Enterprise resource planning (ERP) software is a means of putting together all of the different functions of a business in a single platform employees can access as needed. For example, an ERP solution will likely include support for manufacturing, inventory management, planning, quoting, accounting, sales and marketing, and customer relationship management. Customers who implement ERP software, such as SAP Business One London, typically enjoy a great long-term return on investment. The following are some other common benefits.
With a single platform that all users can access, employees can work much more efficiently. They don’t need to switch between programs for information, and they never need to enter data twice. With cloud-based ERP support, employees throughout the company, regardless of their location, can access real-time information.
Another benefit of ERP software is that it gives companies instant access to information about any product in the inventory. Any employee can find a product’s location in the warehouse, its order status, its price, and any other relevant information at the click of a button, saving the need for phone calls to the warehouse or physical searches.
ERP software includes the ability to group employees into teams and promote collaboration within and among teams, like Customer Service, Sales, and Marketing. Project management tools make it easy to assign tasks and track progress, and having access to the same information in real time makes communication faster and more efficient.
Most ERP software includes standardized reports, like statements of income and cash flow, job cost reports, and daily labor reports. In addition, employees and teams can run their own customized reports. Having all of a company’s data under one (software) roof also allows a big-picture analysis of data, and this can provide new and better insights into areas for improvement.
When companies rely on an array of software to serve different functions, they often need to upgrade each piece as they expand their customer base, add new product lines, or increase their staff. An ERP system like SAP Business One London, however, is scalable, meaning that it can grow along with the business it serves.