ERP, also known as the Enterprise Resource Planning is a software that earlier were used by multinational and larger companies because it is quite expensive to handle and requires a professional IT team for maintaining it. However, nowadays the smaller businesses are also making use of ERP. While these systems may not be able suitable for very small businesses, it can be adopted by the midsized firms. Most of the companies that make use of ERP software are- healthcare facilities, retail stores, gas and oil producers etc.
How ERP is boon to a company?
Every organization needs to look for solutions in order to meet the needs of the business. Here are various reasons why businesses should adopt ERP for their business needs:
- Using one system for business management– The benefit of using ERP solution is that you can manage various important aspects of your business with only one system. For example, the functional categories of an ERP solution consists of-quality management, sales management, finance, human resource, purchasing management etc. Therefore, if a company is not making use of a solution like ERP, then it is definitely making use of some other application and if the companies are managing all of these functions separately, it may give rise to a lot of problems like duplicity of records, errors in data, and lacks visibility. ERP will integrate all these functions into one system and facilitate communication among everyone.
- ERP solutions can be upgraded easily– ERP software is planned in such a manner so that it is adaptable, flexible and accessible for growth. Another important benefit that is served by ERP system is that it allows managing different stakeholders like suppliers, customers, and partners. For example, in case of e-commerce, the users can enjoy a smooth experience like one-click ordering.
- Streamlining Business processes– A business has consider and reevaluate the work flow and the work processes before selecting an Enterprise Resource Planning. ERP systems are beneficial because it allows a business to enhance its accuracy, efficiency, and speed in the operations of the business.
- Meeting the expectations of the customers– Every individual have different needs and the customers have high expectations from you. Implementing an ERP system is beneficial because it offers a communication tool where the employees can check the communications done by the customers previously. It is a global platform. For example, when a customer approaches the customer service for resolving an issue, the employee can check the previous communication of the customer with the company. By doing this, the employees can provide high-end services to the customers in order to meet its needs and satisfactions.