The need for businesses to react appropriately in digital age, using the right solution to optimise rigorous internal processes and deliver greater value, was the focus of one-day Lunch & Learn seminar in Lagos organised by Infor and Tabor Energy Solutions, (TES).
Speaking at the occasion, the Managing Director and Chief Executive Officer of Tabor Energy Solutions, Raphael Adebiyi, observed that there is a need for a standardised business solution strategy like the Enterprise Resource Planning (ERP) for productivity, revenue increase as well as quality reports and performance analysis to drive digital transformation in businesses.
ERP, is a modular software system designed to integrate the main functional areas of an organisation's business processes into a unified system.He said the innovation for business solution is gratifying as the agenda of the knowledge sharing session is centred on helping enterprises optimise their cumbersome internal processes to deliver greater value.
The event, which drew participants from information technology industry, construction, Oil and Gas sector and banking, was titled, "The Role of Enterprise Resource Planning in Digital Transformation & Process Optimisation".According to him, ERP has been designed to integrate and allow for the continuous updated information of the main functional areas of an organisation or SME's business processes into a unified database system, adding that it is optimised for back-office transactional processing and operational support. However, he noted that the challenge for business owners is to understand how best to harness the business technologies for business objective. "In Nigeria, the operation of ERP for business digital transformation and process optimisation has become a dire need.
This is due to the fact that firms are becoming more innovative in their technical infrastructure, more competitive in their industries not to mention, exploring more collaborators and business partners to exploit more business opportunities. ERP solution/system will aid business process such as planning, purchasing, inventory management, manufacturing, sales, marketing, finance, human resources, payroll, production, customer relationship management, supply chain management just to mention a few", Adebayo stated.
According to the MIT Center for Digital Business, companies that embrace digital transformation are 26 per cent more profitable than their average industry competitors and enjoy a 12 per cent higher market valuation. Consequently, new digital technologies like social media, mobile telephony, and data analytics are a current reality in the economic landscape".
On his part, TES Infor Channel Account Manager, Manouel Samper, who spoke on Infor Overview remarked that business runs on talent saying that growing companies need human capital management solutions that work, and work well, especially as business growth demands a wider range of capabilities, without adding unnecessary maintenance, deployment time, and cost.
Samper revealed that the modular software will increase revenue efficiency, just as it guarantees strong return on net assets, drives profitability and revenue efficiency in asset-dependent oil and gas sectors, including upstream, midstream, downstream, and services companies.
"To achieve peak performance from your critical equipment and facilities, you need a comprehensive management process, enabled by industry-focused asset management software, to help you continuously monitor how effectively you're operating your revenue-producing infrastructure. Infor EAM for oil and gas helps midstream companies optimize their performance while maintaining the highest levels of reliability, safety, and compliance with standards. It offers unparalleled linear asset management features, including available GIS and advanced reporting for pipelines", Samper said.