Control your Data Growth
From PIMs and ERPs to CRMs or CMSs. The explosion of data needed to run a business, and the range of software that stores that data has some companies suffering from information overload. Often labeled “the data storm”, the volume of data needed to manage your business is on a one-way trajectory skyward, with estimates suggesting 40% increases in the amount of data collected annually, well into the next decade.
The powerful data management tools mentioned above offer benefits of greater efficiency and sales. But there is a mounting problem as data volumes increase. These different data systems are often disconnected from one another. They exist as information silos, with overlapping data, different data structures and often with no communication links between them.
This causes a range of issues and missed opportunities. As data volume grows and the need to work smarter increases, connecting these silos will be essential. To explain why, we have compiled some key reasons you should make connecting your data systems a priority in 2019.
Reliable, accurate data
How many products are in your range? Do any of those products have errors in their product data? Is all of their information the same across all of your systems?
You need your data to be the same across all of your systems. Even small changes can start to mount up over time. And let’s face it, human error does happen. Differing data in different systems can, at the very least, cause confusion and may lead to a loss of efficiency and sales down the road.
Sometimes it’s hard to know where or when the mistake happened, and time-consuming to check and fix each product in your catalog. By connecting your data systems and declaring one of them to be the “authority” you create a single source or truth that can be updated in real time. This way you can be sure that any changes you need to make will be mirrored by all of your systems.
Move faster and smarter
How long does it take to update one product in your system? How many systems does that data then have to be changed in? How often do you have to make these changes?
For many businesses, the answer has been to put in place a long process that involves staff members dedicated to frequently updating each information silo individually. But when your data systems are connected, it is a matter of making the update only once.
After integrating some of their data systems, Amtech Medical reported it freed up the time of 3 full-time staff members, an equivalent of approx $140k p.a. These staff members were then able to focus on revenue and growth driving activities rather than repetitive data entry tasks.
Strengthen customer relationships
Just imagine you’re a customer being told different things by different salespeople. Those salespeople might think they are 100% correct based on the information they have, but this is not always the case. In fact, it is not uncommon for error rates in product data to be as high as 20%.
No one likes getting sent conflicting information. At the least, it can be confusing and at times it can be aggravating. You want all of your staff to always be able to access the most up to date information and for them to be confident that that information is accurate.
Connecting your data systems mean that all of your systems are consistent. They are each taking their information from the most up to date system and your staff rest assured that they are working from the single source of truth.
Are you ready to start integrating your business systems?
A first, simple step you can take towards automating the communication between your data systems is to have your Vesta account linked to your key data source, such as your ERP system. This fast and simple set up will enable data to transfer directly to your Vesta interface, including any new product additions, deletions or product updates. This will eliminate the need to upload updates to Vesta, saving you time and delivering product updates to your customers faster.
It’s time to get organized. Data organization doesn’t need to be stressful or difficult, to find out more about setting up this connection click here: www.vesta-central.com/connect-your-erp
If you are interested to investigate how you can tackle your specific business problems through system integration, enabling your business to scale, contact our trusted partners Convergence for a FREE Integration Assessment: www.convergence.co.nz
Rapid growth means today marks the low point in both the amount and the type of data your business will manage. Acting now to get your data systems in order will allow your business to scale and maximize the value of your growing data asset in the future.