Let's talk ERP
ERP stands for Enterprise Resource Planning and is a term that started out describing software for managing a business’s inventory 30+ years ago and has transformed over the years into describing software that manages multiple areas of a business. Simply put, ERP connects multiple areas of a business together. There are 4 primary ways that ERP software can improve a business.
Consolidate Data and Access
Today businesses generate an enormous amount of data and it can be spread across the company on paper, unconnected applications and in people’s heads. We’ve seen a company have 23 versions of the same pricing sheet in use. Businesses benefit when the right people have the right information at the right time.
Faster Information Sharing
The more information a business works with the slower that information can take to get from one place to another. Delayed or slow information can cause a ripple effect across an organization as decisions have to be put on hold or made with limited data. It’s increasing important to have information move instantly across the organization and not be held up within one department or one person.
Process Controls
ERP software can create more structure and rules around your business processes. Workflow activities can have permission roles, routing, approvals, escalations, alerts, notifications, etc. These rules ensure the process is followed correctly by design and helps prevent bad data from entering the system. Better process controls also gives reporting visibility and metrics that allow optimization and improvement over time.
Advanced Reporting
No more waiting for spreadsheet consolidation. Bring data together from across your business to create new insights and make decisions faster.