While there’s no all-up solution software for every business processes, ERP technology is getting better and better at bringing all your business processes together to improve collaboration, help your company make data-driven decisions, and advance business productivity.
ERP can cover a lot of company functions, but some of the main business processes include:
Modern ERP offers dashboards that give you an overview of your finances, so you can tap into the real-time information anytime and anywhere. It should also help you cut down on entering information manually by automating daily tasks and include tracking abilities that help with your business’s regulatory compliance.
Modern solutions offer ways to manage company data and streamline employee management tasks like payroll, hiring, and other duties. You could also track employee performance and identify HR problems before they happen.
This function improves business communication, automates daily processes, and offers manufacturers the ability to fulfil customer needs and manage resources by accessing real-time data. This solution also optimises project and cost management as well as production planning.
If your company is still entering information by hand and trying to track down stock in your warehouse, you can easily save time and money by automating these processes with ERP. Modern solutions also offer dashboards and business intelligence to help you get a handle on your stock management.
Despite all the options out there, some companies are still hesitant about ERP. There could be many reasons why, but where there’s a fear, there’s a solution.
FEAR: How do I know I’m choosing the right ERP solution for my business?
You don’t have to find the perfect software solution to fix everything. ERP should actually be able to take the best of the business processes you’re using now and bring them together under one system, while letting everyone in your organisation view the same information. This is where your choice of at technology partner is important.
FEAR: We can’t afford a major ERP overhaul.
A solution doesn’t have to be an all or nothing implementation proposition. Software solution modules can be purchased separately depending on your business needs. This will help your team ease into the implementation piece of ERP and it’ll save having to invest in a major software renovation without knowing whether or not the functions you’re adding will pay off.
FEAR: We don’t want to lose the systems we have in place now.
As we mentioned, any ERP solution you choose should work with what you’re using now but also include features that can help in your future growth. For instance, if the software you have mostly handles the financial, supply chain, and manufacturing sides of your business, you may want to look for a solution that brings in a strong business intelligence component.
New advancements in ERP technology can put you ahead of the competition. Not only do they help you enhance employee performance, but also offer opportunities for better customer engagement.
One of the ways you can take advantage of these advancements is by implementing intelligent business applications that let you