ERP software collect and consolidate essential business information in an efficient, organized way to help your business streamline and scale operations. They are the nucleus of your organization.
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Continue reading to learn the eight key aspects of ERP software that will help you better understand your ERP system and optimize your business operations.
ERP Software: The Fundamental Concepts
An enterprise resource planning (ERP) system consists of various integrated modules or business applications that share information from a central database to unify your business operations and optimize your work. From accounting to customer relationship management (CRM), your ERP software supports and automizes a range of processes throughout your business to act as a catalyst for business innovation, a platform for efficiency, and so much more.
Maybe you’re evaluating your ERP software needs, or you’ve recently implemented a new ERP system—having a foundational understanding of enterprise resource planning can help you get the most out of your technology.
Whether you’re a small business or an enterprise, one of the major advantages of a fully integrated ERP system is a centralized cloud database and web portal that allows departments to access consistent data and content within a single source. Web portals often also offer reference tools, web searching, news, and communication capabilities.
CRM & Sales
Customer relationship management (CRM) software is a powerful tool that can be used to optimize profitability and revenue while improving customer satisfaction and loyalty through strategic customer data.
When your team can monitor and manage the interactions and relationships your customers have with your company throughout the sales, marketing, customer service, and digital commerce processes, you will be better able to increase productivity and profitability throughout the sales funnel. Additionally, your team is able to automate this data and share information across all channels for faster, more efficient business operations.
If your business is shipping goods, your supply chain will use your ERP software for a smooth and reliable operation. Whether with a DRP (Distribution Requirements Planning) process or an advanced distribution management system (ADMS), your employees and customers count on accurate and detailed information within an organized system that can help them manage inventory, prioritize orders, maximize shipping times, and avoid any disruptions within the supply chain that can easily be prevented.
While your team might have mastered project management on their own, with the implementation of your new ERP software, project management becomes a simpler process. Transparent, direct, and uncomplicated—project management within ERP software allows for full visibility into project status and demand, resources, estimates, and more, which allows your team to focus on the results.
Another key reporting aspect of your ERP system is available within dashboards. Displaying essential metrics and data throughout many different departments instantly enhances communication and improves decision-making.
Often one of the first adopters of ERP software, finance departments benefit greatly from a comprehensive system of financial information and turn it into data-driven reports and forecasts on potential revenue, expenses, and more.
From computer-integrated manufacturing (CIM) to computer-aided manufacturing (CAM) and manufacturing execution systems (MESs), manufacturing within your ERP system can be complicated. But it can also coordinate operations, ensure that production is in line with the demand, monitor progress, and more.
The e-commerce experience depends on the interconnectedness of efficient, quality access to information throughout the searching, evaluating, and purchasing of goods and services. Having the flexibility to share this information throughout the supply chain and across customer networks helps your business thrive.