What are the tangible and intangible benefits of ERP system
Tangible benefits are those measured in monetary terms and intangible benefits cannot be measured in monetary terms but (http://www.eresourceerp.com/tangible-and-intangible-benefits-of-ERP-system.html) they do have a very significant business impact.
Tangible benefits:
Improves the productivity of process and personnel
Lowering the cost of products and services purchased
Paper and postage cost reductions
Inventory reduction
Lead time reduction
Reduced stock obsolescence
Faster product / service look-up and ordering saving time and money
Automated ordering and payment, lowering payment processing and paper costs
Intangible benefits:
Increases organizational transparency and responsibility
Accurate and faster access to data for timely decisions
Can reach more vendors, producing more competitive bids ;
Improved customer response
Saves enormous time and effort in data entry ;
More controls thereby lowering the risk of mis-utilization of resources
Facilitates strategic planning
Uniform reporting according to global standards
For more information kindly visit: http://www.eresourceerp.com/tangible-and-intangible-benefits-of-ERP-system.html
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e-mail (Help Desk): helpdesk@eresourcerp.com, Web site: www.eresourceerp.com
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ReplyDeleteIt looks like you spend a large amount of time and effort in writing the blog. I am appreciating your effort.
Tangible benefits improves Improves the productivity of process and personnel where as in intangible benefits Increases organizational transparency and responsibility.
Thanks for sharing such a nice blog on benifits of ERP..