What is ERP?
ERP, or Enterprise Resource Planning, is software that centralizes business information into a single platform. This reduces the complexity of businesses with multiple departments who often rely on separate software for their different needs. ERP provides a business with a single top-down overview along with the ability to make insights from all the combined data.
A summary of benefits of implementing ERP include:
- Lowered costs
- Streamlined business processes
- Real-time overview of the entire business.
- Business insights based on data.
- Fewer data contradictions between departments
- Enhanced labor productivity
- Increased ease in complying with regulations
ERP software typically contains several different modules, such as CRM, sales, human resources, accounting, distribution, and production. Employees in different departments have access to differing parts of the ERP software, depending on their role. Data thus entered by each segment can seamlessly transfer to other parts of the business.
Nowadays, many companies are implementing cloud ERP systems rather than on-premise systems. Cloud ERP systems offer the same benefits of on-premise systems, but also lower the barrier to entry. With cloud systems, companies don’t have to purchase/manage the servers and IT staff required to host their own system; the ERP provider handles this instead, allowing companies to implement ERP more quickly and at less cost. Other benefits include scalability and geographic mobility (since accessed through the internet), meaning global companies can be connected through one ERP system rather than having multiple.
Common examples of cloud ERP software include NetSuite, one of the world’s best business software suites, and Odoo, a popular open-source ERP platform. Some ERP providers also create industry-specific software for industries with unique requirements. For example, Bista Solutions offers customized software for the meat processing industries (OptoMeat) and automotive industries (Turbo).
Despite its many benefits, implementing ERP can be a costly and time-consuming task (see 10 reasons for ERP Implementation failures). Before starting a project, organizations need to have a clear understanding of their goals and what they want to get out of their new system. They also need to partner with a reliable implementation firm to make sure the product fits their needs.
Bista Solutions is a firm that specializes in ERP development and implementation and has partnered with companies across multiple market segments, including the automotive industry, healthcare, manufacturing, retail, services, telecommunications, and more. If you’re interested in implementing ERP software or have any questions, please contact us at email@example.com.