Enterprise Resource Planning (ERP) is a software system used by organizations to manage and integrate various aspects of business processes. ERP provides a centralized platform that enables companies to streamline their operations, automate tasks, and improve overall efficiency.
There are many benefits to utilizing ERP, and here we spell it out for you:
Enhanced Efficiency and Cost Savings.
By streamlining processes and eliminating manual work, ERP systems improve operational efficiency and reduce costs. They eliminate redundant tasks, optimize resource allocation, and provide insights into areas for improvement.
Robust Data Analytics, Reporting, Scalability, and Flexibility.
ERP systems offer robust reporting and analytics capabilities. They generate real-time reports, dashboards, and key performance indicators (KPIs) to monitor business performance, track trends, and identify areas that require attention. ERP systems are designed to accommodate the needs of growing organizations. They can scale up to handle increased data volumes, users, and transactional loads. Additionally, they often offer customization options to adapt to specific business requirements.
Process Automation.
ERP automates routine and repetitive tasks, reducing manual effort and increasing productivity. The system can automate processes such as order management, inventory control, procurement, invoicing, payroll, and financial reporting.
… Let’s Not Forget Decision-Making
ERP systems store all relevant data in a single, unified database, eliminating data duplication and ensuring data consistency across the organization. This allows employees to access accurate and up-to-date information, enabling better decision-making.
And who does not want better decision-making within their organization?
The Data Showcases the Benefits
– ERP reduces operational costs by 23% and administrative costs by 22%, and increases on-time deliveries by 24%.
– 95% of businesses achieve major improvements after using ERP, through reducing process times, increasing collaboration, and centralizing enterprise data.
From the data shared by Oracle and Aberdeen Groups
Size Doesn’t Matter
Think your business isn’t big enough for an ERP? Think again. No company is ever too small to benefit from utilizing an ERP system. And yes, there are times that ERP systems are knocked for being complicated and expensive which prolongs the misunderstanding that ERPs are geared toward larger companies. The truth, however, is there are many packages available that cater to small businesses, and these have a very attractive payback.
Our Takeaway
Companies focus on ERP integration for many reasons, ranging from replacing outdated legacy systems, to improving their processes and productivity and gaining functionality and efficiency. Another top reason companies make it a priority to effectively implement an ERP is to support business growth.
Always remember that choosing, implementing, and maintaining an ERP system can potentially be complex and requires careful planning and consideration before making that leap, so it is essential that you partner with an organization that has deep experience with ERPs to ensure your success.
The Empirical team is well-versed in the ins and outs of ERPs as we have years of experience successfully working with companies implementing ERPs within their organizations. We would love to answer all your questions and help guide you when you are ready to help ensure your decision is the right one and your process is streamlined.
Connect with Empirical’s Traci Imel and reach us via email at hello@thinkempirical.com, or give us a call (610) 994-1139.
