We talk a lot about the various reasons for why your business should invest in a comprehensive ERP (Enterprise Resource Planning) system; from integrating financial and operational management systems to improving the quality of products and services, the benefits abound. However, it may not be apparent what exact features and results can be expected. Which is why we’re here to explain what ERP actually does for you.
ERP; AN INDUSTRY STANDARD
In the 21st Century, ERP software has become a broad and varied industry. Once the exclusive realm of manufacturers and other industrial businesses, these days it can be found in most any enterprise industry thanks to the adoption of modern technology and emphasis on utilizing “Big Data” to improve processes and services. It’s no longer a question about whether ERP is right for your business or not; it’s about which ERP features and products you want most.
The only limitations inherent with an ERP system today are those on the business end. Can your software developers keep pace with new requirements and functions? How many business operations do you actually want it to control/report on? Modern ERP systems have a module for almost every conceivable task, process, and function your company can come up with. To name a few;
- Purchase Order Processing
- Shop Floor Management
- Product Configuration
- Project Management
- CRM integration
- Business Intelligence and Analytics
- Forecasting
- Human Resources Management
- Financials (sales, payroll, etc)
- Quality Control
ERP; BRINGING YOUR ORGANIZATION TOGETHER
Your business may already have multiple systems that handle all these tasks and features individually, but the beauty of an ERP is that it centralizes all of this valuable data into one interconnected system. This prevents the negative attributes associated with “information silos”; lone pieces of software where integral information is stored separately from each other, unable to interact and affect each other in meaningful ways. With an ERP bridging all these areas together, you can give your sales team real-time access to inventory levels and order statuses which allows them to give an “honest” report on availability. Similarly, by accessing the CRM, the marketing department has a better idea of which products/services are performing best which allows for more accurate forecasting and budget allotments as well as improved customer interaction and satisfaction. All of these features end up providing a better product and customer experience while at the same time saving time and money on the company end – everyone is happier!
At the end of the day, your company shouldn’t even be considered about whether they should or shouldn’t invest in an ERP system; that’s a given in 2015. The question is – how to find the right ERP system. The benefits of an ERP speak for themselves, as better customer satisfaction and improved products/services guarantee an increased bottom line and increased market share. However, careful consideration should be taken when researching and choosing the right ERP for your specific industry, or you will end up on the list of “Failed ERP Implementations” which many naysayers point to as a reason to not think about using such a revolutionary business update.
That’s why we at ECI have put together this comprehensive yet easy to follow plan for how to choose the right ERP for you. No sales tactics, no bias, just the pertinent steps you need to take when planning for and selecting an ERP system.