Enterprise resource planning (ERP) is the management of important business components. Organizations bolster ERP with 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 the active monitoring of core business operations via software. ERP provides a current analysis of data from numerous departments within a company. It helps companies gain valuable insight into information within its different teams and departments.
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 overall efficiency. The more potential access to data, files and information a team has, the more likely it is they will succeed in a campaign.
Enhanced Collaboration, Workflow and Transparency From Data Administration
Enterprise resource planning systems move data between crucial business processes. Every department of a business has its own sets of data. Therefore it’s necessary for 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.
Enterprise resource planning brings departments together and creates a singular focused data process. 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. This is because ERP systems maintain customer information in a central location. This information storage helps team members 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 enhance company efficiency with customer communications. For example, a digital asset management (DAM) 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. ERP generates vital resources and intelligence, as a central source for data eliminates time-consuming updates from department to department. Not only are reports accessible for each department, but the extent of the reports created are comprehensive. In-depth analysis, focused insight and groundbreaking analytics are standard with ERP. This is due to its creation of reports by pulling from each transaction within separate departments.
It’s clear that this type of system saves countless hours of unnecessary labor. The central source for data within an ERP effectively ties departments together and moves them forward as one.
The connectivity of an enterprise resource planning system is undeniable. Companies see fluid communication between departments as they further explore ERP software. Ensure your organization is unifying teams and simplifying reports by utilizing ERP systems.