WHAT IS ERP & WHY IS IT IMPORTANT?

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22 June 2021

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THE ENTERPRISE RESOURCE PLANNING SOFTWARE (ERP) MARKET IS NOW WORTH £29.52 BILLION.

The impact that these systems are having on business is clear, yet what this system is and does, isn’t quite as transparent.

If you have never used an ERP system, it's easy to underestimate its usefulness to your business. Plus, with advancements in various software for businesses, it can be difficult to navigate what tools can enhance your company.

For many operations, ERP offers that enhancement. Enterprise Resource Planning Software is designed to manage a number of business functions. So far, so simple. But why is this any better than other solutions?

EASIER ANALYTICS

One unique feature that ERP’s offer is having one central database of information. This improves your analytics and reporting. 

An ERP records and stores all the data users input, it makes for an excellent business intelligence tool. In order for your team to generate data and reports, which could take days for research, ERP software offers this data in minutes. 

From KPIs to expense statements and custom reports, ERP allows you to set access levels so only relevant staff see relevant data. This allows your team to work efficiently whilst reviewing real-time analytics.

HIGHER PRODUCTIVITY

Automation is a key benefit from ERP’s. Instead of employees manually entering data, their time can be spent on more thoughtful work as your ERP is designed to process large quantities of data for you. 

This increases your ROI as the more mundane elements of your business are handled by software, so your organisation's productivity and profitability can increase.

SIMPLE COMPLIANCE

Globalisation can bring multiple different hoops for your business to jump through. It isn't always easy to keep track of the different regulations imposed on your business. Even smaller, local companies need to be aware of relevant information security and human resources regulations.

Many ERP’s offer built-in auditing tools to help you maintain compliance with all relevant regulations. Keeping all governing bodies happy is easy when you can simply document tax provisions, or GDPR compliance reports, which can all be generated from your ERP. 

Overall, whilst ERP’s come at an initial cost, it provides a greater return on investment. Its inbuilt unique solutions allow you to mould this software to fit your business needs.

If you would like to discuss your business needs and what solution would suit you, get in touch at https://www.on-it.tech/.