In modern times, day-to-day business operations are mediated by software solutions to streamline a myriad of processes in many departments, including finance, marketing, operations, sales, human resources, purchase, general management etc. Enterprise resource planning (ERP) is the main software solution that integrates the multitude of these operations into a scalable, modular and robust system to enhance a business’s productivity, sustenance and profit inside out. This solution is used by forward-thinking companies in many industries, including:
- Digital Media
- Education
- Energy
- F & B
- Fashion
- Financial services
- Governmental
- Health care services
- Hospitality and Travel
- IT services
- Logistics
- Manufacturing
- Nonprofit
- Oil and Gas
- Professional services
- Retail
- Utility
This article investigates how ERP software facilitates a business’s collaboration, interconnectivity, and updatedness using its customised applications suite and why businesses- large and SME- have to rely on its features eventually.
ERP Explained in Simple Words
In essence, ERP is like the nervous system of an organisation’s data. It centralises all information of the organisation from every nook and corner and forms a single source of truth to understand anything about a business. The integrated information system of the ERP systems helps you to know where you are at in your journey towards success, how much profit you make, are your workforces utilised optimally and many other questions. By amalgamating information, it simplifies business processes to be easily understood. The fact-based knowledge generated by this software suite guides the main decision-makers of the organisations to make faster decisions.
The main reason why every business- no matter the size or type of firm- relies on ERP software is because it allows the company to free up the time spent by employees who perform in conventional business frames. Using the ERP, employees can save time, corporate resources and effort in performing instinctual tasks rather than mundanely sticking to one task. In doing so, this solution can help businesses figure out ways to save resources but increase the quality of production, productivity and profit singularly; do more with less.
How Can ERP Increase The Interconnectivity of Your Organisation?
The ERP systems use module APIs to integrate different software systems into one big system. It helps the users to use microservices to build custom-built applications to streamline every operation of the business. This gives the user countless capabilities to interconnect different data sources to reveal hidden data patterns and trends that will help data analysts to address what the business lacks and how to achieve what the business needs.
The ERP’s synchronisation capability is top-notch. It integrated various data sources including databases, mainframes, applications, websites, RDMS, data lakes, cloud drives, data warehouses and plenty of components of any IT infrastructure to one another. The aftereffect of this interconnectivity is the unified view that grants to gain insights based on historical data and real-time information.
Why is Having Better Coordination Through ERP So Important?
The integrative capacities of ERP software are unmatched, but why is it so important? For a pragmatic example, imagine a sales representative of your business wants to contact the marketing manager of your company to build a brochure for a product urgently. Instead of meeting the manager in person or calling him and stressing him out, the ERP allows the sales representative to view the tasks of the marketing department. He can connect with an agent through the communication portal and send a detailed request to a marketing team. The team can simply do the tasks while the sales representative can track the status of the job through his phone, tap or laptop. Once the task is done, the marketing team can automatically send the work to the sales representative and automatically send a copy to his email address as well.
This process would have taken a few days or sometimes a week with the conventional manner of business operations. Employees of the sales and marketing team will be overloaded with paperwork and confused in planning and prioritising their work based on the urgency of the work order.
Gain An Eagle Eye’s View Through An Optimised ERP Software
ERP systems are no longer a good-to-have technology for almost every business, it has become a stakes for making lucrative and resourceful decisions in the company. By using an ERP a person can have a comprehensive knowledge about the potential of employees, prosperity of the business and the sustenance of the business in future markets. It is the core of buildings and optimising business processes to help organisations achieve their goals and more using actionable insights generated by business data.
By accessing data from anywhere in the world and making decisions at the same time data is being generated your business too can gain the ultimate coordination in all departments by utilising ERP.
