What is Robotic Process Automation (RPA)?

robotic process automation
Reading Time: 7 minutes

Summary: Robotic Process Automation (RPA) is the latest technology taking its place in almost all sectors. There is a misconception spreading that RPA will replace human jobs. But it’s not true, humans must work along with robots. RPA has to do all the repetitive tasks, which are time-consuming for humans. Humans can focus on higher-value tasks.

Robotic process transformation, or RPA, is a high-tech process of creating software robots or bots and designing them to perform mundane, repetitive tasks. These bots can imitate human actions. This technology emulates monotonous back office processes like form filling, moving files or extracting data and many more.

Moreover, robotic process automation is a software technology that helps to build, manage and deploy software robots. Like humans, these robots are also built to comprehend what is on screen and perform functions like using the right keystrokes, navigation systems, finding and extracting data and executing other processes.

RPA is also known as software robotics. Note that the robots in the RPA are actually software robots present virtually or physically in a system.

Robotic process automation executes the actions that humans once performed. After automating those repetitive actions, humans can focus more on highly valuable tasks.

Examples of Robotic Process Automation RPA

Some examples of robotics process automation are:

  • Customer complaints
  • Credit card applications
  • Data transfers
  • Processing payrolls
  • Onboarding
  • Compliance reporting
  • Invoicing

RPA and Artificial Intelligence

Note that RPA and artificial intelligence is not the same. AI is data-driven, and RPA is process driven, which is the significant difference between the two concepts. RPA has the function of replicating human-directed tasks. AI bots use machine learning to recognize patterns in data, especially unstructured data and learn over time. In RPA tools, human intervention is reduced.

AI can help RPA to automate tasks and help manage complex tasks.

RPA and Hyperautomation

RPA and hyper-automation are two different concepts. Hyperautomation is the process of automating all business operations that can be automated. Large enterprises deploy hyper-automation to streamline business processes and use technologies like AI and RPA to automate processes that don’t need human intervention.

Challenges of Adopting RPA

Companies use RPA to automate repetitive business processes. With the many benefits, it has even challenges to deal with. Learn more about some of the challenges of RPA.

Lean capabilities -The name of these bots indicates process automation, so it typically automates business processes. But it breaks when implementing these RPA bots to more than five applications or more than 500 clicks.

RPA bots are sometimes hard to govern, measure or manage though it is still used in many organisations.

Resiliency: When new applications or business conditions change, RPA bots fail to adopt.

Security: RPA bots sometimes have to work with confidential information. If the security is compromised, they pose a threat to the entire firm.

Efficiency: These chatbots are designed to perform human actions. But sometimes, the APIs perform better than these bots in cases such as automation workflows.

Benefits of Robotics Process Automation(RPA)

Implementing RPA Software for your business has numerous benefits.

  • First, it streamlines workflow, making the company more resilient, flexible, responsive and profitable.
  • If you remove mundane activities the employee performs and give more productive tasks, there will be employee satisfaction, engagement and more productivity.
  • It is the solution for automating workflows that involve legacy systems like virtual desktop infrastructure(VDI) or database access.
  • RPA robots can operate round the clock, which is a boon as it increases productivity.
  • These software robots can interact with any system or application.
  • Robotic process automation software reduces all manual errors.
  • Cuts unwanted costs and boosts productivity.
  • This form of automation makes use of the rule-based process to perform functions.

How does robotic process automation RPA work?

RPA’s are made to have the expertise to act and perform functions like a human. In comparison, this software doesn’t make any errors and functions without any stops. Plus, it helps employees to be more productive in the other valuable tasks assigned to them. No employee feels dynamic performing mundane tasks every day.

Businesses can rely on RPA, but tools like API(application program interfaces) or low code development is efficient enough but need to possess the expertise of RPAs.

Robotic process automation RPA works efficiently for any imitative tasks. The primary and simplest RPA bots can be made using clicks and keystrokes as users interact with the app. So whenever an issue arises, these bots will jump in to fine-tune the process.

Recordings serve as a template to create more powerful bots. First, RPA (robotics process automation) records the workflow and then generates continuous workflow in the back end. Some robust RPA bots quickly adapt to changes in screen size layout and workflows. Other RPA tools like process mining and task mining capture business process workflows and later serve as a template.

RPA bots can also integrate with artificial intelligence AI modules like OCR (Optical character recognition), machine vision, natural language understanding or decision engines. And these can result in intelligent process automation. Sometimes, all these capabilities are packaged into cognitive automation modules to support the best functions of business processes.

RPA Deployment Methodology

Learn how RPA is used in an enterprise through this methodology.


  • First, identify and list the processes you want to automate. If you can answer the questions below, you can easily list where RPA can be applied to your business.
  • Find out the manual and repetitive tasks.
  • Identify if your input data is in electronic format and if it is readable.
  • Check all the rule-based processes.
  • Verify whether any changes are required in the existing system.

Proceed to the next few steps in planning.

  • Form a project team to approve and finalize implementation timelines and approaches.
  • Create a solution design to proceed with the RPA implementation processes.
  • Search for a logging mechanism to identify issues in robotics process automation.

So, this well-structured and organised design plan will assist you in implementing RPS for your business processes.


With a well-tailored plan, developing automation workflows is easier and faster.


Test and correct all the defects in this phase.

Support and maintenance

After going live, provide continuous support to identify defects and rectify them. General maintenance guidelines have to be followed with responsibilities with business and support teams.

Where is Robotic process automation RPA applied?

In this age of digitalisation outbreak, new technologies are implemented to get the work done quickly. RPA bots are used in industries where repetitive business processes must be done nonstop. Insurance, finance, banking and telecommunications are some industries in which RPA is used. In finance, robotic process automation is used to automate governance, process invoices and reconcile accounts.

In industries, especially in the supply chain process, robotic process automation is used to automate processes like data entry, predictive maintenance and after-sales support.

Telecommunications companies employ RPA to configure new services and the linked billing system for new accounts. Furthermore, all the top companies use RPA vastly to get maximum business efficiency and complete tasks faster.

For customer service, RPA bots give better service by automating contact centre desks, verifying e-signatures, uploading scanned documents and verifying data for approval or rejection.

In a company, RPA is used in accounting for budgeting, general accounting, operational accounting, and transactional reporting.

Human resources use RPA for the employee on-board and off-board process, update employee information and updating timesheet processes.

In a company’s supply chain management, RPA is implemented to automate processes such as monitoring inventory levels, order processing and payments, procurement and tracking shipments.

