Do you have an ERP system at your business? Do you feel it is inadequate for your needs?
What Is an ERP System?
ERP (Enterprise Resource Planning) is a type of software which falls into the category of enterprise applications .i.e. system which is designed to facilitate multiple business departments and ease their processes. Such systems are a necessary cog for any business operating in industrial setting such as manufacturing, retail, supply chain, education, healthcare etc. because they are fully able to manage the operations with their modules.
Features of ERP System
Usually, a good ERP solution comes up with the following features.
Integration
Unlike other software solutions, an ERP system provides complete integration. What this means is that upper management can go through data of all departments like sales, marketing, IT, and view it to make rational decisions. Hence, it acts as a necessary tool for seamless communications among different departments.
Automation
ERP systems are often linked with “automation” and there is a good reason. All the previously manual office routine tasks like data entry, invoicing, reporting, accounting, etc are now fully automated as ERP which provides these features as part of its highly invaluable package. This multi-faceted automated functionality then proves cheaper because it decreases a great deal of man-hours for organizations, thereby saving resources and also allowing them to work on more crucial tasks.
Data Analysis
We live in the age of data analytics. Organizations do not only store data but also thoroughly analyze it to improve and modify their business strategies. As ERP collects data from different sources, it then also accumulates it at one place to provide analysis for management. These analyses can be used to check the performance of a product or service or going through the performance of an employee with a wide range of available charts.
Customer Relationship Management
Customer Satisfaction is the key. Fostering healthy relationships with customers is important for businesses. Here, the CRM module in ERP systems can prove to be a good advantage for businesses that rely on spreadsheets to manage their customers. A well-built ERP system has a CRM which can quickly listen for a customer’s requirements and respond with the best solution in a timely manner.
Accounting
ERP also assists accountants and financial professionals to go over the financial accounting and financial management. With built-in financial tools, ERP systems are able to keep track of accounts payable, accounts receivable, asset management etc. Likewise, to go over currency management and for tax compliance, adequate tools are provided in ERP systems.
Final Thoughts
Now, that you have read about the basic idea about an ERP system and its general functionalities, perhaps you might want to give it a chance. Modern businesses use such systems to get a strong edge over their competitors. Hence, do not be late to the ERP adoption. To get the best ERP systems, contact ErpBooks so we can examine your business and provide you with an ERP system that can boost your revenues.