An ERP system is a set of web softwares that allow a company to perform a multitude of tasks related to its management and accounting.
If you have just started your research on business intelligence applications, you may be overwhelmed by the sheer amount of information and acronyms employed. Customer Relations Management (CRM), Enterprise Resource Planning (ERP), Production Line Management (PLM), human resources management, logistics and procurement, and so on and so forth. Where do you start? What will produce the best results within the shortest timeframe? What is the current trend in this technology? These are all questions that may be going through your head. The main fact to take into account is that currently, the best practices in business intelligence applications are included in the cutting edge Enterprise Resource Planning, or ERP software, which forms the focus of our discussion here.
What is an ERP system?
Let us preempt an important question - ERP does not simply replace CRM or any other type of business intelligence systems you have heard about before. Instead, a cutting edge ERP system incorporates the best approaches to various components of BI that used to be separate and incompatible. Enterprise Resource Planning (ERP) includes budgeting, human resources, procurement, production, marketing, sales, governance and many other areas of interest in one easy to use and secure system. A correctly developed and implemented ERP system makes other business intelligence software redundant and obsolete.
What are some benefits of an ERP system?
Essentially, an ERP software eliminates the need for multiple others. Especially when custom built for your company or organization, the ERP system will take into account the specific needs, requirements and processes that make your team unique. It will allow you to save time and resources on integrating disparate systems and approaches used in various departments in their data collection, reporting and analysis.
Due to the simplification of data processing, the data is presented live throughout the organization, thus allowing for quicker decisions made based on more accurate and complete information. Data security, collaboration, timeframes, scheduling, resource management can all be improved dramatically through correct and uniform application of your ERP system.
Are there downsides to an ERP system?
Depending on how well customized your ERP software is in the first place, you may run into some questions. Extensive training may be required in the early stages of adoption and with new hires. Mergers and acquisitions would make it necessary to merge or adapt to new ERP systems, which can be time consuming and costly.
Importantly, as comprehensive ERP software is only coming to the fore in recent years, much is being done by developers to address these drawbacks - many of them would not apply to your case if you start with a brand new fully customized ERP system.
Our friendly and knowledgeable team at Thoransoft would be happy to discuss the ways we can help you with your ERP needs - contact us today for a consultation!