Best practices to follow during an RPA implementation:

Before implementing robotics process automation, plan and list its effects.

  • Consider the effect RPA bots can have on your business before their implementation.
  • Identify larger processes that need automation and which can have a larger impact on your business.
  • It is significant to define your desired ROI.
  • Sometimes, poor planning and change management can invite trouble.
  • Complying with all government compliance and corporate policies must be ensured.

General usage of robotic process automation RPA

  • Repetitive daily tasks can be automated and done by RPA bots.
  • RPA bots can perform larger repetitive tasks such as data entry, copy and paste.
  • RPA can perform multiple tasks at a time. It can assist to process transactions, manipulate data and send reports.
  • Robotics process automation completely automates data extraction to create accurate, effective, and timely reports.
  • Verifies and checks the validity of data on different systems.
  • It is easy to migrate data automatically, which is impossible with traditional mediums like documents or spreadsheets.
  • RPA bots assist in bridging the gap between IT systems and related product management platforms by upgrading both systems.
  • It helps in revenue forecasting after updating the financial reports.

Criteria for choosing RPA tools

  • Consider the following criteria before setting up RPA bots.
  • Choose RPA bot that can be easily set up with your system.
  • Consider cloud bots.
  • Process mining and task discovery.
  • Your RPA should possess machine-learning capabilities.
  • Integrates with business processes at ease.
  • A scalable and manageable RPA bot.
  • Cloud bot is a better choice.

Future of RPA

RPA, when combined with AI and machine learning tools, delivers impressive benefits. It is collectively known as intelligent automation, intelligent process automation and cognitive RPA. It enables organisations to integrate business processes and efficiently manage business operations.

RPA simplifies business processes in an enterprise. Though it has a few challenges, it is a great boon to control and manage functions that can be automated that don’t require any human intervention. Robotic process automation has helped many businesses to gain higher productivity. Automating repetitive tasks was very helpful in attaining employee satisfaction.

Employees can be given valuable tasks instead of mundane activities. And automation helps in providing better customer support. Giving immediate responses to the customer and extracting customer information has enabled companies to provide a good customer experience.

Sage X3

Sage X3 is a fully automated enterprise resource planning software to manage everyday business activities. This ERP system is the best business management solution for your business. Sage X3 is the perfect solution for any business or manufacturing industry. Integrate your business process to Sage X3 and efficiently manage your business. It covers efficiently managing operations like finance and accounting, supply chain management, product management, inventory control, distribution and more significant functions. Sage X3 has a centralized system where authorised users can access the data. It provides you with the best data security.

Sage X3 is a comprehensive ERP suite comprising all the features required to balance and manage your business effectively. You can also customise the features based on your company. This software is carefully designed to manage all types of business. Even after the implementation of this software, our expert support team will guide you and your team in interacting adeptly with the software. Make the right decision for your business to achieve your goals. Choose Sage X3 ERP system for your business.

To learn more about our product, explore our website: www.sagesoftware.co.in

Connect with us today.

Sage X3 RPA

Sage Software Solutions is a leading IT company with an array of advanced ERP Software solutions. Our proprietary products — Sage X3 and Sage 300 will help you cut your operational expenses, improve business productivity, increase operational efficiency, forge robust customer relationships, and strengthen association with vendors, suppliers, and distributors. So, if you are looking to reinforce your business fundamentals and emerge as an industry leader, then please schedule a call with one of our sales representatives.

How flexible is the ERP system for a business process?

erp system
Reading Time: 6 minutes

Summary: ERP systems are boon to both SMEs and large-scale industries. Its advanced features give optimum growth results to a company. A study says that ERP implementation led to business process improvement for 95% of businesses. Industries that implemented ERP systems found tremendous growth and seamless flow of business processes.

erp system

An Enterprise resource planning (ERP) system is an advanced automated software to manage a company’s core business processes. It integrates and balances the flow of data and streamlines business operations across the enterprise. ERP ties the business processes like financials, supply chain, operations, commerce, reporting, manufacturing and human resources in a single database.

In short, ERP monitors and controls day-to-day business activities. Understand that ERP software coordinates processes and stores information silos for anyone to access data without any hassle. Earlier manual labour was time-consuming and pricy. Just imagine waiting for consent to access data and delays in data transfer from one department to another. So now the updated version of the ERP system is faster and the executives can save time to engage themselves in value-added tasks.

Earlier ERP system was complex, installed in different business departments separately and was not linked to a common database. The business system at that time lacked a balanced flow of operations thereby delaying the process.

The unique aspect of the current ERP system is its ability to coordinate data to a single system. Based on the data attained from the ERP system, you can get better insights to predict your company’s future. Modern ERP systems are more flexible providing secure options to encrypt confidential data.

History of ERP SYSTEM

In 1990, ERP systems were introduced chiefly for manufacturing industries. There are a few concepts which emerged from ERP systems at that time such as Materials requirement planning in 1964, MRP II developed in 1983, and Economic order quantity(EOQ) developed by Ford W Harris in 1913.

Later Gartner Group coined the term ERP system to distinguish it from MRP in the 1990s. According to QAD.Inc, ERP system started introducing business intelligence at this time. Additionally, it was handling other business processes like Sales Force Automation(SFA), marketing automation and e-commerce. Initially, there were shortcomings in using an on-premise ERP system. The limitations included the heavy cost of implementation, long duration to implement, licensing and many more. So the vendors began developing cloud-based ERP systems using the Saas service. Saas ERP systems are comparatively cheaper and the user has to pay monthly subscriptions. The striking feature of this feature is that it can be customized based on industry-specific requirements suiting businesses of all sizes.

Types of ERP systems

There are three types of ERP Modules – On-premise ERP, Cloud ERP and Hybrid ERP

On-premise ERP software

  • Implemented on-site, in the physical office of an organization.
  • The company takes on full control, support and ownership after its implementation.

Cloud-based ERP software

  • It’s a web-based solution known as Software as a service (Saas).
  • This ERP is purchased and used subscription-wise.
  • An internet connection is required to access and store data. Data can be stored in repositories.
  • The software provider sends updates and provides flexible solutions/customizations based on users’ needs.

Hybrid ERP software

  • It’s a combination of On-premise ERP software and Cloud ERP software.
  • Organisations with an established on-premise ERP software opt to implement this type.
  • The benefit of implementing both is to reduce costs and quickly move to meet local needs.
  • It is also known as a two-tier ERP system.

