What is ERP? | Types, Benefits & Implementation

What Are The Benefits of an ERP System?

There are many benefits to deploying an ERP system
in your organization many of these benefits stem from ERP systems ability to be a single source of all
data in your organization. Prior to deploying an ERP system, businesses come in with the same problem.
they use several different programs and applications to manage their business processes and
synchronizing them all can become very cumbersome. This is where ERP systems come into play. Here are
some of the benefits of ERP that business experience.

Focused/ Reduced Cost

The upfront cost of an ERP may seem daunting when
compared to other solutions but in reality, simply having one software instead of many can have an
instant positive impact on your bottom line. Having an ERP can reduce your overall licensing cost as
well as IT maintenance cost since you will be using one centralized software instead of spending
resources on multiple systems that all require a dedicated staff, infrastructure, and support teams.
You’ll also reduce training costs since your employees will only have to learn one system as opposed
to several smaller applications.

And if you can’t seem to let go of your third party
apps, Enterprises research planning softwares such as Odoo have the ability to integrate these apps
all on one platform. A modular structure is a major strength of enterprise resource planning software
as well. You are in complete control of which one of the various ERP applications your software system
will contain, allowing you to only pay for what your business needs call for.

Improved Employee Productivity and Experience

Another benefit ERP systems can provide is saved
time and improved employee productivity. This is achieved by reducing the time and effort required to
carry out their daily business activities. Even the smallest of actions count. With an ERP there is no
longer a need to switch between different applications because everything exists in a singular system.
When properly deployed, an ERP can really bring down or erase the need to perform repetitive manual
processes. This way employees can focus on the tasks that bring in revenue and matter the most. With
an ERP, training and adaptation is much easier as employees only have to learn how to navigate one
software as opposed to several applications and platforms. This is also great for a simplified
onboarding process as well.

Enhanced Organizational Visibility

Enterprise Resource Planning software gives you
complete vision and access to all the most important aspects of your organization. With data from
every department easily accessible, you can obtain a constantly updated status report on employee
activity. For example, you are always just a few clicks away from knowing how many sales
were made the previous month and making future projections, or monitoring daily inventory levels and
staying on top of customer relations, all on the same platform. This connection also makes it possible
to strengthen collaboration between your teams and promote a more streamlined workflow by breaking
down the barriers present within the company. Marketing, sales, finance and all other departments can
now see the actions carried out by other teams and better coordinate their own activities with
certainty that they have a complete vision of the company at all times.

Pooled Business Processes For A Higher Level of Efficiency

With everything on one centralized database, your
company can run more efficiently. With an ERP, the quality of data in your company is greatly
improved, no data errors and duplicated entries. Having an interconnected ERP is a major step in
improving your organization’s data quality. The built-in Interconnecting modules of an ERP system
boosts the circulation of data, and ultimately helps information easily flow between the different
departments and the rest of the company. Unifying the data means being able to easily and quickly
identify what you are looking for. This saves you valuable time when researching information.