Enterprise Resource Planning is a highly effective and collaborative software having a range of applications that help in managing of core business processes and procedures like sales and marketing, um resource planning and management, customer support and management and chief processes in manufacturing and inventory business. What makes ERP an ideal choice is that it offers an integrated environment and you can manage the entire department with a single software.
As a centralized system, ERP software assists businesses in collecting, storing, managing and interpreting data for various purposes, especially in marketing and sales. With the help of the data and information collected by the ERP, departments can make the required revisions and processes for the betterment of the business. Optimized and managed correctly, ERP can restructure workflows and bring more efficiency and profitability.
Which business operations does ERP support?
ERP software is quite versatile in nature as it can be used to manage and optimize several different core processes and features like:
- Financial management
- Customer Relationship Management
- Sales & Marketing
- Human Resource Management
- Manufacturing, Inventory, and Purchasing
- Supply Chain Management
Talking about a usual and traditional business setup, a company has multiple departments like marketing and sales, human resource management, manufacturing and supply chain management etc. to manage these departments and its working, management has to make some processes and systems to ensure its smooth and unceasing activity d ERP helps them do it with ease. The chief purpose businesses use ERP software is that they want to decrease distraction and increase productivity and better results.
However, before implementing anything, businesses need to discern why they want an ERP software for their company, there could be many reasons and it is always a good idea to break them down and see if the chosen ERP is right for the business. Following are some of the key reasons why businesses move towards having ERP solution for their industry.
To boost business competence
Business operations run on a number of processes like marketing, sales, production, human resource, procurement etc. and to increase their efficiency, business are inclining towards integrating ERP into their business operations. ERP is an integrated and automated platform, which simplifies business operations by minimizing the hard work of maintaining separate files and documents.
With an ERP, it is easier to gather and access information and consumer data and share it with other team members while making the generating of business reports, entering ad updating of information automated and effortless. It minimises repetitive tasks like accessing the sales statistics, reports and online web reports without troubling the technical department.
ERP setup comes with a fully functional dashboard that can be accessed by the managers and key decision makers involved in the project to see the key performance indicators, statistics and ROI that could help them in tailoring their future decisions and actions as per the requirements.
To support teamwork
ERP is an excellent and ideal option for teams that want to break the barriers between multiple teams and departments. As the business model has evolved, now many businesses work digitally and virtually as it is quite economical and convenient to operate through an online system rather than setting up an entire office. ERP simplifies the collaboration between teams as the can access their task section from their dashboard and work with ease.
Besides small and medium-sized businesses, ERP is ideal for businesses that want to extend their operations and offices and want to keep the collaboration strong among all of them. With an ERP, offshore businesses can keep all of their business units connected with the main one and encourage the culture of innovation and team play between the units and teams.
To generate accurate forecasts
A forecast is crucial for taking important decisions and designing strategies for multiple purposes and, therefore, having a dearth of accurate or useful information can be considered harmful for business. An ERP gives a centralized system that supports an organization’s multiple operations, which increases business data reliability.
ERP has advanced and better tools to ensure near perfect forecasts, important for key decisions related to sales and marketing, customer retention and financial planning, ERP’s de-duplication feature makes sure that the data is not duplicated and the acquired one is without any inconsistencies.
Advanced ERP utilizes machine learning and predictive algorithm that helps the managers in making accurate forecasts and digging into the data deeper and greater efficiency. Big companies and organizations that have complex business operations and data sources can use ERP to attain insights and get competitive advantage.
To minimize operational costs
Running of business operations largely depends on how smoothly and well, its processes and functions are running and with an ERP, you will be able to achieve it easily. With closely and accurately monitored metrics, there are fewer chances of delays and disruptions, which cut down the cost required for operations.
The situation is especially relatable for the manufacturing and FMCG companies where there is manufacturing, production, distribution, and inventory are involved. With an ERP software, multiple units including production, designing, consignment management, customer service etc. can be managed simultaneously that is useful in resolving the issues at the same time ad achieving real-time data.
To enhance data protection
ERPs come with highly advanced and secure data protection systems that provide excellent and reliable restriction against data and information stealth. Instead of multiple access points and gateways, having a centralized and single control unit means that the access would be restricted and limited. The admin may monitor the gateways and lock away sensitive information for certain users without limiting their access to the system and other information.
The feature is quite useful as through this tool, the admin can limit as well as completely restrict the access of terminated and ex-employees from the system so that no unauthorized person may enter it. ERP system shows the actions of other users and how they are using the system and accessing the information, which is helpful as the admin can spot any unauthorized and illegal activities and halt them in time.
ERP offers myriad other benefits for businesses and any organization looking to move forward in their business operations benefit a lot from it. however, choosing a good ERP and certain Things to look for in your ERP must also be the part of the plan as without choosing the right one, you cannot benefit from its full potential.
Looking for a reliable ERP service provider?
Boundless Technologies pride in offering and providing the most useful and reliable ERP system integration and support. We have been helping a number of businesses in upgrading their operations by providing the best in business ERP solutions and fast-tracking their operations.