These days business owners look for efficient ways of automating their business processes. It is not surprising as we all know that digital tools help to save time, money, and effort to direct all of it to more vital operations. As the software market never stops developing, there is a wide range of software solutions that are tasked to optimize the company’s workflows by implementing tech tools and automating the daily operations.

We would like to mention one of the most popular software systems that are implemented into modern business companies – ERP or Enterprise Resource Planning whose main goal is to properly distribute company resources to boost its productivity.

Now let’s dive into details on what ERP systems are and what features they can bring to your organization.

What is ERP?

ERP or Enterprise Resource Planning systems aim to unite all workflows within a particular business company or any other organization. By automating internal business processes, ERP provides managing of all departments like finances, sales, marketing, inventory, HR, etc.

How does it actually work? All company data is gathered and recorded in a single database that is accessible for all employees. This information is analyzed to report on the efficiency of each company department and activity. Thus, ERP solutions provide optimization of company workflows and bring the following benefits:

  • automation of all business operations;
  • improved project management;
  • unification of company departments for more efficient cooperation;
  • reduce costs as ERP helps predict unnecessary spendings and replace paperwork; 
  • generating custom reports for analyzing the company activities;
  • improve customer experience;
  • boosting the company’s productivity

Key features of ERP

ERP system is a complex solution that considers the main business objective and requirements of a particular organization. It is high time to list the core features of ERP solutions and what benefits they can bring into your business workflows.

Process automation

We have already mentioned above that ERP systems aim to automate as many company operations as possible for more productive work. And now we would like to dive into detail about the automation feature of ERR systems. Automation is tasked to reduce manual effort and make the task execution quick and effective.

These tasks are usually repeatable actions like order processing, payrolls, and invoices, reports based on data analytics, etc. Thus, ERP automates all these processes and saves time and money for more vital business tasks.

Data analysis

ERP systems gather and record all vital business data in a single database. Therefore, this information is accessible and well managed for all departments of the organization. However, it is not the main benefit of ERP talking about data records. Due to data analysis, ERP systems automatically generate custom reports to monitor the efficiency of business operations, reveal any problematic areas and predict opportunities for the company`s further development.

By analyzing all executed actions and tasks, ERP gives full control of business workflows, predicts of company’s requirements, helps to create a budget, and shows what errors should be fixed to improve the company’s services or customer experience.

Accounting management

The finance department is considered to be one of the core fundamentals of any organization. So any business owner seeks full control of all finance operations and predicts the general revenue that the company can bring.

ERP software simplifies these processes and makes them transparent and understandable as finance operations are usually executed in practically each company department. ERP provides full control of all finances and records all information related to the payment that is required for monthly or annual reports.

Generate custom reports

As the ERP system aims to record all vital business data among all departments, consequently this information is being analyzed and converted into reports. Such reports let you monitor the company`s workflows in all areas, see their efficacy, perspective of development, and needs for changes or improvements.

Custom reports also reveal problematic spheres of your company and help to make important decisions as they are based on analyzed business data. ERP reporting is not only about long lists of numbers. These reports are usually visualized as graphics, charts, diagrams to see clear indicators between different reports.

Reduce risks

Business digital transformation is tasked to replace humans and paperwork with automated processes managed by software tools. No wonder digital tools as ERP automates some work processes and consequently eliminates the risk of human errors. However, it is not about the full replacement of human resources.

On the contrary, ERP systems take over a particular range of responsibilities and employees have more spare time for other vital tasks with no overloads. Thus, the general company’s productivity only continues to grow.

Scalability

One of the ERP beneficial features is its scalability. No matter what size of your company is, this system can grow simultaneously with your organization. Once you implement an ERP system into your workflow, you need to understand that you can always improve your solution by expanding its functionality, adding new technologies, and provide any changes that will be required for your company’s productivity.

Customer Relationship Management

CRM or Customer Relationship Management is particularly beneficial for the marketing and sales department. It records and structures all customer information with quick access to it. CRM systems also manage all marketing and sales activities. It lets monitoring the customer experience throughout the sales cycle and reports on its efficiency and weak sides to improve the customer experience and outcomes.

All in all, if you want to stay in business and be aware of the latest tech trends, then implementing automation tools is inevitable for your company. ERP system is a business software that helps to provide management of all company’s departments, automate some business operations and report on the efficiency of each sphere of your organization that lets you reveal the weak sides and turn them into advantages.