We have mentioned in the past that investing in an ERP (Enterprise Resource Planning) or CRM (Customer Relationship Management) system can save your company money and improve efficiency. However, it can be a daunting process trying to figure out if your investment is paying off; you want to know that your new ERP or CRM system is actually giving you a return on your investment (ROI).
That’s why we’re to help you figure it out!
ROI of ERP and CRM
Because ERP and CRM systems are business management tools, they can be hard to quantify in terms of ROI; much of their benefits are not directly visible in sales. When trying to determine the ROI of your business management systems, you need to step outside your regular business model and take a close look at the areas that are supposed to improve.
ERP and CRM solutions are implemented to improve how your business operates. So to figure out if you are getting your moneys worth, you need to analyze the effectiveness of the systems in the areas they were intended to improve. Workforce productivity, customer satisfaction, client retention rates, sales team conversions; these are all areas of your business that should be improved with a CRM or ERP system in place, so taking a close look at their status will give you a clear view of how your systems are performing.
When you have decided which areas to look at you will need to benchmark the current performance levels. From there it is just a matter of time; your team will need to get familiarized with the systems before any legitimate ROI can be attributed to them. Once enough time has passed, you can check back to see if there have been any major improvements.
So there you have it; a simple yet effective way to determine if your ERP and/or CRM solutions are bringing you the ROI you expected. Contact an ECI representative today to find out how we can bring you the ROI you want!
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