Tracking the Productivity of Your Business with a Cloud ERP Solution
If you’re a business owner or manager, you know that being productive—working efficiently and effectively towards a specific goal—is a key factor in business success. But how do you know whether your teams and your organization are truly being productive? In other words, how do you measure productivity?
Simply put, measuring productivity requires comparing the number of goods (or services) your business produces to the amounts of time and resources used to produce them. But there are many complexities in a comparison of this magnitude—complexities that require a robust business management tool for storing, analyzing, and reporting on the productivity data you gather.
A modern cloud ERP solution provides a central repository for company-wide data that will not only connect your business end-to-end but also help you track productivity by providing insights into:
- How your business resources are being used.
- What pain points exist in your business processes and workflows.
- How well your team members are communicating and collaborating.
The cloud enables modern ERP solutions to deliver all this while providing the reporting capabilities you need to assess your productivity—or lack thereof—and to convey that information to all stakeholders.
Let’s dig deeper into how using a cloud ERP solution can help your business track and measure productivity.
Monitor and Manage Resources
A major part of measuring productivity is understanding how you’re using your resources. Resources range from tangible items, like product components and available capital, to intangible assets, like the talents and skills of the people who make up your staff.
The power of the cloud enables you to see exactly which resources, and how much of them, are being used and when. This visibility translates into optimally allocating resources to maximize their potential while reducing waste.
Streamline Business Processes
As any small business owner or manager can attest, a growing business is a reason to celebrate. But such growth brings complications. For example, gaining new customers means ensuring that you have enough resources on hand to meet increased demand and that your business processes and workflows can accommodate your heightened and evolving requirements.
Using the real-time data from your cloud ERP solution, you can examine your current workflows for inefficiencies or bottlenecks. From there, you can determine strategic solutions, such as automating manual processes and standardizing disorderly procedures, to create a more streamlined, efficient, and productive business.
Boost Employee Productivity with Greater Communication and Collaboration
Employee productivity is a critical measurement. According to Zippia research, the average employee is only productive for two hours and 53 minutes a day (or 31% of an eight-hour workday). The causes of unproductive behavior include stress, business inefficiencies such as a lack of coordination and collaboration, and general distractions. Unfortunately, Zippia reports that the average employee is distracted every three minutes and that refocusing on their task takes an average of 23 minutes and 15 seconds.
The factors that lead to drops in productivity are detrimental to your business and damaging to your employees. But this cycle can be broken. A cloud ERP solution improves communication and collaboration processes among team members, which will go a long way toward addressing productivity issues. An ERP solution stores and synchronizes data from across the organization, and every team member—based on the permissions you assign them—has access to the same information. Working with updated, accurate data and communicating via the ERP solution means that they can easily collaborate on company-wide or cross-departmental projects, understand their own and each other’s roles in those projects, and coordinate their actions as needed.
Report on Productivity
Finally, a cloud ERP solution provides multi-dimensional and customized reporting functions, so you can make data-driven decisions based on your business’s specific needs. Reporting on productivity—from teams to individual contributors—maintains performance visibility, which helps you identify and fix current issues. Better still, it helps you predict and avoid problems before they happen.
How Acumatica Can Help
As we’ve discussed, a cloud ERP solution can enhance your business’s overall productivity by helping you effectively manage resources, streamline processes, accelerate communication among team members, and report on your productivity measures. So, what are the end results? You’ll see increased efficiency, reduced costs, and improved employee engagement, which will ultimately boost your overall productivity and help you provide an exceptional customer experience.
If you’re ready to track productivity and improve performance with a modern cloud ERP system, then Acumatica Cloud ERP can help. Our user-friendly, affordable business management software is built to meet your company’s requirements now and in the future. It has everything you need to measure overall productivity, make a data-driven plan to improve performance, and support productivity initiatives today and tomorrow.
To learn more, contact our experts at any time. They look forward to answering your questions and scheduling a demonstration.