What is ERP and What are its Benefits?

by Jul 26, 2019Knowledge Center

What strikes you when you think of a company? Different departments, sections and wings strike to most people.

On a further note, you would be able to add different processes, procedures and identify few main wings of a company like procurement, finance, production, supply, service, administration, HR, etc.

It is well known that the efficient functioning of these core process is the essence for the success of any company.


What is ERP?

Enterprise Resource Planning or ERP is a system which integrates all the core processes like procurement, finances, human resources, accounting, management and customer relationship management and many others into a single unit.

ERP is a software suite which companies use to manage variety of activities of business including the procurement, production, management, finance, accounts, etc., on every day basis.

A modern ERP suite also includes the performance management and other software which will help to plan, manage, prepare reports and detailed analytics.

ERP System enables to bring together different processes, ensures the smooth flow of data across the systems.

ERP also establishes a single data view for all systems by collecting and processing the data besides eliminating duplicates and ensuring the data accuracy and authenticity. The data is easily retrievable for all the systems.

In fact, nowadays ERP is essential to start and run a business, whether it is small or big. ERP is being used by many businesses to run the operations successfully.


Benefits of ERP

Increased Productivity

An ERP ensures smooth workflows, timely sharing the required data across the systems and optimal utilization of resources leading to significant more production with the same resources.

Improved Efficiency

ERP system streamlines the business processes across departments and reduces the redundancy with automation leads to improvement in the efficiency.

Faster Growth

Alongside better productivity and efficiency, an ERP increases the agility of the sales process, decreases the response time and ensures faster growth.

Be competent always

Since most of the businesses use ERP, if you still stick to old ways running on organization, you’re at a serious disadvantage. Compete with the rivals by being on the same high pedestal with an ERP.

Precise Forecasting

An Enterprise Resource Planning system brings you and your agents all the required tools to forecast accurately and to plan for the approaching cycle well in advance so that you can make most of the circumstances instead of being held back.

Easy to scale

The best thing about an ERP is its flexibility to scale from the initially implemented one. You can add new users and departments as required. As you grow, you can expand with easy scaling than to invest in an ERP yet again.

Cost Savings

ERP software reduces the costs on a variety of operations and administration. It helps to prevent potential disruption well in advance, alerts about the possible breakups facilitating the advance decision making to safeguard and to save costs.

Customer Service

ERP facilitates best customer service possible to leave customers content. Particularly, departments like sales and marketing can track customer information and interaction history easily to serve the customer better and build lasting relations. Also, you can integrate the marketing automation tools, contact center software into the ERP to build strong customer relations.

Easy Reports & Analytics

ERP software provides for detailed and customized reports as and when needed. Reports can be generated for individuals and departments and delivered right into the Inbox periodically. The comprehensive reports and analytics give insights into the functioning.

Data Reliability

ERP provides for reliable data which is accessible by a variety of devices across the locations. ERP also ensures data accuracy and consistency with its real-time update ability.

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