A business is basically an amalgam of various discrete processes, all targeted to a specific goal. Enterprise Resource Planning (ERP) has been defined as a business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back-office functions related to technology, services and human resources. ERP software integrates all facets of an operation — including product planning, development, manufacturing, sales and marketing — in a single database, application and user interface (Webopedia, 2017).
ERP simply helps small to large scale companies to better manage their business process in an effective and efficient manner. The ERP software therefore usually coming with different modules representing different units of a typical company. Some of the most common modules includes: Sales, Customer Service, Human Resource, Procurement, Manufacturing, Accounting and Distribution. (Webopedia, 2017).
According to Workwise report 2017, deploying an ERP solution adds a lot of value to a company. The prominent ones are:
- Company Efficiency – Implementing an ERP system removes repetitive processes and significantly reduces the need to manually enter information. Greatly reduces needs for paper documentation. It streamlines the business processes, makes it easier for companies to collect and store data efficiently.
- Integrated Information – as opposed to having data scattered throughout several separate databases, data is now kept consistent and up-to-date at a single location.
- Reporting – ERP software makes reporting easier and customizable. Users can easily generate their own reports without having to reach out to the IT unit. The company is equally able to respond to complex data requests more speedily. Management can see and respond to issues faster.
- Enhanced Customer Service – ERP system makes it easier to provide high-quality customer service. Since the system has customer’s accurate information including transaction and ticket history, Sales and customer service people can interact with customers better. This helps improve relationships with customers.
Data Security – An ERP system will improve the accuracy, consistency and security of data. User rights can be restricted within the organization to prevents unauthorized persons from accessing certain information.