Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources.

ERP software typically integrates all facets of an operation — including product planning, development, manufacturing, sales and marketing  in a single database, application and user interface.

ERP is an Enterprise Application

ERP software is considered to be a type of enterprise application, that is software designed to be used by larger businesses and often requires dedicated teams to customize and analyze the data and to handle upgrades and deployment. In contrast, Small business ERP applications are lightweight business management software solutions, often customized for a specific business industry or vertical.

Importance of having an ERP system

There are many advantages to implementing an Enterprise Resource Planning (ERP) software solution. Among countless other advantages, implementing ERP software can improve productivity, increase efficiencies, decrease costs and streamline processes. Let’s look at 15 of the most common benefits of an ERP system that companies have reported after implementation.

Competition

It’s true that ERP software requires a major investment, but there’s also an even bigger cost in not making the investment. While some manufacturers choose to stick to the tried and true methods of the past, others seek technology solutions.  Manufacturers cannot afford to put off an ERP implementation while their competition invests in ERP and starts reaping the many benefits we’ll touch on below.

Efficiency

An ERP solution eliminates repetitive processes and greatly reduces the need to manually enter information. The system will also streamline business processes and make it easier and more efficient for companies to collect data, no matter what department they’re working in.

Forecasting

Enterprise resource planning software gives your users, and especially managers, the tools they need to create more accurate forecasts. Since the information within ERP is as accurate as possible, businesses can make realistic estimates and more effective forecasts.

Collaboration

Nobody wants to run a siloed business with each department functioning separate from the other. Collaboration between departments is a crucial and often necessary part of the business. With the data entered into ERP systems being centralized and consistent, there’s no reason why departments can’t work together. The software also touches on almost every aspect of a business, thus naturally encouraging collaborative, interdepartmental efforts.

Scalability

Did you know? Structured ERP systems allow the addition of new users and functions to grow the initially implemented solution over time. When your business is ready to grow or needs more resources, enterprise resource planning software should be able to facilitate that growth.

Integrated Information 

No more issues with data spread across separate databases; all information will be housed in a single location. This means you can integrate platforms like your CRM software with the ERP system, keeping data consistent, accurate, and unique. Know your customer, their orders, and your inventory, all in one place.

Cost Savings

With one source of accurate, real-time information, ERP software reduces administrative and operations costs. It allows manufacturers to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. If you’ve chosen the right solution for your business, and the right vendor who meets your needs, you’re bound to see a powerful ROI.

Streamlined Processes

As manufacturers grow, their operations become more and more complex. Manufacturing software automates business operations cross-departmentally, providing accurate, real-time information to everyone utilizing the solution. ERP increases efficiency and productivity by helping users navigate complex processes, preventing data re-entry, and improving functions such as production, order completion and delivery. Streamlined, efficient processes throughout.

Mobility

An advantage of ERP solutions like WorkWise ERP software is having access to a centralized database from anywhere you work. Home, office, wherever, through our mobile-friendly solution and application.

Reporting

ERP software helps make reporting easier and more customizable. With improved reporting capabilities, your company can respond to complex data requests more easily. Users can also run their own reports without relying on help from IT, saving your users time to use toward other projects.

Productivity

Save time and increase productivity levels. Sound too good to be true? It’s not with ERP software. By having redundant processes automated, users have more time to work on other pressing projects and tasks. They’ll also be able to work easier since the solution was designed for ease-of-use.

Regulatory Compliance

A benefit of ERP software which sometimes goes unnoticed is how it ties well into regulatory compliance in the manufacturing industry. Powerful ERP solutions will keep track of regulations within the industry and monitor changes in compliance.

Flexibility

Modern ERP software systems are robust, flexible, and configurable. They are not a one-size-fits-all proposition but can be tailored to the unique needs of a business. ERP systems also can adapt to the ever-changing needs of a growing business, ensuring you won’t have to buy a new solution once your needs change or your business grows.

Customer Service

It’s easier to provide high-quality customer service using an enterprise solution, especially when you’re using one as well-equipped as WorkWise ERP. Sales and customer service people can interact with customers better and improve relationships with them through faster, more accurate access to customers’ information and history. You’ll also have access to marketing automation and contact center software, ensuring your customers are being interacted with consistently.

Security

Data security isn’t a worry when you have an enterprise resource planning solution in place. A new system will improve the accuracy, consistency, and security of data, all through built-in resources and firewalls. Restrictions to data can also be enhanced by managers of the solution, so you can make your own software as secure as you’d like.

Frequently asked questions

What is meant by ERP System?

Enterprise resource planning (ERP) is a process by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources.

What is an ERP and how does it work?

This is called Enterprise Resource Planning, or ERP. Normally ERP systems use the same database throughout an entire company to store various types of data for different computerized functions. When first developed, ERP systems were used only for large manufacturing companies.

What does an ERP System do?

Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources.

Why Have an ERP System?

Productivity. ERP systems increase productivity. Because an ERP systemintegrates data and processes across multiple departments and locations, it allows a company to move product faster, process orders quicker, invoice customers more rapidly and reconcile shipments sooner.

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