Are you confused if you need an ERP system or not? ERP (Enterprise Resource Planning) system can resolve your many major business problems at organizational level. Every business be it a small startup or an established Big Multi National Company, faces a few common challenges in running their day to day businesses and need systems to support & streamline their processes.
Let’s find out these challenges and how an ERP system can help you tackle them:
This has been evident that communication gap amongst the departments is one of the major challenges. As due to lack of information flow businesses even has to face loss of clients and other monetary loss. An ERP system automates different Processes keeping in loop all the required departments. It generates timely alerts notifying the relevant department to take the required action on time making the flow of information transparent and uniform across the departments.
A lot of times we come across that there are processes in our organization that needs manual entry work which is time consuming and error prone. With time, this manual entry work will grow with the size of the organization and so as the errors.
For Example, Accounting works, Etc. An ERP system, automates the workflow that will allow Sales team to feed the data on its own which will reflect the information to Accounts department system as well. This will help in saving time, encourages data accuracy and better analytics.
Even though you’re using software that takes care of an individual department only like, accounting software for Accounts department, HRM software for the HR Department but that will not serve the purpose at the organization level. You’ll still be facing challenges like communication gap, manual work, lack of reliable information, etc until you go with a complete ERP system that will automate all your processes with all the trusted data at one place.
Integrate a CRM with your ERP system to make it easier for you to maintain a track of your client base. This will help in simplifying your marketing planning and executing the plan. The sales team uses this database to optimize sales channels improving the communication with the customers resulting in more profits with happy customers. l
An ERP system gives you the most updated, reliable and relevant information in just a click of a button. For example, when you’ll have the customer information, sales reports, marketing costs and other important figures at your discrete, you can access the insights of your business at any point of time.
You can fetch a number of reports based on need with all the inputs from different departments across the organization that will help you take better decision to improve your business profitability.
Audit Trails in general term is the documented history of all the actions recorded either on an electronic medium or manually on a paper for future reference. Audit trails have proven to be extremely reliable and helpful when it comes to Accounting system and database management system being under the vigilance of the top management.
Audit trails are basically generated through a process due to which users are being captured and the system maintains the record of every action performed which can only be accessed by a trained and reliable professional for the company and a normal user cannot access this part of enterprise resource planning thus giving the organization a safe and reliable work management system.
The term compliance means, obey to a rule, like a policy, terms & conditions or by laws of the company. On the other hand, Regulatory compliance describes the aim for the organization to bring the compliance in to effect to ensure that each and every person or transaction complies with the relevant laws, policies and terms defined. Since the number of regulations are increasing vigorously and need for operational transparency, the organizations are heading towards the unifying and streamlined compliance management systems for compliance controls.
This is where the ERP comes in to picture. An ERP can record all sorts of facts required in regulating the compliance and ensures that all the required governance requirements can be done with help of automation rather than duplicating efforts and work by the resources.
I hope this blog has helped you identify if you need an ERP system for your company. These are just 5 problems that I have listed here but practically there many small and major problems that an ERP resolves which goes unnoticed by us yet they can make much serious affect to the business.
Have more questions or want to learn more? No worries! Request a free demo and our ERP solution experts will answer all your questions & doubts to help you get started with the best ERP solution basis your business need and budget.