A quick Google search for ERP will show you hundreds of results, all of which claim to have the most perfect definition of ERP. But as someone looking for ERP solutions for their business, this overwhelming amount of information often gives the wrong impression, not to mention the confusion it creates in your mind.
From the Material Resource Planning (MRP) to the great features and addons, ERP has come a long way. Before you reap the benefits implementation of ERP can bring to your business, it is better to understand what ERP means, what it stands for and then delve into the finer aspects of the ERP system.
What is ERP?
ERP stands for Enterprise Resource Planning, however, just knowing the full form of the acronym won’t help. To understand ERP better, you must consider each process right from planning, procuring, to inventory management, human resources, accounting and customer relations. An ERP system brings all the individual processes under one single dashboard streamlining them for easy management and operation.
This allows you to efficiently control the operations and processes using a single dashboard. The main ideology behind ERP systems is to use a shared database that every employee can access and use at multiple points to control and rationalize individual processes without hassles.
Let’s look at how introducing ERP into your existing business can help to improve its operations and capabilities.
Reporting & Operation
While having all your operations under one dashboard is an advantage when you are running a big business, most ERP systems available in the market today offer synchronized reporting and automation features, which make life much easier for your employees and you. With these options enabled, each employee won’t need to maintain a set of separate databases and spreadsheets that are required to generate a single report.
The system can put together the necessary data from the database and create reports as required. An example can be the automatic logging of your sales into your financial system without any manual re-keying needed. This automated process not only allows your management system to manage and process all the orders much more efficiently but also saves a lot of time, effort and money in the long run.
Another useful feature of using ERP systems is that you can understand how your business is performing based on certain parameters instantly, without scheduling a meeting to understand your business's performance.
ERP’s Business Value
With all the benefits mentioned above, you can understand how valuable an ERP software having to manage your business processes can be. Mentioned below are the most significant advantages of having an ERP system in place.
1. Real Time: As mentioned before managing a big business calls for having an overview over every aspect. But with each individual process running on their own, it becomes hard to track all their performances. With an ERP system, you can see all the key metrics on one single dashboard instantaneously in real time, thus enabling you to address concerns proactively and drive improvements.
2. Improved Finances: When things are not organized, there will be times when important updates will fall through the cracks without you realizing it. Having an ERP system will help to keep a close look on your business finances and measure them across key metrics, allowing you to have better financial compliance across regulatory standards, thus, in turn, reducing your overall risk.
3. Automation: We must agree that there are several aspects in every business that can be automated completely. Automation not only increases efficiency but will reduce your overall risk. With an ERP system, all your core business processes, like inventory management, accounting and even supply chain management can be seamlessly automated and managed using a single dashboard, thus making the entire ecosystem much simpler to manage and run.
4. Customer Relations: No matter which industry you are in, maintaining a steady and healthy relation with your customers and clients is very important both to sustain your business and to reach new heights. One of the best advantages of having an ERP in place is that you can provide all your employees with a single interface for billing and relationship management so that no one will have to reach out to multiple teams to reach a simple solution.
In the rapidly growing global business ecosystem of today, ERP systems are more advanced and now have features that include business intelligence (BI) among others. New features and tools are being constantly added making this is the right time to get an ERP system for your business or organization if you want to stay ahead in the race. Canais ERP offers plenty of features that help you run your business seamlessly. If you’d like to know more about canaisERP solutions, then connect with us on1800 1200 427or mail us your queries at email@example.com.