ERP stands for Enterprise Resource Planning. ERP is business management software that integrates several business processes into a single system. It acts as the backbone of a company, running from a single database of information and streamlining and automating processes, data and workflows across the entire operation.
ERP ranges in functionality – from basic packages right up to very sophisticated solutions. In this way, it is versatile enough to be used by all types and sizes of company and is beneficial in automating processes across all business functions, including finance, purchasing, warehousing, sales, marketing, HR and more.
ERP systems vary in capability. The core of the system is usually based on functionality for finance and accounting, but it may also include features or optional modules that manage other aspects of the business such as: CRM, procurement, ecommerce, manufacturing, stock management, project management and marketing automation.
The primary benefit of an ERP is to provide a single, real-time view of an organisation. Running on one unified database, it provides accurate information about customers, sales, stock holding, finances and more. The insights provide leadership teams with a clear view of the business, allowing them to make timely, well-informed business decisions.
Staff from right across a company can access an ERP, managing operations within their own departments and producing reports and analysis. An ERP delivers greater efficiency and improved productivity in accounting, finance, purchasing, supply chain management, sales order processing and warehouse and stock management.
With less need for duplicated data entry and manual tasks, an ERP ensures better accuracy. By automating processes and integrating workflows, human errors are minimised and employees save time and manual effort.
Transparent operational and business data helps to inform the business, prompting changes that can drive business growth, deliver more efficiency and improve financial indicators and profitability.
For more information on one of the world’s most popular ERP systems – NetSuite – contact us today.