Enterprise resource planning (ERP) is the management of important business components. Organizations assist their ERP process with things like software that controls sub-divisions of a company. Learn these three core functions of ERP to see if your business is aligning itself with necessary management ideas.
What Is Enterprise Resource Management?
Enterprise Resource Management is an active monitoring of core business operations via software. ERP provides a current analysis of data from numerous departments within a company.
The data gathered by an ERP system is stored in a single location, allowing members the opportunity to access information cross-department at any time. ERP’s are designed to increase efficiency.
Enhanced Collaboration, Workflow and Transparency From Data Administration
Enterprise resource planning systems take data and help it move freely between crucial business processes. Just as every department and process of a business has its own sets of data, there’s equally a need for that data to be exchanged amongst them. ERP systems retrieve business data and ensure clarity and transparency. Furthermore, ERP controls data and keeps it uncluttered by keeping it in a single source. This gives members notifications and updates to projects continuously.
Enterprise resource planning brings departments together and creates a singular focused process for important data from each. Any kind of documents, sales and transactions’ resulting data is viewed in a single, sorted process which helps teams stay on the same page. ERP essentially combines each department’s data and makes it work as one.
Evolved Customer Relationship Management
An important function of enterprise resource planning is customer relationship management. Numerous departments could be seeking information concerning a customer, and with ERP systems maintaining customer information in a central location, letting members of any team or department instantly find specific data about a customer. An up-to-date understanding of each customer relationship between every department in the organization pushes efficiency and effectiveness of all customer relations areas.
There are many subsets of customer relationship management that can enhance your company’s efficiency with customer communications. For example, a digital asset management system is a function of customer relationship management, streamlining workflow to allow teams more time and chances to interact with potential customers. DAM also helps teams stay connected to customers with portals for recent public relations assets and product information.
Accessible and Expansive Reporting With Central Data Source
The singularity of information sources makes ERP an optimal system to handle an organization’s reporting. Vital resources and intelligence is easily generated with an ERP, as having a central source for data eliminates time-consuming updates from department to department. Not only will reports be accessible for each department, but the extent of the reports created will be comprehensive. In-depth analysis, focused insight and groundbreaking analytics will be standard with ERP creating reports by pulling from each transaction within separate departments.
As organizations visualize a rundown of different departments which will see massive benefit from superior reporting due to an ERP, it becomes clear that this type of system will save countless hours of unnecessary labor. From human resources, to sales, to customer service and accounting; the central source for data within an ERP effectively ties departments together and moves them forward as one.
The connectivity resulting from implementation of an enterprise resource planning system is undeniable. Companies continue to see fluid communication between departments as they further explore ERP software. Ensure your organization is unifying teams and keeping reports simplified by utilizing ERP systems.