2021-05-10

What Is ERP? Guide to Enterprise Resource Planning

A key to any successful business is the efficient handling of data and smooth streamlining of all core operations of the company. And the major contributing factor to the growth of your business is the right use of technology. This is where ERP software comes in handy to provide the right enterprise resource planning solutions to meet all your business needs. Read ahead to learn more about ERP and what it can do for your business:

What Is ERP (Enterprise Resource Planning)?

ERP is a kind of software that helps you run your entire business by integrating all major business processes into a single platform. This means the integration of various aspects of your company operations such as purchasing, human resources, inventory, marketing, supply chain, manufacturing, finances, and more! This helps in the effective planning and management of business resources for optimum growth.

Rather than being a single program, ERP is a stack of applications that work together well to effectively manage data as well as ensure a seamless interlinking of all business activities. Besides basic integration, most modern ERP software now also use the latest technologies such as AI (artificial intelligence) and machine learning to efficiently automate business processes in the company.

Benefits of ERP for businesses

  1. Workforce visibility and streamlined operations

    With ERP systems, businesses can consolidate fragmented processes onto one platform to get real-time details of various activities being simultaneously performed at different locations. This allows companies an insight into workflow visibility, streamlining in operations, and efficient scheduling solutions.

  2. Business Intelligence (BI)

    ERP systems enable Business Intelligence (BI)! This means that ERP software consists of efficient tools that handle as well as collect data, run analytics, and provide progress reports. Together, these functions are called Business Intelligence tools. Such data can then be analyzed to make better business decisions as well as easily provide data to company stakeholders to show progress.

  3. Efficient communication across departments

    With this software, multiple departments can effectively communicate and collaborate with each other across different time zones and in multiple languages. This is possible because ERP communication tools record every piece of documentation, phone call recordings, emails, texts, and more.

  4. High data security

    Since all important communication and documentation is on a single platform, with data duplication being impossible - ERP software help keep your sensitive company data safe from fraudulent practices and malware.

How to decide if your business needs ERP?

Following are some situations that may be indicators that your growing business needs the stability of ERP software.

  1. Your business struggles with inefficiencies using different technologies

  2. Software expenses are higher than normal

  3. Your current software is unable to fulfil timely orders or customer demands

  4. Business processes such as doing data entries take up the time of your workforce.

  5. Your business relies heavily on big data, and you’re finding current programs to be insufficient for accurate storage.

If you face any of these challenges in your company - it’s high time to head over to a trusted consulting agency such as ours to upgrade your business processes with ERP. At IDC Technologies, we provide the best ERP solutions that are customizable according to a company’s unique needs. This helps businesses to seamlessly integrate all their operations, enhances productivity, and helps them thrive in the world today.