Enterprise resource planning (ERP) solutions have many benefits to an organisation, especially when using an ERP in business analysis. The software can help streamline processes, thus improving productivity and lowering operational costs.
One of the players in the ERP marketplace is Microsoft with their Microsoft ERP offering: Dynamics 365 Business Central ERP offering. Business Central ERP is a management solution that streamlines processes by automating them.
Microsoft refers to cloud-based software as highly adaptable and full of features that will help in every aspect of your business. These include finance, shipping, manufacturing, sales, and so much more.
We will be exploring the benefits of recommending and using Business Central ERP in business analysis. But first, let’s understand the role of a business analyst.
Role of Business Analysts
Business analysts have the critical role of helping organisations improve processes and systems. It is a job that entails a lot of research and analysis.
From this, they get insights into the best solutions to your specific business challenges. These analysts then work closely with different departments to implement the solutions such as the IT and finance teams. They will come up with strategies to drive down costs and improve reporting.
The role of a business analyst in an organisation is important for its success. That is why many business analyst jobs https://onlydatajobs.com/ are open today. Contrary to what people may think, the services of a business analyst are not only limited to big corporations. Today, SMEs look to employ their services to upscale their business.
The daily tasks of a business analyst involve a lot of data, from gathering to analysis. That is why innovative tools that help them accomplish their jobs more efficiently and accurately are required and appreciated.
As mentioned above, one of these tools is the Microsoft ERP known as Business Central (formerly Dynamics NAV). Below, let us talk about how using this solution can benefit analysts.
Business Central ERP helps overcome the challenges of outdated systems
Some companies may still hold on to outdated business practices. These include manual processes, complex or disparate systems, and a lack of operational control. All these contribute to lower productivity and loss of morale amongst employees.
Manual processes, for example, are time-consuming and can lead to a lot of frustration. Lack of software integration can impact on efficiency and reliability of processes.
Business analysis can be hard without the right tools. Investing in software like Business Central ERP can take care of these challenges. Your business analyst can recommend its use across different departments or functions.
The Microsoft ERP software allows for the integration of the different functionalities; and because it all happens from one central location there is better collaboration within the organisation.
Access to information is easy on this cloud-based platform. Further, the internal system administrators have better control and visibility of all processes. Since all data is accessible in one central location, this allows for easy monitoring and tracking.
Lower cost of business ownership
Business owners have many expenses that are related to, and inherent in, running a business. Take the example of having to invest in infrastructure – this comes with the associated costs of expensive upgrades and ongoing maintenance.
Depending on the nature of your business, operational costs can take a huge chunk out of your bottom line and the business may find itself struggling to survive.
Business analysts need to find ways to keep such costs competitive whilst employing an efficient platform. Implementing an ERP in business analysis, such as Business Central may be the answer.
The advantages of an ERP in business analysis are many, including:-
- Zero investment in infrastructure when using Azure cloud hosting (only for data storage)
- No upgrade costs as the solution is updated twice yearly with large functionality improvements, and smaller monthly patches or hotfixes where needed.
- Fixed monthly support costs that are predictable, related to the number of licences purchased.
- The company may then be able to operate on a leaner internal IT resource. This would not be the case with on-premise ERP solutions.
When the organisation saves money, there are more chances for the business to scale as business growth always comes with other costs. The company may also need to hire more people to manage tasks.
Business Central ERP scales with your business. TVision can offer extensions that take care of your company’s growth and specific needs.
Better data security
Data is central to the livelihood of any business analyst. They collect and generate a lot of it from all the research they undertake. The loss of such data can be catastrophic for the organisation.
That means the proper management and storage of such data is a big concern, yet, many companies struggle with data management. The fact that the amount of data they generate keeps rising means the situation becomes more challenging.
A recent Rubrik report shows that only 9.2% of companies have a centralised data management system in place. With 44.5% of respondents seeing major challenges within the next two years, if they do not prepare well for data management soon the business may struggle.
There is some positive feedback, though. Companies with cloud solutions have seen a 24% increase in productivity.
Microsoft Business Central ERP provides a fantastic solution to data management challenges.
1. The cloud-based platform offers data security
A major player like Microsoft does not take cloud security lightly. They invest in the best measures to protect their users all over the world with local data centres.
2. Centralisation of data increases efficiency and saves time
Think about compiling reports by collating tons of spreadsheets from different departments. Several things could happen, including data loss or inaccuracies due to human error. Having a single data platform that everyone can use in real time makes data analysis much easier.
3. Tighter controls with user privileges
Only those with specific permissions get to see or use the data. Access can also be logged. This helps keep the information more secure.
4. 24-hour accessibility to data
In these days of hybrid working, this is a significant advantage as your teams do not need to be in the same physical location to access documents.
5. Data management and control challenges will become a thing of the past
Business analysts will find it easy to show the ROI the company can expect with such solutions.
Final thoughts
A company hires a business analyst with one thing in mind – and that is to see how the business can improve productivity while reducing costs. The Microsoft ERP provides an intuitive and easily implemented =, workable solution.
Task automation results in higher efficiency and streamlining of workflows, so employees can achieve higher productivity by letting go of outdated processes.
Implementing an ERP in your business analysis has many benefits to help your business grow. Business Central offers the highest level of data security, is cloud-based, and provides endless flexibility.
This is a guest blog from Only Data Jobs. The blog has been written by Dan Martin from the LinkDoctor. Dan Martin is the Co-Founder of the LinkDoctor. He has been building teams and coaching others to foster innovation and solve real-time problems. Dan also enjoys photography and traveling.
