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ERP Software – Understanding Enterprise Resource Planning

ERP Software – Understanding Enterprise Resource Planning

ERP software combines a host of vital functional programs into one accessible software suite for your business. ERP software supports the integration of core business functions including distribution scheduling, accounting operations, HR management and payroll processing. By integrating all business data into one source, ERP software streamlines the processes of businesses with complex operations. This advanced software is therefore essential for any business seeking to improve the efficacy of their core processes.

The Beginning

ERP software was first developed in the 1960s and described the concept of integrating control and inventory management of businesses within the manufacturing industry. Since then, ERP software has expanded to remain relevant and functional across all core business processes. For this reason, ERP software is constantly evolving to encompass all vital functions for business owners. Today this has expanded to include front-office functions, marketing automation and business intelligence.

Key features

Just some of the key features of modern ERP software include:

Financial Management: One of the most significant benefits of ERP software is that it provides real-time data in relation to all elements of your business. This data is then compiled, interpreted and stored into one location. This enables you to determine how all of the pieces of the puzzle are working together, and efficiently manage a business with multiple operations.

ERP software provides accurate data and information in relation to your inventory, sales, employee performance and prospective clients. This enables you to produce accurate financial and business performance reports in mere seconds.

Payroll Processing: ERP software comes complete with a fully integrated payroll system. The advanced technology connects your employee database and timesheets to provide an accurate payroll system. The system is further streamlined through integration with your accounts and financial reports. When you make employee payments the system automatically updates your expense reports and other financial data, saving you time on completing these time-consuming manual processes.

Customer Relationship Management (CRM): ERP software contains an advanced CRM platform, designed to streamline your interactions with potential and current customers. The CRM platform is programmed to easily integrate with your sales, marketing, billing and servicing programs. This ensures that all relevant information is recorded and available across all platforms and different teams.

Supply Chain and Distribution: ERP software provides your business with the data and tools required to complete the customer service cycle from request to delivery. As your business grows, the challenges of accurately forecasting supply and demand, and delivering in accordance with your customers’ expectations have increased. ERP software streamlines the sales order process and provides you with a live-updated and accurate picture of your products and orders across every step of the supply and distribution process.

Business Process Mapping: One of the most difficult aspects of running a business with multiple parts, is being able to accurately review your business processes as a whole. ERP software provides businesses with a live and accurate map of their business processes, demonstrating how they intersect and function together. This enables management to identify gaps in the chain and the areas for improvement in the efficacy of vital processes.

ERP software is one of the most critical tools for any modern business. When there are multiple small moving parts within a big business, ERP software provides the tools to see the bigger picture. To understand how each process and function can complement each other and move together. ERP software provides your organisation with the tools required to have even the largest of businesses running like a well-oiled machine.

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