Wednesday, Aug 21 2019

Everything You Need to Know About ERP

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Everything you Need to Know about ERP

 

Every company has to handle certain functions. Managing people, buying products or services, selling offerings, and accounting are all fundamental activities that are a part of business, regardless of the industry. Often, having the ability to manage these processes through a single software platform is ideal. Enterprise Resource Management (ERP) solutions are systems that can handle all of those tasks and more.

With ERPs were first created for manufacturing companies, these solutions have since branched out into other industries, including everything from financial services to hospitality to government. While each of those industries is unique and has its own set of needs, an ERP has the ability to offer a streamlined, comprehensive experience.

ERPs and Business Process Centralization

Most ERPs can standardize, streamline, and integrate a range of business process. This includes human resources, finance, distribution, procurement, and a variety of other departments’ functions. Usually, ERP solutions rely on an integrated software platform, operating with a single database and using common definitions.

 

What an ERP Can Be Used for

While ERP solutions can be highly unique and incredibly tailored, most offer certain capabilities. Financial information can be integrated across key departments, like sales and finance, centralizing this critical data. Similarly, an ERP can maintain procurement data, making purchase tracking easier to manage.

Order integration is also a common feature. It combines manufacturing, inventory, distribution, and related accounting functions. By using a single system instead of multiples, errors can be reduced, and efficiency is increased.

Many ERPs also include Customer Relationship Management (CRM) tools. These track customer-related data and interactions. For example, details about orders, deliveries, returns, customer service requests, and similar information is all in one location. This allows the system to provide insights into customer needs and behavior.

Internally, human resources information can also be standardized across all business units. This can be ideal for tracking employees’ hours, worker expenses, and even pay and benefits administration. If a self-service portal is included in the ERP, employees can even update certain personal details. Additionally, HR can use the database to match current and former employees to new opportunities.

For industries that must file reports with the government, an ERP can streamline this process as well. It can collect data across multiple functional areas and combine it to ensure all of the details are included automatically.

 

The Benefits of ERP

An ERP solution can benefit a company in several ways. First and foremost, you gain a level of efficiency that can’t exist in a multi-system paradigm. Additionally, data sharing can promote better decision-making, ensuring everyone who needs access to certain information has it at all times. Plus, the data is collected and shared in real-time (or near real-time), allowing employees to have details about the current state of the business.

ERPs also provide increased agility through simplification. Additionally, many companies experience enhanced security since only one primary database needs to be secured.

 

Choose The Armada Group as Your IT Staffing Agent!

Ultimately, an ERP can be a great addition to nearly every company. If you’d like to learn more about these solutions, the team at The Armada Group can help. Contact us to speak with one of our ERP specialists today and see how our expertise can benefit you.