Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.
A complete ERP suite also includes enterprise performance management, a software that helps plan, budget, predict, and report on an organization’s financial results.
ERP provides complete visibility into core business processes and optimizes systems through superior resource tracking and reporting, database management and data sharing and overall improved information systems. ERP systems can allow your business to expand without the addition of IT or staffing costs. ERP systems enable business growth.
By synchronizing all of these areas, businesses are able to gain visibility, increase productivity and operational efficiency, reduce costs and enhance competitiveness.
ERP can enhance your business in other ways:
Make your business more agile. In a rapidly evolving business climate, being able to respond to change is essential. A good ERP system is flexible, modular and scalable enough to adapt to shifting market dynamics and changing customer needs. You can initially implement specific applications that make sense now and add on seamlessly integrated applications as needed as your business grows.
An ERP system can streamline your entire organization and put your data all in one place, enabling more accurate reporting and a more efficient, collaboration-based and data-driven work environment.
Grow your business. An ERP system can eliminate inefficiencies, wasted time and wasted resources, empowering your business to thrive and flourish. Implementing a new ERP system can be a big change for any business, the benefits can be seen almost immediately. You do not want to wait for the industry to pass you by.