Features of Enterprise resource planning software

  • Integrates the entire business operations to streamline information and processes across the entire organisation.
  • ERP features are beneficial for all the departments like HR, sales, logistics, manufacturing etc.
  • It has the ability to manage multiple projects simultaneously.
  • The more features the company adds to ERP, the more expensive it becomes.
  • ERP features are expansive.

<<<Also read: The vital role of ERP in Manufacturing Industry>>>

Benefits of an Enterprise Resource Planning (ERP) System

Enterprise resource planning (ERP) is implemented in the company to expand or reduce costs or to maintain the smooth flow of business operations. But there are more advantages to employing an ERP system in the company.

Boosts accuracy and productivity

  • Modern ERP system link all the major business processes. This promotes data accuracy and productivity.
  • As the processes are interconnected, the users can synchronise and work to get faster outcomes.

Improved business reporting

  • ERP system helps in real-time data recording. It also helps in making better decisions to eliminate risks.
  • Accurate data from multiple business departments aids to plan, budgeting, and forecast business decisions that help the shareholders to make precise decisions.

Increases Efficiency and seamless workflow

  • Data can be accessed quickly to present to the customers, vendors or business partners.
  • Employee and customer satisfaction will improve because of the quick response.
  • Most importantly unwanted expenses can be terminated.
  • It also improves the collaboration of the different departments.

Importance of ERP Software

Enterprise resource planning ERP system has vast significance across the industry.

  • A single system(interface) that coordinates all the business operations.
  • Users can interact with a single interface and share information.
  • Enable cross-functional collaboration which increases efficiency and productivity.
  • Helps in reducing operational costs.
  • ERP systems are modular design, flexible, open and centralized database.

ERP for Enterprise application

ERP is entirely for enterprise applications for both large and small businesses. For large-scale businesses, a dedicated team is needed to manage the deployment, customization and updates and to analyze data. Small businesses use lighter ERP business applications customized to the needs of their business type.

Most of the industry uses ERP systems because its more reliable, efficient and productive. At the same time, there is no alternative to this. A firm implements an ERP system to replace their out-of-date ERP software, homegrown ERP system, Accounting software, or had no ERP system and many other reasons.

Application of an ERP System for an organisation

ERP system has multiple benefits for an organisation. It’s crucial to know the specific areas where it is utilised or how it’s useful. In detail go through the following details.


The general ledger will be maintained digitally. Accounts payable and accounts receivable will be registered. So the executives will have an accurate record of all the company’s finances.

Record all the purchases

All the purchases done in the company can be automated and recorded. Request for quotes can be sent to the vendors from the ERP system.

Customer Relationship Management

CRM features are a significant component of an ERP system. Firstly, in the distributor’s site, the prospects can fill out the application. In the second step, the executive can collect customers’ information for future analysis.

Project Management

It’s a highly valuable feature of an ERP system. Any users will have the access to view the project status, billing information, expenses and client communications.


ERP tool modules aid in adding and updating products to the company’s e-commerce site. Other e-commerce tools like order information, stock management and others are also available.


What Industries can benefit from ERP?

ERP software can be used in any industry and for businesses of any size. It only helps industries to become efficient and productive. ERP software aids in managing and transferring information across an industry. They help to manage everyday business activities and help to combat the challenges and complexities that come with when running a company. ERP system help in managing projects, tracking compliance to guidelines and handling many other functions. Note that it is easy to acquire customized ERP features based on the type of your business.

Understand that ERP’s origin roots back to the industry, so it’s best suitable for the manufacturing industry. Some of the examples of Industry which the ERP is catering to are: Manufacturing, Automotive, Electronics and Technology, Food and beverage, health care and hospitality, garment industry and many more.

ERP software presently has started to support applications that support everyday business functions. Business functions such as Financial accounting, Management accounting, Human resources, manufacturing, order processing, supply chain management, project management, customer relationship management and data services are the functions that ERP modules support.

<<<Also read: Why ERP is important in 2022?>>>

Examples of ERP Software

There are a lot of ERP systems available in the market. It becomes confusing to choose the right one tailored for your company. Sage ERP is one of the leading software used for large, medium and small scaled industries. Sage X3 and Sage 300 are undoubtedly the best software in the market today.

Sage X3

Sage X3 is a fully integrated and comprehensive suite of features to manage all business functions. It is more flexible and agile in controlling and managing day-to-day business activities. Sage X3 can be tailored to suit your business requirements. It is a silo of carefully curated features to match different businesses. Financials and Accounting, inventory and warehouse management, purchasing, reporting and analytics, and CRM are some of the major features offered by Sage X3 to support your business. Add-on features are also more so that the clients can choose based on the requirements. Sage ERP providers will continue to support it even after its implementation. Sufficient training is also given to the employees interacting with the software.

ERP software implementation is a boon to the industry. It promotes better inter-departmental communications, reduces costs, faster task completion, better planning and data security. It can also be customized based on the requirements placed by the company. You should immediately implement ERP if your business isn’t growing or if you are not getting enough customers. Initially, the cost of implementing ERP will be expensive, but in the long run, it will help businesses to save a lot of money. Choose the right ERP and increase your profit margin, productivity and growth.


Sage Software Solutions is a leading IT company with an array of advanced ERP Software solutions. Our proprietary products — Sage X3 and Sage 300 will help you cut your operational expenses, improve business productivity, increase operational efficiency, forge robust customer relationships, and strengthen association with vendors, suppliers, and distributors. So, if you are looking to reinforce your business fundamentals and emerge as an industry leader, then please schedule a call with one of our sales representatives.

What is Business Intelligence Software ?

Business intelligence software
Reading Time: 6 minutes

Summary: Data sources are increasing daily, and the amount of data that companies need to process is also increasing immensely. So controlling the channels of data and the ability to extract crucial knowledge from it is more important than ever. Business Intelligence software allows companies to extract critical data that help make better business decisions. For example, it reveals hidden market trends and customer preferences that tell what products and services customers are most likely to buy. Moreover, data allows business stakeholders to brainstorm and implement strategies that help save costs and ultimately enable you to become an industry leader.


What is Business Intelligence?

Business intelligence software comprises the following components: Data mining, Data tools & infrastructure, data analytics, and data visualization. Using these components, business intelligence aims to cull out critical information from large volumes of data that help make better business decisions. 

Modern business intelligence (BI) software help:

  • Understand changing market trends.
  • Examine transforming customer preferences. 
  • Eliminate work inefficiencies.
  • Brainstorm better marketing strategies.
  • Keep crucial data safe on platforms.
  • Get critical insights quickly and without any errors.
  • Users feel empowered when they use trusted BI software platforms.

