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> Why do companies buy

ERP solutions

?



What is ERP?


Short for Enterprise Resource Planning, ERP, doesn’t live up to its acronym. Forget about planning, it doesn’t do much of that and forget about resource. But remember the enterprise part. Enterprise resource planning software is a business management system that integrates all aspects of the business, including planning, manufacturing, sales, and marketing. Over time ERP solutions have evolved to help companies implement ERP in business activities such as order tracking, inventory management, customer service, finance and human resources. ERP’s true ambition is to integrate all departments and functions across a business onto a single computer system that can serve all those different departments’ particular information needs. This integrated approach can have a tremendous returns on investment if companies install the system correctly.

ERP solutions
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What will an

ERP solution

bring my company?

There are five major reasons why companies undertake an ERP implementation:

  1. Integration of financial information - A company’s overall performance has many different versions. Every department or business unit have their own version of how much they contributed to revenues. An ERP solution creates a single truth that cannot be questioned because everyone is using the same system.
  2. Integration of customer order information - ERP systems help companies to keep track of orders more easily, and coordinate manufacturing, inventory and shipping among many different departments and locations at the same time.
  3. Standardise and speed up manufacturing processes - ERP solutions provide standard methods for automating the steps of a manufacturing process. Standardising those processes, using a single integrated system can save time, increase productivity and reduce costs.
  4. Reduce inventory – When the manufacturing process flow is better controlled using ERP, inventories are likely to reduce, both on the input side and the output side as well as the work-in-progress inventory.
  5. Standardise HR information – An ERP solutions ensures a unified, simple method for tracking employees’ time and communicating with them about benefits and services. Especially relevant in companies with multiple business units.

In order to address industry-specific problems and customisation needs, ERP vendors have recently begun to provide specially tailored application sets to take care of each vertical segment's needs.

Compare all leading ERP solutions? Request a free ERP information pack now!