ERP, as it was mentioned before, is a way to optimise company operations by integrating all of the important business processes and datasets into one broad platform. But what would you need this for? Some uses include:
- supply chain management,
- order management,
- logistics,
- human resources management,
- inventory, and manufacturing, etc.
The list goes on for much longer, but the central point made here is that ERP solutions are especially flexible and can be utilised for a wide variety of business-related tasks.
Benefits
ERP solutions do not impact companies in the same exact way, but it is important to keep in mind some of the major benefits that you can expect to see. For example, ERP solutions allow for various sectors or teams within your business to communicate and collaborate with ease. By consolidating all of your company’s software into one, barriers to information are eliminated, and your workforce will be able to approach tasks together with increased productivity and overall satisfaction.
On a similar note, the integration of business processes helps to reduce overall company expenditures. When multiple departments are being run under separate software platforms, not only does the management of your company increase in difficulty, but also the cost to support them on each platform individually. Not to mention, under one software platform, data redundancies and errors become less frequent.
Additionally, ERP solutions can optimise economic forecasting capabilities, help you track project budgets, and balance a project’s billable to a non-billable ratio (Read more in 'Data Monetization' blog)
Finally, ERP can improve overall customer satisfaction by providing employees with easy access to information, thus leading to quicker response and service rates (Read more in 'Achieving governed data democratisation' and 'Benefits of data integration' blogs).
Why you should invest in an ERP?
If the numerous benefits are not enough to influence you into pursuing an ERP solution, there are also several practical reasons as to why you should.
1) Increase Security Levels
ERP solutions are typically provided by large, trusted companies. These service providers often have many full-time teams who are dedicated to maintaining the integrity and security of your software at all times. Different companies provide different levels of security at varying rates, which also gives you some freedom to find the right one for your business.
2) Increased Access to Industry Innovators
As mentioned above, ERP solutions are usually provided by second-party developers. When hiring their services, not only will you receive a new ERP system (which includes training, software support, and community membership), but also you will be introduced to new communities of dedicated industry innovators and dynamic brands.
3) Reduced Menial Labor and Stacks of Paper/Disorganised Spreadsheets
If an organisation is what your company needs, ERP solutions will allow all company forms, reports, timesheets, invoices and other relevant data to be stored safely and accessed from anywhere at any time.
