By definition, ERP (Enterprise Resource Planning) is a software that combines all the functions needed for a business to operate. Since there are many aspects to a business such as inventory management, accounting, sales, accounts receivable, accounts payable, and human resources just to mention a few, an ERP solution integrates all these functions into one program. Basically, ERP connects all the threads into one comfy sweater.
ERP may sound complicated or something only large corporations need to worry about. Not so. With the internet at our fingertips, we’ve all gotten used to having a lot of information accessed immediately. Well, that’s what an ERP solution can also deliver to an organization of any size. Sound expensive? Not really. With many options including subscription-based cloud hosting to having the software installed on a server in your facility. All organizations can find a solution that best fits their needs.
The year 2020 has certainly presented itself with some challenges. Let’s take a brief look at some of these challenges and what an ERP solution could mean to an organization.
- There is always a need to have accurate, real-time information, and the ability to respond quickly to the changing business climate. With all the moving pieces in a business including accounting transactions, production records, CRM data, just to mention a few, there’s a need to have accurate, real-time information in order to make good decisions. Having all the internal functions of business intertwined, an ERP solution manages all the data for you. This one-stop shopping is invaluable for good decision-making.
- When organizing life, we usually put like things together. For example, the food items are in the kitchen area and clothing items are in the closet. Well ERP puts the like items together for you. In the workplace, if you find yourself managing information in multiple spreadsheets or between multiple programs or apps you probably could benefit from an ERP solution. ERP puts all the like items together eliminating duplicate and redundant processes you’re doing across multiple applications, reducing the risk of errors giving you real-time results and accurate information.
- Let’s talk about costs. Managing a lot of information across multiple platforms and solutions is costly in both licensing, labor, and training. If you’ve ever run into the instance where the person who ‘knows’ that program or process is out and things either slow down or stop, you know what I’m talking about. Having the need to cross-train and manage multiple software solutions is challenging. ERP solutions can reduce your training costs, user errors, and data integrity.
These are just a few scenarios where an ERP solution is a good fit for any size organization. If you feel that a comprehensive ERP software solution might be the answer for you, there’s no time like the present to find that ‘right’ fit for you.