How does business intelligence software work?

Businesses across industries collect data from multiple sources. This data can be beneficial if companies have the tools and know the techniques to extract valuable insights from that data. Such insights help achieve long-term goals and short-term objectives. Now let’s understand the technical side of the issue.

Data is firstly collected from business management solutions and then processed to eliminate unwanted crap. Finally, the leftover data is stored in cloud-enabled data warehouses allowing instant access to business stakeholders from anywhere, anytime, and on any connected device. Using this processed data, decision-makers can answer business questions quickly and efficiently. Another advantage of business intelligence tools is that they project hardcore data into easy-to-understand charts, graphs, statistics, and other visual mediums. Therefore, key stakeholders can view and understand data easily.

<<<Also Read: How can Business Intelligence significantly improve your ERP software?>>>

Business Intelligence (BI) methods

As described above, Business intelligence (BI) has multiple components that collect and process data allowing key stakeholders to fetch valuable insights. These insights optimize business performance by increasing productivity & efficiency, cutting operational costs, and developing robust customer relationships. In the last few years, business intelligence has evolved to include numerous activities and processes to enhance business performance, such as:

1. Data mining

Companies can uncover valuable insights from large data sets using advanced statistics, machine learning, artificial intelligence, and databases. 

2. Reporting 

The reporting feature enables key stakeholders to glean business insights in an easy-to-understand format.

3. Descriptive analytics

Descriptive analytics allows key stakeholders to identify changing market trends and customer preferences based on current and historical data. 

4. Statistical analysis

This method helps to uncover the underlying trends and patterns from data collected from multiple sources. This method is used in situations like statistical modeling, research interpretations, and designing surveys and studies. 

5. Querying

A business intelligence platform uses structured query language to request data from database tables.

6. Benchmarking

Customized dashboards allow a business intelligence platform to compare historical data to track performance against pre-determined goals. This way, key stakeholders can benchmark their performance and determine their performance. 

7. Data preparation

Collecting data from multiple sources, identifying measurements and dimensions, and readying data for data analysis come under data preparation.

8. Data visualization

Once the data is prepared, it’s time to represent it in an easy-to-understand format using various data visualization tools like graphs, charts, and histograms. 

9. Visual analysis

Visual insights allow key stakeholders to understand the data’s context and underlying intention. It enables decision-makers to comprehend the purpose for which data is being collected, filtered, and analyzed. 

How do business intelligence (BI), business analytics, and data analytics go hand in hand?

Business intelligence is an umbrella term that contains business analytics & data analytics and uses them to achieve a particular goal. Data scientists use predictive analytics and advanced statistics to identify and forecast future patterns. The primary question that data analytics asks is “Why did a particular activity happen and what is the probability of it happening again?”.

Then, business intelligence (BI) uses those algorithms and models to turn results into actionable language.BI software is customized to answer particular queries and critically analyze for planning or decisions. In addition, businesses can implement analytics processes to improve iteration and follow-up questions. Modern-day businesses use analytics to discover, access, explore, and share data, which is called the cycle of analytics. 

What is the difference between traditional BI and modern BI?

Historically, a traditional business intelligence model was used to develop business intelligence tools. IT organizations used a top-down approach to drive business intelligence and static reports were used to answer analytic questions. 

The most significant disadvantage of this process was that if somebody had a follow-up question, their request would be sent to the bottom of the reporting queue, and they had to wait for the process to start over again. As a result, it led to slow reporting cycles, and decision-makers couldn’t leverage real-time data while making decisions.

Even today, most companies use traditional business intelligence for answering static queries and regular reporting. However, some organizations are drifting towards modern business intelligence as it’s more approachable and interactive. Although IT departments play a significant role in managing data access, multiple user levels can customize dashboards and create reports at short notice. In addition, full-fledged software allows users to visualize data in various formats and answer their questions. 

did you know

Benefits of using a business intelligence software

A business intelligence software allows companies across industries to gain a series of benefits, as mentioned below:

1. Enhanced organizational efficiency

BI tools allow organizations to access data from multiple sources, get complete control over their business processes, and benchmark their results with short and long-term business goals. For example, business intelligence software allows for faster clinical trials, better-optimized patient diagnosis, and better closing of claims. The best part is that when employees focus less on compiling reports and performing data analysis, they can focus more on developing better business programs and competitive products for their business. 

2. Intuitive dashboards 

BI intelligence software performs data processing on the company’s servers and the cloud. BI software gathers data from multiple sources, stores them in the data warehouse, and critically analyzes the data based on user queries, interactive dashboards, and drag-and-drop reports. The best part is that a business intelligence tool provides interactive dashboards that empower non-technical users to share stories without much coding proficiency. 

3. Enhanced data organization

Business intelligence tools improve data organization and analysis, allowing different departments to access several databases without seeking permission. Business intelligence software tools can combine internal datasets with external data directories, including social data, customer data, and historical data, into a single warehouse accessible to all key stakeholders. 

4. Data-driven business decision

Better decisions require access to valuable insights churned out of volumes of data. For example, business intelligence software allows companies to view sales forecasts and real-time data to meet with potential clients. As a result, sales reps understand the clients’ needs and can therefore confidently speak with them. Moreover, decision-makers don’t have to wait weeks to access detailed reports, and the risk of outdated data is also eliminated. 

5. Improves employee satisfaction

Business intelligence software allows analysts and IT departments to examine business user requests without spending much time. The best part is that those departments that required permission (or technical expertise) from the IT team to process data can now begin data analysis with little training. Business intelligence tools allow non-technical users to seamlessly and intuitively analyze data without technical expertise. 

6. Enhanced customer experience

Business intelligence software significantly improves customer satisfaction and experience. It quickly pulls text data from multiple customer support chat sessions and operational data as well. For example, business intelligence tools helped Verizon reduce support calls and enhance customer service by 43%. 

BI analysis categories

There are three primary categories for BI software:

  • Predictive analytics: This category considers real-time and historical data to model future outcomes for efficient planning.
  • Descriptive analytics: This category uses historical and real-time data to identify relationships and trends in data.
  • Prescriptive analytics: This category uses simulation, graph analysis, neural networks, and recommendation engines to find answers to questions such as “What should we do to achieve a goal?”.

Factors to consider while choosing a business intelligence software?

