Ask “What is ERP software?” and the answer is that it stands for Enterprise Resource Planning and is business process management software that allows a company to use a single system of integrated applications to manage their business. It also automates business processes and manages operations over all functional areas of the company. ERP encompasses most business processes, including accounting, financial management, supply chain management, and service management, as well as sales, marketing, and order processing, into one complete system to streamline processes and consolidate information across the entire company. ERP also contains business intelligence (BI) tools to provide deep insight into the company’s performance against key performance indicators.
ERP implementation can vary widely from one company to the next, depending on how each business decides to manage their information. All ERP systems offer a shared database that supports the myriad functions used by different business departments. This means that employees in different functional areas, like accounting and sales, are able to rely on the same information for their specific needs. And it’s all available in one place via role-specific interfaces.
ERP software also offers varying degrees of synchronized reporting and automation, meaning its centralized database is designed to decrease the reliance on spreadsheets. This facilitates ease of use and access to actionable information onscreen and via dashboards or portals.
ERP helps employees perform their jobs more efficiently by removing the barriers between the different departments within a business. It provides a global, real-time view of the data that affords companies the opportunity to proactively address issues and drive the improvements required to lead the company to be successful.
The flexibility that can make ERP a powerful business tool should not be underestimated by a business of any size. What is ERP software? Something your business probably needs. Ready to grow your business? Get your free organizational readiness assessment.