‘Life is really simple but we insist on making it complicated’ – Confucius
For those of you who have stumbled upon this page in a desperate attempt to get your head around yet another confusing technical acronym – ERP or even less enlightening, Enterprise Resource Planning, is simply a centralised software solution.
Imagine the ability to combine all your data and processes into a single system, which can be shared, accessed and updated in real time allowing, among other benefits, unified data, streamlined information flow and custom reporting.
So as an SME, you may be asking yourself how implementing ERP software can benefit your business and impact on your bottom line.
Any discussion as to the effectiveness of ERP software needs to first clarify the power of integrating business processes.
Business Intelligence Reporting – harnessing the power
Traditional software reporting has always been limited by the fact that it is department specific. As an example of this, accounting software may have the ability to report on payroll, accounts, invoicing and sales whereas ERP software increases functionality to include other departmental data such as:
- Supply chain management
- Human resources
- Project management
Possessing the ability to coordinate and manage all this data through a single system creates a comprehensive, functional package. To put it simply – you get the big picture.
The beauty of BI reporting software is the ability to ‘at a glance’ interpret all critical business data which has been funneled from other sources into a single, clear interface which can be accessed anytime, anywhere and on any device.
Reporting software can provide immediate and valuable insights into your business.
Speeding up processes
Imagine implementing a system which speeds up order to delivery times for customers by 23%. By centralising your inventory, sales, ordering, purchasing and delivery data, into a single location, you provide staff and customers with real time information regarding stock levels and order progression which improves client relationships and impacts on the B2C experience.
This data can then be accessed and maintained by staff in multiple departments, through a common, shared platform which enables a cohesive and collaborative workflow.
Centralised staffing solutions
Another benefit of ERP software involves managing staff information and movements. By integrating a solutions which covers:
- Employee cost management
The beauty of this integrated system is that you are furnished with a higher level of accuracy which is less labour intensive than traditional rostering and HR platforms.
An example of such an all encompassing solution is MYOB Greentree which combines among other things:
- Finance management
- Asset management
- HR & Payroll control
- Business Intelligence
This multi-level solution equips businesses with the most powerful integrated internal and external platform to leverage their business from.
Modulation – growing with your needs
Another attraction of ERP software is the ability to customise, tailor and expand its options as their business grows and changes. An ERP solution can be likened to separate modules which work synergistically – the whole being greater than the parts.
The use of ERP software for businesses is not a new concept.
There has been a steady acceptance by businesses who are recognising the fact that traditional stand alone software is not keeping up with their requirements and most are adopting and adapting ERP software into their businesses.
Furnishing your staff with a comprehensive centralised system with the power to function interactively and synergistically between packages can drive your business forward and impact positively on your bottom line.
The post Competitive Considerations: An Introduction to the Effectiveness of ERP Software appeared first on Home Business Magazine.