Choosing the right business intelligence tool is critical for your company. Here are some factors you must consider while choosing one:

  1. Variety of visualization options 
  2. Multiple dashboard templates
  3. Flexible to implement
  4. Data connectivity
  5. Valuable insights
  6. Alerts and notifications for identifying best & worst metrics
  7. Integrates with multiple business applications

The future trajectory of business intelligence

Business needs, customer preferences, and market trends are continuously changing, and so are business intelligence tools. Current developments happening in the fields of machine learning and artificial intelligence will play a significant role while businesses plan their BI strategy. 

Moreover, businesses today are getting more data-driven to make better decisions. As a result, efforts for collaboration and data-sharing are increasing. Business intelligence software also integrates the best data visualization tools allowing employees with little or no coding experience to cull valuable insights from raw data.

infographic - business intelligence

Top 7 ways to measure your Business Efficiency

Business efficiency
Reading Time: 6 minutes

Summary: Ensuring high business efficiency requires an interplay of diverse forces. For example, procuring raw materials at a minimum price, understanding changing market conditions and customer preferences, building excellent customer relationships, and distributing the best quality finished products to customers at the earliest. Measuring business success requires valuable data that enables:

  • Identifying the pros and cons of your existing business strategy.
  • Analyzing business performance through easy-to-read graphs and pie charts.
  • Building better business blueprints based on new market challenges and changing customer demographics.

business efficiency

What are Success metrics?

Success metrics are a collection of Key Performance Indicators (KPIs) that determine whether a business is achieving its targets. While each company has a different set of success metrics based on industry-specific challenges, target audience, compliance requirements, and business priorities, effective metrics are measurable, actionable, and result-oriented. 

Remember that preparing a list of success metrics becomes easy once you identify your industry challenges. And it also becomes simple to communicate them to business stakeholders without providing much context.

7 types of metrics to measure business success

This blog will shed light on the different types of success metrics that will help you measure business efficiency. 

1. Break-even point

A Break-even point refers to the minimum amount a company must earn in a particular period to cover all its expenses and keep itself afloat. 

For example, if your total expenses for March 2022 = USD 500,000

And suppose you earn USD 500,000 in the next quarter (April, May, and June). Then, it means you took three months to reach your break-even point. 

Tracking and measuring whether your company can meet the break-even point is necessary as it enables:

  • You to have enough cash to pay vendors, suppliers, and distributors.
  • You have the financial ability to repay your debts.
  • Angel investors to understand your financial situation and make up their minds to invest in your company.

For conglomerates, meeting break-even points might be the lowest achievable target. But for startups and new ventures, recovering their expenses is one of the most important targets to achieve. 

2. Monthly recurring revenue

Monthly Recurring Revenue (MRR) is a crucial metric for businesses whose primary source of income constitutes service subscriptions. This metric tracks and measures a company’s monthly revenue based on:

  • New products bought & services subscribed in a month
  • New customers added to the customer database
  • Number of customers who abandoned their subscriptions

MRR enables businesses to identify changes in customer behavior and track individual spending over time. 

3. Net income ratio

The net income ratio is the resultant profit you get after subtracting expenses from your revenues. 

For example, 

Revenue = USD 500000
Expenses = USD 200000
Net income ratio = USD 500000 – USD 200000 = USD 300000

This metric allows the senior management to comprehend their current financial situation and check how close they are to achieving their economic targets.

Most companies correlate an increase in net income ratio with better financial performance. But startups and newly established companies might have to wait for a few months (or years) before seeing any positive net income ratio. 

Also, remember that it’s essential to factor in the company’s historical financial performance and trends while analyzing the net income ratio.

4. ROI and ROAS

ROI stands for Return on Investment, a ratio between investment and income. You can calculate ROI by subtracting the cost of goods and services from your revenue and dividing the result by the cost of goods and services. The formula below shows how ROI is calculated:

business efficiency

In marketing parlance, ROI measures the money a company makes after spending a particular sum on running a marketing campaign. When used with conversion rates and lead generation metrics, it helps calculate a customer’s average value. 


ROI is one of the best metrics to measure your business’ worth. If your organization’s ROI is higher, you have made a worthy investment. If not, you might want to brainstorm better strategies to increase your revenue.

Return on ad spend (ROAS) is critical if you significantly depend on advertising expenses to generate sales. It tracks the precise amount of revenue your ads generate over a specific period. 

5. Conversion rate, leads, and bounce rate

Do you have a big marketing budget?

If yes, then you should track the following three metrics:

  • Number of leads generated:

    Calculate the total number of potential prospects reached.

  • Number of leads converted:

    Calculate the total number of potential prospects converted into full-time paying customers.

  • Calculate the conversion rate:

    Lead conversion percentage tells how effective your marketing strategies are in reaching potential clients and converting them into loyal customers.

Bounce rate is the converse of conversion rate. It measures the number of customers who land on your company’s website but leave immediately without scrolling down or making a purchase. The number of bounces against leads generated identifies gaps in advertising, marketing, and user experience.

 6. Customer-focused metrics

An expanding or shrinking customer base is the best way to identify the performance of your marketing campaigns. If your customer base is expanding, your marketing efforts are paying off, and people are showing tremendous interest in your products and services. If not, you need to brainstorm effective marketing campaigns to regain the interest of lost customers. 

Many companies rely on customer-focused metrics to build sustainable practices and forecast what products customers would most likely purchase.

Here’s a list of the essential customer-focused metrics to measure:

  • Conversion rate

This metric measures how many customers have done any of the following:

  1. Filled out a website form
  2. Downloaded an eBook/guidebook/case study
  3. Purchased a product
  4. Subscribed to a service
  5. Subscribed to the email newsletter

For example, if you want to calculate your website’s conversion rate, stick to the following formula:

Business efficiency

  • Customer Health Score

Customer Health Score can be measured by tracking the number of new and old customers and identifying varying customer purchase habits. In addition, this score lays down the foundation for calculating other business-critical parameters, such as and customer retention cost, net promoter score, and customer lifetime value.

  • Customer Satisfaction Score (CSAT)

CSAT measures how satisfied customers are with your products and services and how likely would they spread excellent word-of-mouth to others. Different methods to calculate CSAT include:

a. Customer satisfaction survey

b. Focus groups

c. Post-service

d. In-app surveys

e. Social media monitoring

f. Customer Relationship Management (CRM) surveys

Sage 300cloud

  • Customer Lifetime Value (CLV)

This metric helps determine how much profit a business can generate from a particular customer over a definite period. You can calculate CLV using the following formula:

CLV = Customer’s average value of purchase * Customer’s average frequency of purchase * Customer’s average lifespan

  • Customer churn rate

This metric determines how often customers abandon doing business with your company. It’s also known as customer attrition rate and provides the number of customers who have:

a. Canceled your subscription

b. Stopped purchasing your products

c. Closed accounts

business efficiency

7. Employee satisfaction

Are your employees satisfied working in your organization?

