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What is an ERP solution anyway? And, why do you need one?

This blog unpacks the mystery behind the meaning of ERP systems and explains why modern, successful businesses find them essential.

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Navigating the alphabet soup of technology terminology can be challenging. It is filled with acronyms that don’t give much of a hint about what they stand for — much less for what they do. Take the abbreviated term ERP, for example. Even the name Enterprise Resource Planning doesn’t really explain much.

What is an ERP system?

An ERP System is software that supports an array of business functions related to data associated with the daily running of your entire business. It is the central hub that collects, stores, manages, and interprets data from all activities within your business and then uses a shared database to facilitate the flow of that information throughout the organization.

This is important because it means that all your employees are working with the same data and toward the same goals. So, as your team performs their daily functions, the system seamlessly integrates all operational areas, which gives staff access to real-time information that enables them to perform their tasks more efficiently and accurately.

Beyond that, it provides designated management with an overview of the up-to-the-minute status of inventory, sales, and financials. These Key Performance Indicators (KPIs) provide the knowledge your management team needs to proactively make decisions and react quickly to events. 

Streamline business processes

An ERP system can streamline and automate business processes that increase productivity and eliminate redundancy. It allows you to define your business processes to maintain control over how much latitude staff has in relation to important issues like pricing and purchasing.

Our ERP solutions will comprehensively support virtually every area of your business:

  • Stock management
  • Inventory control
  • Purchase order control
  • Sales order processing
  • Pricing
  • EDI
  • General ledger
  • Financial management
  • CRM
  • E-commerce
  • Warehouse management
  • and, so much more!

Our solutions are scalable — they can be customized to meet your company’s specific needs, and they work equally well with multi-national corporations and one-location family businesses at every level of your business. Those features also mean our solutions will easily adapt to changes within your organization, whether it’s adding new users, functions, branches, or divisions, for example.

The hosting of ERP systems has become more flexible as well. Several methods of hosting are now available:

  • On-premises, which requires an investment in specific hardware to power them and IT specialists to maintain them
  • Leasing the hardware for a monthly fee that includes service and maintenance
  • Software-as-a-service (SaaS) or Cloud-based solutions that are hosted and managed by the software vendor 

There are benefits to each type of deployment, which gives you the opportunity to weigh your options and determine the best fit for your operations.

Gain the competitive edge

Implementing a new business management solution is a big decision and a significant investment. So why do you need it?

In a nutshell, it provides the strategic tools and competitive edge you need to maximize margins and profitability. The significant advantages you will experience typically will produce your ROI within just a few years. 

Here are a few of the measurable benefits that will be realized with our comprehensive ERP solutions:

  • Streamlined processes
  • Improved productivity
  • Educated decision making
  • Increased sales
  • Enhanced service
  • Reduced costs 

Ultimately, all of that equates to improved margins, greater profitability and the ability to grow your business.

For those deciding on investing in a new ERP system, it is important to select a software solutions provider that will be your partner when it comes to integration, implementation, and training, and who will be there for the long-term with ongoing dedicated customer support.

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