What is Enterprise Resource Planning (ERP) Software?
- Often referred to as business management software that allows an organisation to use an integrated set of applications to manage the business
- Supports key operational and back-office business processes and enables the flow of data between them across business function boundaries
- Collects an organisation’s transactional data from multiple sources.
- Eliminates data duplication and provides data integrity with a single source of truth for effective decision making.
Think of an ERP solution as an organisation’s central nervous system that is critical to survive and grow. An ERP:
- Automates business processes.
- Integrates core modules, reducing the fragmentation of systems.
- Reports a holistic and accurate view of the enterprise.
What are the benefits of implementing a modern ERP solution in my business?
There are typical benefits for implementing an ERP in any business size and industry. These include:
Improved Efficiency: By eliminating redundant processes and automation.
Lower Cost: Through uniform and integrated systems and lower operational costs.
Reduced Risk: With improved data integrity and financial controls or retirement of end of life systems.
Business Insight: Through real-time information from a single source of data.
Optimised Resources: Enabling people to focus on value adding tasks
Enhanced Collaboration: People are able to share data across structural boundaries, e.g. in contracts, requisitions, and purchase orders
Higher User Adoption: Cloud and mobile solutions providing a common user experience – available anywhere and anytime.
Increased Security: By leveraging of cloud based platforms with in built security.
How have modern ERP systems evolved?
If your business has a traditional legacy ERP system you may not be privy to all the additional features and functionality of modern ERP solutions.
Traditional ERP systems were single, integrated platforms designed to manage a core business process, usually a back-office process.
Modern ERP options provide a vast expansion of functional capability and move towards front office/ operational technology (e.g. EAM, Field Services) to create a wholistic platform for the entire business function.
Another exceptional element of modern ERP options is the rise of niche and industry specific platforms – take a look at this guide for a list of ERP vendors by industry.
With the rise of cloud hosted, SaaS model solutions, ERP has become an ecosystem rather than a platform, allowing you to rationalize to as few systems as possible with highly integrated systems and processes.
What system would work best for my Industry and business size?
There are a huge range of vendors currently on the market and narrowing these can be a difficult process without a clear starting point. Before you contact a vendor directly, it is always good to do your research and get independent advice on what vendors will deliver the best solution for your unique business processes, goals and expected company growth.
You can fill in our Software Shortlist to receive 100% Independent advice on your Vendor and Implementation Partner options.