If yes, then your employee satisfaction rate is high. It means that your employees care about their position and are satisfied doing their job. 

Do you know that employee satisfaction corresponds to high customer success?

A customer satisfaction study conducted by combining data from the American Customer Satisfaction Index (ACSI) and Glassdoor employee reviews revealed that each one-star improvement in a company’s Glassdoor rating increased 1.3 points out of 100 customer satisfaction scores. 

So, ensure that your employees get a supportive ecosystem as it:

  • Decreases employee turnover rate
  • Reduces employee training costs
  • Increases customer retention rate

How Sage X3 will help you increase your business efficiency?

Sage X3 is an industry-leading ERP software that helps companies across industries to increase their efficiency, improve productivity, reduce administration costs, build robust customer relationships, forecast changing market conditions and customer preferences, and provide real-time insights. It has various modules for managing critical business functions like finance & accounting, sales & marketing, inventory & warehouse, supply chain & distribution, and customer relationships. 

The infographic below shows how Sage X3 can multiply your business efficiency.

Sage X3


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At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in.

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

5 Ways Digital Transformation is Re-defining Enterprise Landscape

Reading Time: 4 minutes

Digital Transformation and ERP Solutions

In the information age that we live in, businesses cannot escape digital transformation. All credits to the digitally savvy customer who has access to heaps of information about literally everything, at every time, and everywhere. And if you fail to keep up with times, your customer will not stick with you for long.

Today, companies require increased access to data, stay connected with their customers 24/7, and streamline their business processes. Unfortunately, manual methods are too inefficient and fail to catch-up with the speed that businesses require. Digital transformation is the key that will put an end to all those challenges. It will make your business respond to customer queries with lightning speed, destroy information silos resulting in interdepartmental to and fro of data, and empower you to give tough competition to other sharks in the ocean.

Digital Transformation for Changing Enterprise Landscape

Let’s dive and take a look at 5 crucial ways of how digital transformation can help you adapt to the changing enterprise landscape.

1. The economy is going digital

Only if you live on Mars would you not be aware of the advantages of going digital. Today, everyone including people, businesses, societies, and governments, has a digital footprint. According to a report, the size of the digital economy ranges somewhere from 4.5% – 15.5% of the world economy. And this is when the same study suggests that we are in the early phases of digitization. Therefore, it’s imperative to understand why businesses should prepare a digital road map for themselves.

Digitization helps businesses know what people are searching for locally and globally, their likes and dislikes, cultural changes happening around the globe, the impact of government policies and much more. Also, all the upcoming technologies such as AI, Machine Learning, IoT, Blockchain, 5G, and Cloud computing rely on digital data. If you want to remain relevant in the changing times, you cannot afford to remain aloof from digitization.

2. Adopting new technology has always been a way to ‘Future-Proof’ your business

Do you remember the late 90’s and the early 2000’s? Do you recall the exponential increase in productivity promulgated by digital technologies of that time namely; social media, mobile, and the Internet?

There is no doubt that the Industry 4.0 Revolution helped businesses take a giant leap from being heavily reliant on manual methods of conducting business to super-fast and highly efficient digital methods. But times are changing yet again. We are standing on a junction where on its other side is the angel of ‘digital supremacy’ with its arms wide open, waiting to embrace us. Companies need to understand that this angel which comprises technologies such as AI, voice, robotics, IoT, etc. has the potential to completely disrupt the way they do business.

Though we are at a nascent stage of digital transformation, five to ten years down the line, new products and services will emerge out of these technologies and open new revenue streams completely unheard of. As and when the opportunity comes, those companies that have realized the importance of digital transformation today will embrace the change quickly and turn into industry leaders. And those who failed to do so will be wiped off.

3. New and better avenues of customer engagement

In the information age that we live in, people have gained the most. They have got multiple avenues to raise their voice, keep their opinion and share information with like-minded people. It does not take long to bring an entire company to a standstill if even one of them, in the remotest corner of the world, objects to the quality of your products.

Here is how Digital transformation is forcing businesses to look at customer engagement strategies with a fresh look:

• Digital marketing communication has redefined customer engagement. Be it social media posts, online ads, guest posts, blogs, articles, SEM, SEO or a proactive customer care service; the importance of customer engagement has risen to the sky. With time, it is becoming more personalized in nature.

• It widens the customer base by forming better retention strategies to keep existing clients loyal to the company and attract new ones.

• It helps form a lead management system that efficiently manages customer queries, contract renewals, and lead handling.

Also Read: Top 5 ERP Software Trends of 2020

4. Makes you compliance-friendly and investor-friendly

With governments across the globe making tighter tax regulations and formulating mandatory compliance, companies face major challenges if they don’t adhere to such directives. Industries such as banking, and import and export, are audited by government authorities and in cases when they are found in-compliant, they are hunted down. The easiest way to meet these standards is by using digital technologies that keep track of data, warn concerned authorities if regulations are not being met, keep proof of compliance and much more.

Another important thing that businesses must keep in mind is that a sound IT strategy lures prospective investors. By carrying out a full-fledged digital transformation process at your company you indicate that you are ready to take on the challenges head-on, will have few/no problems in managing financial governance and be compliance-friendly.

5. Bring a complete cultural change in the way you function

Have you successfully earmarked the redundant activities being carried out in different departments of the company? Do you exactly know which processes function at their optimum level and which don’t? If the answer to those questions is a thundering yes, then your business needs a digital outlook; you need to reinvent your company by incorporating a new digital culture. The following examples illustrate how you can do this:

• Introduce data related work in every sphere of your business. Give credence to data transparency and accountability

• Introduce a lean management work culture and give priority to continual improvement

• If the cultural change exercise cannot be extended to the whole of the company, then create a spin-off company with its management and bring a digital transformation over there

Digital transformation is the need of the hour. Those businesses that align with digital technologies today will reap the benefits soon. Those that don’t will be scavenging on dead meat. At Sage Software, we are home to industry-leading ERP and CRM software. Our products will let you establish a digital culture at your workplace and get you ready for the future. To know more about us, You can also write to us at sales@sagesoftware.co.in

If you Believe Your Email Open Rate Never Improves, Try This!

