Enterprise Resource Planning (ERP) is a type of web-based system that helps organizations automate and manage key business processes for better performance. ERP software coordinates the flow of information as a source of truth between a companys business processes and the operations taking place within the company. It is able to combine a companys financial supply chain operations corporate reporting and human resources operations on a single platform. Most businesses have financial and operational systems in place but the systems cannot overcome closed processes or day-to-day activities. This will help to expand the business in the future. As businesses expand and their needs change their systems must keep up with them. In this article you will learn what ERP is and how software tailored to your needs can help your business become more agile and efficient.
Modern ERP software systems
Historically ERP systems were stand-alone systems that operated independently and did not interact with other systems. Each system requires complex and expensive custom code to meet unique business requirements that delay or prevent new technologies or process optimization. What makes ERP software different today is that it supports all these different processes in one lightweight system providing data connectivity not only within your ERP system but also through e-commerce productivity tools and customer engagement solutions. It helps you optimize processes in your organization by allowing you to connect all your data for better understanding. Additionally modern ERP solutions offer flexible deployment options for increased security and privacy as well as low-code customization. Most importantly it builds continuity and resilience into your business and processes through insights that help you create today faster while preparing your business for the future.
Why is ERP important for business?
While there is no single solution for every business process ERP technology is getting better and better at bringing processes together. Get business intelligence acceleration and adaptability to start optimizing your operations once your process systems and data are connected.
Here are three ways an ERP system can improve your business:
- Drive optimal performance. Solutions that use artificial intelligence give you access to insights to improve decision-making and find ways to improve future operational performance.
- Accelerate operational impact. By linking processes and data youll give employees greater visibility and flexibility helping them act faster and create more value across the company.
- Ensure business agility. Many ERP solutions are built to adapt to your needs and help you proactively prepare to grow with you and respond easily to any operational disruptions or market changes.
What business functions can be optimized with ERP?
An ERP system can handle many of your organizations key functions breaking down barriers between the front and back offices and adapting solutions to new business priorities. Among our main business activities are:
Commerce
Todays retailers face many challenges and ERP systems can provide comprehensive business solutions that unite the in-store and digital back-office experiences. Customers gain a more personalized and seamless shopping experience with AI recommendations while retailers increase employee productivity to reduce fraud and grow their business.
Finance
Modern ERP increases profitability while simplifying compliance. It offers a financial overview dashboard and AI-powered insights that puts real-time information at your fingertips anytime anywhere. It should also reduce manual data entry by automating routine tasks and have tracking capabilities to help companies comply with regulations.
Human resources
Modern solutions offer ways to better manage company data and employee management functions such as payroll and other tasks. Youll be in a better position to train and assist employees as you can track employee performance and help identify HR issues before they happen.
Manufacturing
These ERP capabilities improve business communication by automating daily processes through robotic process automation and give manufacturers the ability to meet customer needs and manage resources by accessing real-time data. It improves cost management project management and production planning.
Supply chain
If your company tries to track inventory in your warehouse while manually entering information you can save time and money by automating these processes with ERP. Modern supply chain solutions also offer dashboards with business intelligence and Internet of Things (IoT) technology.
