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Reasons to Invest in an ERP Software for Your Business

Reasons to Invest in an ERP Software for Your Business

Introduction

Enterprise Resource Planning or ERP is a process used by companies to manage and integrate the various important processes of their businesses for improved productivity, increased efficiency, cost reduction and streamlined functioning. An ERP software system helps enterprises integrate planning, purchasing, inventory, sales, marketing, finance, human resources and other departments and processes of their businesses.  

How ERP Software work?

An ERP software helps businesses collect, store and manage data from various units of a business, and eliminating data duplication along the process. Data entry tasks are tedious, repetitive and eat up a major chunk of the working hours of employees. The right kind of ERP software significantly brings down the need for manual data entry. It keeps track of transactions and removes the need for repetitive data entry work which is not only time consuming but also prone to human error. The saved employee time can be fruitfully used in some other important business tasks to improve productivity.

Most importantly, ERP software increases the visibility of the operational data by means of a centralized platform. It greatly contributes to the streamlining of business processes making it easier and efficient for companies to collect data. Further, since it collects shared data of an organization from multiple sources, ERP also guarantees the correctness and integrity of the data.

ERP software mainly offers a collaborative approach within the production facility and allows the department to effectively communicate across the various other departments. An ERP software, thereby, enables maximum efficiency not only within the production department but also across the entire business. Overall, by investing in ERP software, enterprises can improve their business performance and automate some of their vital processes.  

Does your business need ERP?

ERP software, no doubt requires a huge investment. But the benefits far exceed the cost and ultimately, with the help of improved efficiency and productivity, ensure a superb ROI.

An ERP system is useful for all kinds of businesses irrespective of size. Following are some of the signs that your business is on the need of an ERP software

  • Many different software in use across various departments of your business:

For instance, the sales, HR, accounts and warehouse staff use different software to record, track and process information. An ERP system per se integrates the various processes and systems in your company that is otherwise fragmented and unifies them by means of a single ERP software.

  • Access to information regarding your business is not easy and quick:

With many different systems and software in use, unless data is constantly updated across several spreadsheets and manually reconciled, getting information is not easy. In contrast, data retrieval from one centralized system of the ERP software is easy for the staff as well as the management. Quick availability of key data and information can have a positive impact on the growth of the business.

  • Accounting takes forever and is a mammoth task:

Many different software systems in use and repetitive manual entry of data can restrict productivity and increase the difficulties of the accounting staff. Switching over to an ERP software can make them more productive and bring down delays and frustration.

  • Sales and customer experience face a lot of difficulties:

In case your business is treating sales, inventory and customer data as separate entities, then there is a possibility of serious repercussions. Integrating them together by means of an ERP software, allows every department to have access to the same, up-to-date information. It ensures the staff of every department is aware of the true situation and hence they can take the necessary actions and decisions on time which has a positive impact on the business.

  • IT management is complex and time consuming:

With many different software systems in place, IT management is a nightmare and expensive too. Customizing, integrating, maintaining and upgrading them for your business requirements is a regular affair and no small task. ERP software is the one solution to all these issues.            

Top 5 reasons your business needs an ERP software

  • Better Accounting & Improved Productivity: Accounting is an important benchmark for measuring the performance and success of any business. The ERP software, by unifying the different business processes, keeps track of the transactions and thereby makes accounting easier. It brings down the need for repetitive data entry and hence the scope of human error, positively improving employee productivity. 
  • Forecasting: The ERP software unifies data and information available across the business and ensures its authenticity and updated status allowing managers to make better forecasts.
  • Flexibility: ERP software is quite flexible and can be tailored to the unique needs and requirements of a business. It also easily adapts to the changing and growing needs of a business with time.
  • Collaboration: Availability of centralised and consistent data across departments of an organisation promotes collaboration amongst them that is conducive for business growth and success.
  • Mobility: Access to centralised database allows much more working flexibility to the employees. In case their job profile permits, they are no longer restricted to the office premises and can work from the location of their choice.  

Conclusion

With improved efficiency, productivity, security and cost savings, ERP software is one of the best investment for any business. In case you are looking to migrate to an ERP system, you can bank on Swift IT for the ERP software. Get in touch with our experts for a free consultation to decide on the future course of action for your ERP software requirements.

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