What is Enterprise Resource Planning – ERP?

Enterprise Resource Planning (ERP) software applications help businesses to control and join information from all key areas of the organization with the aim of improving effective decision making. ERP software solutions promote visibility throughout the entire organization, allowing decision makers to improve business operations such as; inventory management, accounting, order management, human resources, supply chain,  product lifecycle, customer relationship management (CRM) among others.

As the methodology has become more popular, large software applications have been developed to help companies implement ERP.New ERP systems provide visibility, analytics, and efficiency across every aspect of a business. Using the latest technologies, ERP systems facilitate the flow of real-time information across departments, so businesses can make data-driven decisions and manage performance – live. ERP software should serve as the essential part for managing all important aspects of a business.

ERP applications automate and support a range of administrative and operational business processes across multiple industries, including line of business, customer-facing, administrative and the asset management aspects of an enterprise.

Characteristics of ERP

ERP systems typically include the following characteristics:

An integrated system.

Operates in real time.

A common database that supports all the applications.

A steady look and feel across modules.

Installation of the system with complex application/data integration by the Information Technology (IT) department provided the implementation is not done in small steps.

The benefits of ERP

ERP is an Enterprise Application

An ERP system uses enterprise resource planning applications that talk to each other and share a database. The software designed to be used by large-scale businesses and usually requires dedicated teams to customize and analyze the data and to handle upgrades and deployment. Small business ERP applications usually modified for a specific business industry or vertical are lightweight business management software solutions.

What can an ERP system do for business?

The right ERP software brings all business processes together for easier collaboration, faster decision making, and improved overall productivity for the whole team. An integrated ERP system helps in:

Financial management - Improve management control over cash flow, company assets and accounting.

Supply chain and operations management - Streamline your purchasing, manufacturing, inventory, and sales-order processing.

Customer relationship management - Improve customer service, and increase cross-sell and upsell opportunities.

Project management - Get what you need to deliver work on time and on budget with better billing and project monitoring.

Human resources management - Attract and retain good employees with tools that help you hire, manage, and pay your team.

Business intelligence - Make smart decisions with easy-to-use reporting, analysis, and business intelligence tools.

Datamate Infosolutions Pvt Ltd is a software development and services company specialising in software products for Healthcare and Hospitality industries.