What Is Enterprise Resource Planning (ERP)?
Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results. Today, ERP systems are critical for managing thousands of businesses of all sizes and in all industries.
The importance of ERP revolves around what it can do for your business. ERP manages a number of business functions through streamlining and automating daily business operations. The software creates a leaner and accurate operation and provides a complete, 360 view into the ins and outs of your business. With the software, businesses are able to improve both user efficiency and productivity, becoming agile which improves customer service.
Why ERP is important and why to use it?
1. Improving Process Efficiency
An ERP solution reduces the need to manually enter information, which not only improves user productivity, but it eliminates the possibility of inaccurate data which could lead to making costly business mistakes. Think of ERP as an extra hand and brain, designed to keep businesses on track, noticing every detail and making work life easier and more efficient, from software users down to its customers
2. Accurate Forecasting
Enterprise resource planning software gives your users, and especially managers, the tools they need to create more accurate forecasts. With stronger forecasting, businesses can effectively decrease business costs.
3. Cost Savings
With one source of accurate, real-time information, enterprise resource planning software reduces administrative and operations costs, allows businesses to utilize money in other, much needed areas. It allows manufacturers to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. If you’ve chosen the right solution for your business, and the right vendor who meets your needs, you’re bound to see a powerful ROI.
Do you often have time sensitive projects that have hard deadlines? Use ERP at home, in the office, wherever, through our mobile-friendly solution and application.
5. Customized Reporting
ERP software helps make reporting easier and more customizable, fit to meet all of your needs. Users can also run their own reports without relying on help from IT, saving your users time to use toward other projects.
6. Increased Productivity
By having redundant processes automated, users have more time to work on other time sensitive, pressing projects and tasks that may truly require more of your attention and time. Users will also be able to work easier since the solution was designed for ease-of-use. ERP was designed with ease of use in mind, as well as giving business a break from long winded tasks, allowing you to shift your focus toward other matters.
7. Regulatory Compliance
Powerful ERP solutions are designed to keep track of regulations within the industry and monitor changes in compliance. This allows users, and businesses at large, to stay abreast with laws, regulations, guidelines and specifications as it relates to business processes.
8. Department Collaboration
Collaboration between departments is a essential and often necessary part of the business, especially because business projects often involve more than just one department. The software manages almost every aspect of a business, thus naturally encouraging collaborative, interdepartmental efforts.
9. Integrated Information
Enterprise resource planning software acts as a central hub for all of the important information that your business and the departments within it need to maintain daily business practices and operations. This means you can integrate platforms like your CRM software with the ERP system, keeping data consistent, accurate, and unique. Know your customer, their orders, and your inventory, all in one place.
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