Reading Time: 2 minutes

Emails are one of the most effective ways to communicate in an office setting. They maintain official records and are a convenient instrument to deal with clients. Email marketing has been in existence for quite some time and is growing by leaps and bounds. But your email marketing campaigns will only be effective if you register an increase in email open rate. Here are 3 strategies to improve your email open rate.


Keep your email list fresh


Are your subscribers actively engaging with your emails? If not, then you should consider refreshing your subscribers’ list to increase email open rate. First, remove inactive members i.e. those subscribers who haven’t engaged with your emails for the last 6 months. Second, remove those who have changed their email accounts. Also, take out those people who are no longer interested in dealing with your brand. You can try to re-engage your inactive subscribers by starting a “win back email” campaign but if they show no interest, consider withdrawing their names from your subscribers’ list.

Also Read: 5 B2B email-marketing strategies to enhance your customer interaction


Segment your list


A prominent strategy to improve your email open rate is to segment your subscribers’ list. You should begin by putting different tags to different customers. This can be based on the following parameters:

  • Demography
  • Geography
  • Purchase pattern
  • Favorite products
  • Wishlists

Segmenting your subscribers on these lines will help you write impactful messages. Such messages will entice your subscribers and will ultimately increase your email open rate. 


Time your emails well

Sending your emails at the right time is an important factor that ultimately increases the email open rate. For this, you need to study your audiences well. You should know when most of them prefer opening emails. A/B testing is the best way to do so. It has usually been seen that people open hobby-related content before work hours and work-related content during work hours. According to MailChimp’s data, the best time to send emails is weekdays. You should take different parameters into consideration and time your emails perfectly.

The three strategies discussed above will certainly help you improve email open rate. But don’t feel low if you don’t find an immediate improvement. Always remember, good things take time. 

This is where we can help. At Sage Software, we are home to a world-class CRM system that will help you design better emails and build a long-lasting relationship with your customers. To know more about it, You can also write to us at sales@sagesoftware.co.in.


Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.

Machine Learning: A Quantum Leap towards a Smarter CRM

Machine learning
Reading Time: 3 minutes

Though your CRM system might be fulfilling all your customer relationship management needs, you might be amused to know how Machine Learning can add wings to your CRM solution. If you are looking to improve overall customer engagement, it is imperative to understand how CRM and machine learning can bring a catalytic change for your business.

What is Machine Learning?

Machine learning is a lot like (AI) or Artificial intelligence, which assists computers or machines to learn without the need of explicit programming. Its data analysis method automates analytical model building. The technology enables machines to perform new tasks after being programmed using historic data sets. It analyses past purchase patterns and helps predict future decisive actions of buyers.

The learning / programming method is such intricate in machine learning that it can find out hidden insights from a vast pool of data. For example, if you want to find out the underlying sentiment from several feedbacks received by consumers, you can use intelligent machine learning tools to understand, and filter the required data. Machine learning can be broadly classified into supervised, unsupervised and reinforced learning wherein the application of each is beneficial under different data set.

Machine learning can be used to resolve various business complexities, increases business efficacy through predictive analysis, improves customer segmentation and simplifies time-intensive documentation process. It also assists in sales forecasts and streamlining your marketing campaigns.

Whilst there is a lot of hype about machine learning coming into fashion as a game-changing technology, in reality, it might take a little long to come into everyday business use. On the other hand, machine learning and artificial intelligence (AI) are silently revolutionizing the customer service industry. These are constantly evolving and being fine-tuned in order to help businesses maintain stronger customer relationship.

Machine learning can infuse more value to a CRM system in the following ways:
  1. Predictive analytics

CRM system only concentrates on past data and gives you insights about customer data patterns. Whereas, machine learning evolves constantly and adds value to your CRM software. It automatically interprets past interactions and makes recommendations on how to strengthen customer engagement to achieve better outcomes. This is largely beneficial to e-commerce companies that face a huge number of customers and transactions on a daily basis.

  1. Demystifying the “Why”

Though CRM lets you view all your customer data at one place, it is incapable of interpreting the type of interactions happening between the customers and organization. For example, if a CRM system marks a customer as “on-risk customer”, you do not have a clarity over it. You need to spend time figuring out the exact reason behind the “on-risk customer” recommendation. Whereas, machine learning allows the system to learn by its own the reason behind such recommendations. The self-learning advancement empowers the system to demystify the “why” and discover the reason behind each recommendation.

  1. Encourage consistent use of unstructured data

Salespeople fail to jot down notes (created in those meeting rooms) that might benefit the marketing team. Your CRM only lets you view data inside it, whereas machine learning automates the processes and streamlines the representative’s work. It optimizes and tags unstructured though qualitative data like meeting notes, emails, and feedbacks or response templates etc. and enhances its value. The use of such unstructured data with the captured CRM data acts as cherry on top and becomes a great tool to drive better productivity.

Machine learning provides the opportunity to transform your typical CRM system into an intelligent predictive analysis system helping you understand your customers.

If you want to know how a CRM software can benefit your sales and marketing team, and keep your business ahead of the curve, reach us here. You can also drop us a line at sales@sagesoftware,co.in for free consultation.

Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.

How To Safeguard Your Business As Coronavirus Spreads

Reading Time: 2 minutes

Even after countries worldwide have adopted every possible preventive measure to fight against the coronavirus, it’s spreading like wildfire. Companies have already suffered massive shocks but more is yet to come. Business strategies formulated by revered pundits are failing to make any substantial mark. Business continuity seems like a far-fetched concept. But, in all this mess, a business contingency plan is the only way out. This article discusses 3 most important constituents of a business contingency plan that should appear in the list. 

1. Have an open discussion with your suppliers/vendors

Transportation of products from source to the destination has completely stopped due to the lockdown imposed by the government. This has made it difficult for businesses to ensure that customers receive products on time. Thus, for maintaining business continuity, companies should immediately get in touch with their suppliers and devise a plan to minimize the disruptions together. They should make sure that their supplier understands their needs and fulfills them on priority. 

2. Stand resolutely with your customers

Companies should be frank with their customers. They should let them know the challenges in delivering products on time. Also, they should tweak their business strategy and figure out ways of producing and delivering products on their own, if possible. Another thing that they can do is to provide products on more generous terms. They can issue discounts, and gift cards that increase customer stickiness and cash inflow. Moreover, they should also advertise the steps taken to curb the spread of the virus. 

