- What is ERP?
- What are the benefits of an ERP system software?
- Does my organization need an ERP software?
- What is meant by Enterprise ERP Trends?
- What kind of companies need ERP software?
ERP stands for "Enterprise Resource Planning". It is an integrated software solution used to manage a company's resources. ERP systems integrate all business management functions, which includes planning, inventory/materials management, engineering, order processing, manufacturing, purchasing, accounting and finance, human resources, and more.
The benefits derived from ERP can far outweigh the costs of the system, providing that the system is selected carefully and is appropriate for your company from a feature, cost, and technology standpoint. Some of the benefits are:
Reduce redundant data entry and processes.
Improved access to information.
Improved workflow and efficiency.
customer satisfaction based on increased quality.
Diminished inventory costs come from improved planning, tracking and forecasting of requirements.
Turn collections faster based on better visibility into accounts and fewer billing errors.
Decrease in vendor pricing by taking better advantage of quotation comparison and tracking vendor performance.
Track actual costs of activities and perform activity based costing.
It’s impossible to ignore the impact of ERP in today’s business world. As enterprise data and processes are corralled into ERP systems, businesses are able to align separate departments and improve workflow, resulting in significant bottom-line savings.
When a business is in a rapid growth phase, businesses requirements can become highly ineffective. When this happens, retrieval of information is difficult and the organization suffers, often unbeknownst to the business owners.
Below are the benefits of using ERP software:
Cost Benefit Analysis
Business Specific Requirements Implementation
Cost of Implementation
Employee Feedback on the ERP
Long Term Planning
Post Implementation Support
ERP software is beneficial to large- and mid-sized companies accomplishing in a wide range of industries, including hospitality, manufacturing, pharmaceuticals, telecommunications, healthcare, energy and utilities and many others. In recent years, however, small- to medium-sized organizations have fueled a majority of growth in the ERP software industry.