Basic Knowledge About ERP You Need To Know

A state of the art ERP system is business software with functionality for every part of your business integrated into one robust solution.

The old way is that many companies still use separate software systems for each function or department. These “data silos” make even the most basic reporting, and tracking tedious, error-prone and unreliable. The information needed to make business management decisions is difficult to attain, must be gathered from multiple sources and can be incomplete.

The ERP way is different. A well-designed ERP solution is able to process any type of transaction from every department in a single, integrated-solution. It can track business operations in real-time and provide timely, accurate information to business managers.

ERP spans from accounting to inventory, from distribution to real-time costing, from manufacturing to quality control, to sales, forecasting and more. ERP systems are backed by robust reporting that gives business managers the insight they need to make decisions about their business today.

A well-designed ERP system is flexible and can be deployed in several ways including:

-at your location (on-premise)

-hosted elsewhere

-in the cloud

ERP systems include finance and accounting, supply chain management, forecasting, manufacturing, distribution, purchasing and material planning, customer relationship management, vendor relationship management, quality control, inventory, service, sales, and reporting.

The benefits of ERP solutions are many. These include

-key business metrics are available in real-time so you can react more quickly to changes

-instantly run status reports

-streamline operations and improve productivity

-reduce redundant information

-improve accuracy of production costing and forecasting