ERP, Enterprise Resource Planning is a software system which will give great benefits to businesses to make all operations under one roof by using centralized and integrated systems. It is an integrated system where all your operations like Sales, Purchase, Accounting, Manufacturing and customer services are in a single database with great UI.
The main goal of an ERP system is to provide a centralized and integrated system for any business but how is it better than any other solutions ? There are various reasons to make ERP system a distinctive than other competitors in the market which are listed below,
Top Reasons Why ERP Systems Are Important to Boost Business
Cost Effective :
ERP implementation is not cheap but while using it in organizations which give results to save money. An ERP unifies many systems which are currently fragmented in your organization, i.e Different system for Product development, Supply Chain Management, IT Support and management etc.
This unified system will help businesses to make cost effective and improved business processes and it will save money by eliminating training of different systems. All the departments have to undergo only one system training which will save time and cost associated with it.
Improved Collaboration
The features and functionality of an ERP system can vary depending on the system that you are using, but all these systems provide you to edit and share data as well as improve security and access. There is no need to merge information across different systems or sources because all of the data is stored, shared, Compiled and accessed through a single system without concern about how accurate, complete or secure data files are.
Better Reports in Less time
An ERP system can make it easy and fast for your team to generate different reports which includes income and expense of the company and customized reports based on metrics and trends. An ERP system has the ability to access all the data quickly which will help your team to generate reports quickly which will help to make decisions very quickly. No need to rely on your IT staff to prepare report because you can easily get it from the system itself.
Improved Productivity
Without, An ERP you or your teams have to complete the tasks manually, Sometimes there will be redundancies in operation and waste of time for doing repetitive tasks. This will create a negative impact on your bottom line. An ERP will help us to save time and which results in a positive affect on your company’s efficiency, productivity and profitability.
Happier Customers
Nowadays customer service is an important part of any business because on the digital edge people are using the internet to gather information about each and every product that they are likely to purchase. The right ERP system used in various marketing tasks i.e Lead Generation, Customer Acquisition, Customer support & services, Customer Retention. The system can help you for better communication with your clients and customers at various stages of process.
Simplified Regulatory Compliance and Risk Management
ERP systems will have inbuilt auditing tools to help with some documentation or reports which can be submitted to relevant administration. Apart from this ERP systems usually provide tools to manage risk. The ERP system will improve reliability and accuracy of financial management as there is less error during accounting entries. Also forecasting tools are available which help organizations to decide demand, labour and budget.
Improved Inventory and Production Management
If your organization is dealing with production process or Inventory management then you can get benefit from ERP systems. An ERP can be used to improve production planning, Shipping & delivery schedule and many more and help to make it simple and easy to improve your efforts rather than guessing about volumes, processes and more.
Some Advantages of using an ERP System:
It will reduce paper documents in business
Accuracy in Information gathering and management
Customer support with Fast Response
Better monitoring on business and quick resolutions on queries
Increased invoicing control and payment processing
ERP system will help to integrate all other departments and manage it using single database
ERP system with BI tools which give better reporting for business
