ERP software is the combined management of all business processes in real-time, from cash flow to raw materials, to production capacity also with the status of all the departments from customer relations, sales, accounting, etc. ERP assist with information flow between all departments and business function by correlating all data from a centralized hub with its database management system.
In the 1990s, the Gartner Group used the initials as an extension to MRP (material requirement planning) then later on manufacturing resource planning (MRP), as well as computer integrated manufacturing (CIM). ERP system now seems to cover all basic functions of an organization, no matter the organization’s business, be it manufacturing, non-profit organization and\or the Government.
The following are reasons to buy an ERP software for your organization;
- SAVING MONEY AND TIME
Many organizations often complain about the sticker price of any ERP software, as they do not see how it will save them money. Until they get past it and see how the ERP will provide an excellent ROI.
ERP unifies all of the systems and departments that were separated in your organization, making it easy for your staff to access data from the centralized database. Instead of searching for information through various systems.
Also, organizations save money with ERP by removing the need for staff to be trained for several systems, which will not only save money and time but also logistic efforts involved.
- IMPROVED CUSTOMER RELATIONS
In this digital age, providing and managing your customer’s wants and needs has never been so important as 84 percent of consumers trust online reviews, so what a customer says and how they feel towards your product is very important.
ERP is equipped with customer relationship management (CRM), which the organization detailed history and billing information, gain a better understanding of their wants and needs also formulate your sales strategy for improved lead generation.
- MANAGEMENT OF FINANCIAL AND ACCOUNTING NEEDS
The financial and accounting department in an organization is very important as the manager has to; minimize expenses, ensure the safety of every investment, optimize fund acquisition, and increase the value of the firm.
An integrated ERP software improves cost accounting and managers get to accurately define the budget and allocation cost.
- IMPROVED DATA ANALYTICS
An ERP software records and stores all data of staff input, which makes for an excellent business intelligence tool. And also provides for better analysis of business performance with simplified workflow without getting your IT involved.
Besides, with the streamlined data provided, executives can view reports that include everything from income and expenses statement that offers better insight into everything.
- INCREASED PRODUCTIVITY
In a smartsheet report, 40 percent of workers spend a quarter of their week doing repetitive tasks such as data entry. ERP software eliminates repetitive task by automating all business processes
It also keeps track of business transactions thereby avoiding the need for repetitive data entry work which is subject to human error.
- INVENTORY MONITORING
Most ERP software utilizes barcoding, RFID tags, and serial numbers to keep account of your inventory during the supply chain. Utilization of your ERP can help keep track of inventory levels in a warehouse, which goods are in transport, and which goods will be kept ready for customers.
- KEEPING UP WITH THE COMPETITION
ERP software has become essential to companies who are expanding and looking to remain in competition with other organizations. Organizations are now looking into implementing an ERP to get fast access to information, reports, etc. to speed up decision making.
CARROTSUITE ERP software has been able to give countless companies a competitive edge over their competitors.
- KEEPING UP WITH COMPLIANCE
Being compliant is a must for any organization. But with a separate system, maintaining several records is not easy. Having an ERP software installed can ensure better regulatory compliance through secure, authentic data.
Automation of these reports can further reduce the cost of regular audits. Also, an ERP software adheres to the GENERALLY ACCEPTED ACCOUNTING principal (GAAP) provides you with a consistent way to view your company’s financial status and prepare reports for Government and regulatory agencies.
- EFFECTIVE SUPPLY CHAIN MANAGEMENT
With CARRROTSUITE ERP software, is more responsive and effective to changing environment needs, whether it is increased in demand in production, inventory, procurement, distribution, etc.
ERP software can also be effective for your supply chain management by improving lead times, ensure on-time deliveries and many other benefits that will enhance operations and overall success in your business.
- COLLABORATION BETWEEN DEPARTMENTS
The ERP collective data makes it easier for employees to access information irrespective of their department.
And given the fact that an ERP software has a centralized data hub, where data is compiled, stored, and can be accessed easily, which allows for the reduction of human error, reduction in further cost, and for better collaboration between departments.
It also enables managers to combine and add more data when needed. This information allows both employees and organizations to stay in track and access updated information when they need it.
- AUTOMATED BUSINESS PROCESS
ERP software enables the management with real-time visibility of business procedures, identifies problems, and offers quick resolution for improvement.
It integrates every system in an organization so closely that each department is on the same page, minimizing any chance of negligence and flaw from any department making it easier to pinpoint any area of lacking.
- DATA SECURITY
One benefit of getting an ERP software is data security, by maintaining a level of security as the data is merged in a single centralized system.
With advanced user-permission setting on the ERP, managers can protect sensitive data and ensure that employees only get access to information that they need.
- IMPROVED PRODUCTION PLANNING
The ERP also keeping track of your inventory, it also provides for a better understanding of all other operations. This allows managers to optimize production schedules, staff, and labor to increase capacity.
Also with the software, users can easily create and edit BOMs (Bill of materials) and fixed assets along with keeping track of all previously made changes.
- SUPPORT COMPANIES GROWTH
CARROTSUITE ERP software is continuously improving and expanding with its client growth to resolve any issue with the right intervention and business intelligence to assist in the growth of your organization as you expand your operations, employees, contracts, facilities, or even branch out to different countries.
ERP (Enterprise resource planning) software is a system used by companies to manage and integrate important parts of any business.
CARROTSUITE ERP exists to help companies implement resource planning by integrating all the processes it needs to run a successful company with a single system.