An ERP – Enterprise Resource Planning software deals with business management functions that are housed within the organization. It takes care of all the back office operations and integrates with mobile devices. The best feature of ERP systems is the fact that it operates in real time and is used as a common go-to platform for almost all applications. ERPs are the next big thing as many roles and responsibilities are being included in the systems from project management to human resources management. ERPs give the most effective solution to perform business processes in a simpler way.
The term ‘ERP’ when googled, gives multiple meanings to a single abbreviation. Understanding that there is a single software platform to keep your business running is overwhelming. From account management, financing, CRM, human resources, inventory and order management, ERP systems integrate everything under one roof and serve them in a plate. Rather than investing in many software solutions for your business, investing in ERP systems makes it a lot easier to understand roles and functionalities and is also easier on your pockets. While ERPs were bought by large scale industries previously, it is now preferred the most by SMBs. With the emergence of Cloud ERP, these systems are fit for businesses large and small. A business can benefit from ERP systems in uncountable ways and we shed some light on the most prominent ones:
1. Real-time data
Wiping out the need for stressful spreadsheets of data and a large storage space that holds data that is no longer useful, ERPs generate real-time data. This enables managers and organizations to take proactive approaches to business problems. Analyzing business processes thoroughly before getting your hands wet is a good approach to using ERP systems.
A more cost-effective way of running a business, is automating processes than employing thousands of employees to do a repetitive task. This leads to more efficiency in calculations and predictions. Since, almost all of the jobs are revolving around automation, ERP systems allows you to produce faster, reliable and fault-free information.
The need to integrate to multiple systems comes with a lot of drawbacks. The ability to store data on Cloud provides 24/7 access to data as well as increased security. ERP software provide solutions based on the size of the business, role and the market conditions.
Cloud ERP Vs. On-Premise ERP
The two main advantages of Cloud ERP involves the flexibility towards the size of the organization and cost reduction with increased data storage. Security is also a matter of debate as On-Premise ERPs installed in an organization’s system may pose future threat. When information is stored in the cloud, it can be accessed anywhere, anytime as opposed to On-Premise ERP. Cloud ERP eliminates the need to maintain large database systems and update them from time to time. Cloud or On-Premise, ERPs are definitely a bonus to your business and analyzing your business processes will keep you on the right track.