Bring order out of chaos—the power of ERP solution
No matter the nature of your business. The ERP solution can pay off in company growth and value creation.
The hidden charm of acronyms leaves no room for interpretation: either you know the acronym’s meaning, or you need to google it.
It so happens that even when the literal value of the abbreviation is known, the meaning of the underlying concept is not entirely understood.
Looking into the Information Technology field, the king of acronyms is the “ERP” term. Admittedly, it’s not a buzzword, but undoubtfully a pivotal point where software engineering is concerned.
What ERP stands for is carved in stone: Enterprise Resource Planning. But what does it mean, exactly?
According to Deloitte Consulting, ERP is a packaged business software system that allows a company to “automate and integrate the majority of its business processes, share common data and practices across the enterprise, produce and access information in a Real-Time Environment.“
Long story short: ERP brings order and efficiency out of data chaos in financial management, logistics, project reporting, analysis, payroll, and HR. It applies to any business type and size.
So, when does a company need
an ERP system?
It does not matter if many growing businesses need an enterprise resource planning solution, but when. As a company grows, so does its amount of data generated—and data sources to track. Managing all that information across multiple platforms becomes costly, time-consuming, and prone to mismanagement.
These are the main telltale signs that call for ERP application.
How can an ERP system help companies?
The most significant advantage lies in real-time capabilities, meaning the ability to see what is happening within the organisation.
But there are further advantages that a business can gain from ERP installation; some are direct:
- efficiency improvements,
- information integration,
- faster response time to customers.
Others are indirect:
- better company image,
- improved customer goodwill,
- employee satisfaction.
Every business or company is peculiar, so although the kinds of data and processes an ERP must handle are similar, no two operations will ever be identical. That’s why it is paramount to collaborate well with the ERP vendor: a company can implement the right ERP system through a preliminary analysis of ongoing technologies, business changes, and capabilities.
That’s a good topic for our next blog post, indeed!
Stay tuned!
