Enterprise Resource Planning (ERP) software is an all-in-one system to manage daily processes and data for a business. It serves many purposes and can be used company-wide by every department from accounting and human resources to maintenance. The key feature of ERP software is that it streamlines the data you typically manage with several different papers, spreadsheets, and softwares into one consolidated software. Furthermore, this enables companies to detect problems sooner, gather more accurate insights, and grow and improve faster.
What Does Enterprise Resource Planning Software Do?
ERP software is a robust system that can help you with:
- Marketing and sales
- Project management
- Human resources
- Customer relationship management
- Supply chain and inventory management
- General asset maintenance and management
- Financial management, including accounting and invoicing.
Additionally, you can configure most ERP software to your specific needs.
How Does ERP Software Help You?
There are several benefits of ERP software. However, the biggest one for many businesses is the elimination of silos. Silos happen as a business develops and you create systems to handle various processes. When you’re just starting out, a paper or spreadsheet-based process may be fine. But, bigger businesses become buried in paperwork and look to software for a solution.
There is often not a lot of collaboration when choosing software, so the accounting department has its own. The maintenance department has a separate software. Project managers have their own software, and so on. None of the departments share the same software, so their data is siloed from the rest of the company. This is an inefficient system because accounting has to track down project or maintenance details for invoices, which would require them to go in and out of three different systems. The elimination of silos saves time and improves data accuracy and communication across all departments.
What Are the Different Kinds of ERP Software?
We’ll start with the one that you most likely don’t want, an on-premise ERP. This means that the entire system, including all the servers and backups, is hosted at your location. When high-speed internet was rare, on-premise software was the primary option because you don’t need fast internet to sync your data if the server is right in your office. However, technology has advanced, and ERP software has too.
Now, you can find very efficient and more cost-effective cloud-based ERP software. This means that your data syncs to a server based in the cloud. It is a flexible system that enables you to access your data across all of your computers and mobile devices, any time and anywhere. Furthermore, ERP software is available from SaaS (Software as a Service) providers. SaaS takes the pressure off of you, as the provider handles all software upgrades, data storage and management, and security. Also, you can find generalist ERP software that offers a high level of configuration or customization. These solutions allow customers to adapt the software to their specific industry and needs.
Software to Consolidate Your Data and Streamline Your Business
As your business grows, the amount of data you have to manage on the backend grows as well. If you are struggling to manage daily operations or your teams need to communicate their data better, then ERP software could be your solution. ERP software simplifies that process for you and your team. A cloud-based ERP from a SaaS provider is the best fit for most companies. Also, moving from paper or spreadsheet-based processes brings the benefit of eliminating duplicate data entry, automating processes and notifications, and auto-populated reporting. Overall, ERP software helps you reduce costs long-term, increase productivity, and boost efficiency across all departments.