Data drives businesses today, and the same holds true in industries that process orders and manage vendors. It’s become increasingly important to have all the necessary data available in one place. That can help improve the efficiency of a business, especially when it comes to handling orders.

That’s where ERP solutions and the data they provide come in. It enables an organization to work seamlessly at completing an order and managing all the different vendors that make that possible. The role of ERP data in order processing and vendor management is vast, for small and big businesses alike.

What Is ERP?

Enterprise Resource Planning or ERP for short is business management process software that makes it possible for an organization to manage all the critical areas of running a business. From human resources to services and technology, ERP software is an all-encompassing solution that helps a business organize all of its day-to-day processes.

ERP Data in Order Processing

When it comes to processing orders, there are a few expectations each sales order should meet. The agreement between the business that’s selling something and the party it’s selling to should define costs, item amounts, and include conveyance dates. With an ERP solution, your efficiency at fulfilling each of these expectations will improve.

First, the customer will place a purchase order which will register in your ERP system. It will include all the data variables such as customer and product number, order size, etc. Upon receiving the order, all departments in the organization will be able to work on it cohesively in real-time.

As for the order processing itself, ERP makes the process automated, allowing an organization to quickly allocate the necessary resources and advance the order into the production stage. There are plenty of perks for order processing within an ERP system – tracking the order progress in real-time, prioritization of requests, various customer data processing and more.

ERP Data in Vendor Management

Vendor management differs from order processing. However, ERP is equally capable of providing the necessary management functions as it is to process orders. One of the critical things in managing vendors is having their correct contact information. Effectiveness in this area can help drive administrative costs down. Keeping all the data in a centralized hub also benefits an organization’s day-to-day vendor management.

With ERP-integrated software solutions such as Runner EDQ CLEAN_Vendor, you can make sure all the necessary vendor data you have is accurate. That increases efficiency in your administration processes. Some of the features offered are de-duplication of data, GeoCoding the location of prospective vendors, as well as complete and clean contact data such as email, address, and phone numbers. It will help you go through the Vendor Lifecycle relying on correct data and ensure you have all the information you need to run your business cleanly and without added administrative costs.

Remember that a business should always strive to make its processes more efficient and streamlined. Make use of the latest technologies to help your business thrive. Visit RunnerEDQ website for more information about our software solutions that improve the accuracy of your ERP data.