Time is money in business. With this in mind, any platform that can make a business run more efficiently and effectively is worth its weight in gold. ERP (Enterprise Resource Planning) is such a platform that can be a game changer for any business.
In today’s day and age, businesses must do more with less, and ERP is a valuable item in the business toolkit that can allow any organization to save time, money, and create synergy among its many moving parts. Businesses focused on financial and manufacturing are some of the many companies that can benefit greatly from an ERP implementation.
In 2017, ERP News listed Information Integration, Standardization, and Automation as the benefits of ERP implementation.
Information Integration
Think of the amount and various types of information that your company processes every day. ERP allows this data to be pulled together from multiple sources for a more streamlined collection which can save time and money. In many cases, pulling data together from across the company can help provide insights. These insights enable efficiencies in supply and cost management. It can also ensure that a company’s working capital is saved for where it is needed the most.
Standardization
ERP ensures that the information collected from various departments meets minimum reporting standards. This allows for better integration using compatible and complementary formats. With a standard format, data can be more easily collected and synthesized allowing for faster, more robust analytics driving key business insights.
Automation
Day to day administrative tasks can be a big headache and a massive time sink for employees. ERP can be utilized to automate simple tasks such as collection and data conversion. This frees up time that employees can use to focus on more strategic thinking. ERP can also be used to automatically validate existing data such as customer contact and billing information. Thus, shortening the time between delivery and payment by eliminating errors or typos.
Is ERP for you?
Before introducing ERP into an organization, it should do an internal assessment to discover what their individual needs are and what processes it can help with. When in doubt, it’s best to consult a professional solutions provider to aid in your organization’s design and creation of a new ERP solution to ensure you make the best investment for your business and your employees. They will also be able to tailor a training plan that will best prepare your organization for a successful implementation.