3. Take care of your employees

A company is built by its workforce. Thus, it is ethically and morally obligated to take care of its employees. Following are some important things to keep in mind while formulating a business contingency plan

  • Employ remote working solutions so that your workforce isn’t exposed to the deadly virus while commuting to work.
  • Do not sack employees or cut their pay.
  • If possible, buy a coronavirus insurance scheme for your entire workforce.
  • Make sure that your business continuity plans contain the expansion of the work-from-home strategy even in the post-coronavirus world.

The world is going through a tough phase because unless we have a fool-proof vaccine, the coronavirus threat will linger around. Until then, companies need to play safe and make appropriate business contingency plans considering the needs of their workforce. This is where we can help. At Sage Software, we are home to world-class CRM, ERP and HRMS software that will make remote working a piece of cake, boost employee productivity, synchronize inter-departmental activities, and generate more profits. To know more about it, You can also write to us at sales@sagesoftware.co.in.


Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.

Top 5 Essential Metrics to Measure Business Success

Reading Time: 2 minutes

A business is said to be higher in the efficiency spectrum if it spends less time and resources to accomplish more goals. This is what business management software helps you do. Its data and analytics metrics empower you to manage resources efficiently and remove bottlenecks to speed up your business processes. Here are the top 5 metrics that you must look for while selecting the right business management software.

1. Lead conversion

Businesses may lose a lot of money if they don’t pay attention to how effective their marketing campaigns are. It’s imperative to know which among them is converting prospects into customers who are willing to purchase products from you. A business management software not only helps you do that but also saves time by identifying the most profitable partner relationships.

2. Sales Cycle

Businesses must keep a close watch on the time put into sales efforts versus the time it takes to close the deal. This is where a business management software comes in handy. It provides you actionable data that you can use to revise your sales cycle and make it better.

3. Net promoter score

A business management software empowers you to check customer loyalty towards your products. It does this by creating surveys that are marked on a scale of 1-10. Those who give a 9-10 are classified as promoters, 7-8 as passives, and 1-6 as detractors. The net promoter score is calculated by subtracting the net detractor percentage from the net promoter percentage. A high score indicates that customers like your products and would continue buying it in the future.

4. Margins

First, let’s understand what margin means. Suppose the cost to make a product is Rs. 100 and you sell it for Rs. 50. The difference between the selling price and cost price of the product is called the margin. The higher the margin, the more your profitability. Business management software helps you keep track of your margins conveniently and suggests ways to improve it.

5. Product usage

Product usage is one of the most useful metrics to check business success. This is because the more customers purchase your products, the more the probability of them buying it again. Business management software provides statistics that track how often customers:

  • Purchase your products
  • Renew your services
  • Average time spent using the product
At Sage, we are home to industry-leading business management software. Our ERP and CRM platforms have built-in metrics to measure business success such as lead conversion, sales cycle, net promoter score, margins, and product usage. To know more about it,  You can also write to us at sales@sagesoftware.co.in.


Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.



Using ERP Solutions to Bring Your Insurance Agency’s Accounting Up to Speed

Using ERP Solutions to Bring Your Insurance Agency's Accounting Up to Speed
Reading Time: 3 minutes

Enterprise Resource Planning (ERP) is a boon to organizations which help in integrating all company data from client enquiry to invoicing and follow-ups for AMCs on a common platform. ERP Solutions help the company to integrate the data of all the departments under one common database & hence it’s easy for searching transactional details & Inventory Data of the company and the particular branch easily.

Insurance Companies in India

The Indian Insurance Industry is a growing one which has several national and international players competing for excellence. With several reforms and policy regulations, the Indian insurance sector has witnessed tremendous growth in the past years in Insurance Sector. The growth in the insurance industry directly impacts the reinsurance industry. Reinsurance providers are basically companies that provide insurance cover to insurance companies to cover their risk. With the growth in the amount of insurance products sold by the insurance companies their risk component goes on increasing. So as to cover this risk, companies resort to reinsurance. Thus the reinsurance market is all growing at a rapid pace in India.


Insurance Company facing problems on Insurance Company’s Voluminous Data:

Since Insurance is a B2C industry largely, there is a huge number of data which needs to be maintained. Due to the data being financial in nature, it needs to be protected constantly. Now, in an insurance Company, the data is usually not maintained in one place and largely on paper. Hence, it is difficult to use for any purpose quickly. It is difficult to get hold of the important data quickly, due to non-segregation, non – uniformity in data maintenance, transactional Errors and departmental arrangements and hence cause unprecedented delays.


How can ERP Solutions prove useful for Insurance Sector Companies?

Whether it would be Life Insurance, Medical Insurance or any other Insurance Plans, but when it comes of tracking of data, the transactional amounts & their legal data, ERP Solutions are the best for any Insurance Company as it will help them for appropriate backup of data, tracking customer’s credentials & taking care of the legal agreements with the help of Updated modules & Reports in ERP

With the arrival of the globalization, the industry which is booming is the insurance industry. Many companies from all over the world are venturing into this insurance companies. In developed as well as underdeveloped countries there are lots of scope in this sector. The contribution of ERP is great in the sector of insurance for simplifying the big and the small operations.

Especially in three areas which are very vital this Enterprise resource planning has played an important role in this business sector. For the betterment and interest of the business ERP has facilitated coordination between the insurer and agents by solving the problems of both the fields. ERP has provided the insurer and the agent a common platform. By this, it has become possible to keep a track on sales of the agents along with ease in sales forecasting.

After implementing an ERP for Insurance Industry, the company can focus on streamlining their processes especially the complaint management and Claim processing part. This will help in a better turnaround time for the company and increasing the customer loyalty.

ERP solutions for Insurance Agency helps in a smooth assessing of damages, settling claims, difference between insured value and loss in time besides litigations. With the help of Enterprise resource planning software the data of different departments can be integrated on one common data base.


Rectifying Information Flow for Insurance Companies

In insurance sector executives are responsible for receiving the details of each and every minute process. If the processing information is delayed the executives can’t go ahead with solving customer enquiry and communicating important information to him. A Sales Person is the face of the company to the customer and today’s customers want their enquiries to be solved without any delay.

Hence, Sage ERP Solutions help the sales person to access his crucial data even on the go and from any device. This will not only help him be constantly updated, but also help in increasing customer loyalty.


Transparency is maintained:

The important part of the insurance sector is the agency. Selling, marketing and giving service are the important aspect of an insurance agent. After the intervention of ERP each and every transaction can be updated step by step. This move also helps the insured, he can know what is happening to his complaints. To know more about how ERP Solutions help can your company better, You can also write to Sage Software Solutions Pvt Ltd at sales@sagesoftware.co.in for a free consultation.