The majority of businesses already have a financial and operational system in place, but most other software isn’t designed to support future business developments or go beyond standard corporate operations. As businesses grow and evolve, it is imperative that systems should adapt along with it, and that is where enterprise resource planning (ERP) systems come in.
You might have heard of the term “ERP” at some point, but what does it mean? In this article, we go over everything you need to know about enterprise resource planning systems and the benefits it can bring to your company.
What is an ERP system?
An enterprise resource planning (ERP) system is a business process management system that offers internal controls and insights, gathers data from various departments, manages and automates business processes.
Once data has been collected in that centralised database, employees will be able view all of them at a glance. This accurate and real-time data will allow businesses to analyse numerous situations, make sound business decisions, and produce significant efficiency benefits.
Simply put, an ERP system brings together various processes together in one fluid system.
Why do you need an ERP system?
An ERP system may keep track of a lot of moving pieces in your business, so it often needs plenty of customisation and ongoing administration to keep the data current. However, once it’s completely integrated and your company is employing all its capabilities, you’ll have the insight, acceleration, and agility you need to begin improving your operations.
If you are still on the fence on whether you need an ERP system, here are some of its many benefits for businesses:
1. Increased efficiency and productivity
It is no secret that ERP systems are able to automate tedious tasks and free up your team members’ time to do more thoughtful work that value-adds to your organisation. Some examples of the processes that ERP systems can help automate include data entry, the generation of financial reports, inventory tracking and more.
Moreover, ERP systems give managers and other corporate stakeholders quick access to important data. Through the dashboard, decision-makers can keep an eye on important performance indicators throughout the whole organisation. Real-time generation of all necessary data is possible, and employees are more productive since they spend less time looking for information.
2. Scalability benefits
ERP systems may be altered to match the particular requirements of your company. What’s more, they can be modified over time to meet evolving demands. If your firm expands or shifts its focus in a few years, there isn’t a need to start from square one all over again with a new system. Instead, the flexibility and scalability of an ERP system will come in handy and reduce costs of getting an entire new system altogether.
3. Reduced costs
An ERP system may assist to reduce costs and boost profitability across all divisions of your company, from manufacturing to finance, through improved business efficiency and its scalability benefits.
The act of just consolidating your IT systems into one centralised system typically results in cost savings as you would be spending less on the operational and maintenance costs of multiple systems.
4. Easier reporting, planning and better analytics
With an ERP system, you would have a single unified reporting system for your business. This means that accurate, real-time data may be created and disseminated with ease, anytime. Interdepartmental databases can also be tailored to integrate information for convenient access.
Employees have the ability to generate reports, identify issues, and present immediate solutions to problems. Making smarter decisions more quickly is made possible for you and your team by having instant access to these data at a glance.
Now that you have learnt a little more about what ERP systems are and the benefits it may bring to your business, it is time to engage a custom app developer in Singapore like PROTEUS-DT.
We are a company that specialised in start-up mobile app development in Singapore using no-code technology. Through our discovery meetings, we aim to better understand your company’s needs and collaborate with you to meet and exceed your expectations with our viable solutions. Additionally, we are an established UX research agency in Singapore that provides a holistic approach to building your start-up from the ground up.
Get in touch with us today and let us help you take your business to greater heights.