What do a clothing business and an IT firm have in common? The need for ERP! ERP or Enterprise Resource Planning is an integrated system that can be used to manage all aspects of the business, from finance to supply chain. It is a modular system where you get to pick and choose the modules that you want to implement for your business. You get freedom to customize the ERP system according to your needs. How does integrating all your processes into one system benefit your business? Let us find out!
Improve Data Security
ERP stores all the company data in a single data warehouse. This warehouse comes with firewalls to ensure that the data is safe from external attacks. In addition to this, ERP also lets the administrator control who has access to the data.
You can selectively block access to protect sensitive information. Everyone in your organization will be accessing data from a single source. A single data repository improves accuracy and consistency as everyone in the organization is working with the same information, and there is no data mismatch between departments.
Streamline Your IT Investment
Without an ERP system, you will end up using different software solutions for different aspects of the business. You may have one to manage the supply chain, another for accounting, and another one for human resource management. Even if this costs less than an ERP system, there are hidden overhead costs that you're probably unaware of.
Your IT department will have to implement each system separately, and also train the staff on each of them. All of this takes time and resources.
With an cloud-based ERP software, however, you can train all employees using the same platform. It reduces the workload of the IT department and makes your IT more efficient and streamlined.
Since an ERP system integrates various aspects of the business and stores all the data, it becomes easier to generate reports that offer valuable insights regarding the state of the business. The ERP system also generates reports that can help the upper management make vital business decisions.
- to find out if you have excess inventory? What were the sales? Have the sales increased with the implementation of a new decision? You can get the answer to all these questions via an ERP.
Custom Business Solutions
As mentioned before, ERP is a modular system. It is a combination of several applications, each suited for a particular business aspect, that all work in tandem to create an integrated system.
Whether you are a small business that only needs a few of these applications or a big business that requires the complete set, there exists an ERP system that will be perfect for you regardless. Similarly, these systems are designed to scale with your business.
You can increase its functionality and accommodate more features as the needs of your business increases. You can even choose if you want a cloud-based system or an on-premise one.
Increase Internal Collaboration
Have you ever felt that different departments in your organization seem to be functioning independently? This happens when each department only deals with what concerns them. It often leads to duplication of effort.
With an ERP system, all data, apart from the highly sensitive ones, is accessible to everyone. It leads to better collaboration within the organization.
For example, the sales team can use the data from the manufacturing sector to set better targets. An ERP system will convert your organisation into a well-oiled machine where there is increased collaboration across all sections.
Implement ERP Today!
In addition to the benefits mentioned above, ERP also improves efficiency across the organization. The benefits, however, are not just limited to the operational aspects. Your customers also reap the advantages of ERP. By centralizing the client information, you become better equipped to pay more attention to each customer's needs, thereby increasing customer satisfaction.
ERP solutions even come equipped with Business Intelligence tools that help you gain a deeper understanding of your organization’s needs.
The increased efficiency, improved collaboration, customer satisfaction, and better planning naturally lead to an increase in business revenue and also a reduction in operational costs.
In this digital age, an ERP is the best thing you can do for your business. If you haven't already implemented one, there is no time to waste. Start your ERP implementation today!