You’ve heard the business buzzwords and acronyms floating about in the business world. What exactly is ERP software? ERP software (Enterprise Resource Planning) allows a business to use a system of integrated applications to manage the business functions including technology, information services and human resources.
Why do I need an ERP Software solution? What benefits would my business gain with an ERP system? Predicting business performance with critical and reliable information is critical to business strategy and planning.
Functionality of an ERP software should include many features to allow a business to plan and grow. Financial Management is a core function to help a company optimize assets and manage costs. The ability to tailor to a business’s specific needs is critical.
The ability to track shipments and answer customer questions with real-time information are crucial features for an Order Entry System. Being able to easily identify outstanding customer orders and quote orders helps prevent costly errors for a business.
Proper Inventory Control is extremely important to a business’s functionality. Managing inventory with reporting metrics allows measurable benchmarks for determining demand, ensuring stock is regulated to keep up with demand and easy shipping/tracking information to be determined.
Business Analytics is statistical data used to measure past performance and predict future performance. This information is a key part of organizational business planning. A business can’t know where it’s going if it doesn’t understand where it’s been!
The ability to quickly assemble customer reports is important in the Ad-hoc Reporting process. Dynamic look up and sort features make it possible to predict stock balances and order fulfillment needs. Streamlining your day-to-day operations is important for a business in the current fast paced business environment.
A dynamic ERP solution ensures a business has the best information on hand 24/7. The ability to use this information can transform business procedures to ensure it’s operating at maximum capacity.