Why ERP Systems Are Important
Many businesses, as they grow, ignore the importance of investing in business technology. Business tech includes both hardware and software. Though it may seem like it is something that can be deferred, most businesses hang on to their basic accounting solution or pieced-together solution or legacy systems until their business urgently requires a change.
Enterprise resource planning (ERP) essentially is the core of a business. A fully integrated ERP system allows the seamless flow of information across different departments and functions. ERP covers broad and deep end-to-end processes such as finance, human resources, warehousing, manufacturing, customer relationship, marketing, sales, and more – so you have a comprehensive business management solution.
The benefits of an ERP far outweigh the initial cost and time associated with implementing the solution in the first place.
ERP solutions unifies fragmented systems in your organisation. An organisation utilising stand-alone systems such as Customer Relationship Management (CRM), Supply Chain Management (SCM), Warehouse Management, Logistic Management, or Human Resources Management (HRM) solutions can benefit from the ability of ERP to unify it together. Having a seamless flow of information across these different systems will provide companies with cost-efficiency and data accuracy benefits. Users can save time by eliminating the need to do redundant data entry and human error can also be minimised.
Having an ERP solution also provides improved collaboration between departments and team members. All information is in one central location, and the appropriate access can be given to team members who require the data to complete the task. Most business management solutions provide control for access to improve the safety of the data and system. The accuracy, completeness, and security of information can be guaranteed as there will be minimal human errors, and unauthorized access can also be easily blocked.
ERP comes with the ability to query data as you need and generate the necessary reports for your decision-making. Information can be accessed quickly and there is no need to rely on external help to churn out ad-hoc reports. Some ERP systems also come with predictive analytics that comes with guides and suggestions as you use the system.
Time wastage can be eliminated as there is no longer the need to perform the repetitive task manually. This refers to the need to enter the same data multiple times across different systems. With an integrated ERP solution, information can easily flow across different systems and departments. The elimination of repetitive manual work, reduction of error from manual human data entry will ultimately have a positive effect on your organisation’s productivity, efficiency, and profitability.
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SAP Business One is an affordable Enterprise Resource Planning (ERP) software designed for small to midsize businesses. As a business management solution, SAP B1 streamlines business processes, provides real-time information, and help boost overall business performance. The solution covers finance, sales, customer relationship, purchasing, procurement, inventory and manufacturing in one centralised system, enabling accurate and precise information retrieval that assist in reporting, forecasting and analysis.