Enterprise Resource Planning (ERP) is now an integral part of any business unit. The benefits of ERP is widely known and accepted in all domain industries because it provides easy access to business data and analytics by integrating multiple function areas.
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Why is Enterprise Resource Planning Widely Used?
1. Why is Enterprise Resource Planning Widely Used?
Enterprise Resource Planning (ERP) is now an integral part of any business unit. The
benefits of ERP is widely known and accepted in all domain industries because it provides
easy access to business data and analytics by integrating multiple function areas.
1.Finance
Companies can expect to find all information regarding finance - purchases and
expenditures in a common data store, sothat critical finance information can be effectively
controlled by appropriate data owners. This also helps in assessing company performance
and planning for long term financial stability and growth.
2.Operations
Effective collaboration between Marketing, Sales, Quality Control and Product Development
can be established using ERP solutions. The logical flow of information aids in process
definition and implementation.Business processes can be further integrated with supplier
and customer databases in the long run (CRM- Customer Relationship Management) to
maintain customer loyalty and good-will.
ERP solutions can be effectively used to merge processes of multiple business units as well.
This is largely due to standardizing of business processes such as manufacturing, quality
checks etc. This in turn largely increases productivity for the company as a whole.
3.Human Resources
In many companies, HRD finds it difficult to maintain employee records. Some of them may
also have to guard critical employee information, when the business units are remotely
located. ERP packages come in handy by bringing together multiple HR systems and
constantly maintaining updated employee and customer data.
ERP Solutions
Enterprise Resource Planning solutions are widely implemented across the globe (commonly
used packages are retail solutions and manufacturing software solution). Companies can
access data related to multiple functions like finance, human resources, procurement,
accounting etc. from one place; which helps managers to take informed decisions at the
right time.
Enterprise solutions that aim to lower total cost of ownership (TCO) delivered through a
superior understanding of product, established processes and an integrated approach to
leveraging technology is vital for the growth of any business unit. An Enterprise Resource
Planning solution that canefficiently handle a company’s core and support business
functionalities can make a large difference in improving its ROI as well.