Have just been told about ERP and some of the things you can make your business achieve with the system?
In this post, you’ll find the basic ERP knowledge you need to have as an organization.
Let’s get started.
What Is ERP?
ERP is an acronym for the suite “Enterprise Resource Planning”. Defined by its purpose, this suite/system of pieces of software is used by businesses of all sizes and industries for the effective management of all day-to-day business activities. And by day-to-day business activities, I do mean such as risk management and compliances, procurement, accounting, supply chain operations, project management, customer relationship management, and the likes. Needless to say, ERP is also a handy software when it comes down to enterprise performance management activities such as report making, planning, budget making, and prediction making.
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So, is ERP a good investment to your business or not?
Benefits Of ERP To your business
- COMPLETE VISIBILITY; as the major advantage of using an ERP system over not using one, the software allows the visibility of all your business activities and results from each department at a glance. Such clear visibility without the need to work through multiple pieces of software will help you to make data-backed decisions with confidence at a great speed.
- FOCUSED IT; another great side to leveraging an ERP system is that you have all your IT operations unified in one simple system. This way, you escape a large investment in disparate systems which you would need more operators and an additional operation infrastructure. For small businesses and startups most especially, an ERP isn’t just a way to get up and running with minimum capital but it also improves operation efficiency. Yay!
- FLEXIBILITY IN MODULE; the enterprise resource planning software is super-flexible in the sense that it can be custom-designed from the ground up to align with your brand in a unique way. Depending on your ERP vendor, you can discuss it over together to create an ERP suite that allows both an individual and an integrated usage of the pieces of software. Finally, you may also opt for a cloud-based ERP software that can be used off-site or an on-premise physical one that will be installed on the company’s server or computer.
- DATA SECURITY/QUALITY; as all operations are done and stored within a centralized system, errors can be brought to zero during analysis and calculations, resulting in the production of secured, quality data.
- IMPROVED, STANDARDIZED WORKFLOW; as ERPs are done to industry standard while putting your brand’s unique working system in mind, your workflow is standardized compared to using a set of generic systems.
- IMPROVED SUPPLY CHAIN; especially if your business is centered on moving physical goods, your supply chain gets more precise and clear from inventory to supply.