ERP stands for Enterprise Resource Planning. It's a software application that helps perform various business-critical functions on-the-go. From gathering, storing, and analyzing information to managing finance, human resources, manufacturing, supply chain, customer relationship management, etc. — it does everything. Enterprise resource planning software employs process re-engineering concepts to implement the best standards and practices in the business. This helps increase revenue, improves employee efficiency, and controls costs.
An enterprise resource planning software breaks information silos and helps facilitate knowledge from one department to another. It also provides real-time information that helps the business monitor functions happening inside the work-premises. The following are some advantages of implementing an ERP system in your business.
Today, ERP systems are proving useful to different types of businesses including for-profit and non-profit organizations, non-manufacturing businesses, and governmental departments. ERP has become an all-round software package as it provides Supply Chain Management (SCM), Customer Relationship Management (CRM) along with modules. The ERP system can be modeled keeping in mind the requirements of the company. For example, if a two-wheeler manufacturing company wants to expand its business by making four-wheelers, it can remodel the ERP system quickly and at a low cost.
Enterprise Resource Planning software provides a 360-degree view of the organization. Essentially, it makes doing business easy. The following are the goals of ERP software in a business.
Implementing an ERP system is a long and complex process. It requires patience and support from all the departments and employees. The following are the steps to implement ERP in your company.