Irrespectively of how familiar you might be with Enterprise Resource Planning systems, otherwise referred to as ERP, in general, take a few moments to narrow your focus down on this number $78.4 billion.
Regardless of the context, that stands as a pretty significant number, right? Well, that figure represents the estimated value of the global ERP market by 2026. At this point, you’re presumably thinking to yourself that a number of that size must be associated with one of the major areas of the software industry overall.
Thus, the ERP industry is seemingly worth a second look. After all, it might turn out to be the one thing you never knew you needed to boost the performance of your company’s processes all along.
Is an ERP right for your company’s needs?
If you rely on an ERP system, getting fully up and running will likely drastically decrease the chances of human error, having operations running on schedule without missing a beat, syncing up datasets, all while providing a conveniently singular point of reference.
Your employees will be legitimately thrilled. How so? Because something like this can be your fix for dealing with all those mindless tasks they’ve casually complained about a number of times during their lunch breaks.
Besides, on a higher management level, incorporating an ERP into the way one does things could have quite a positive impact in terms of building a stronger vision for future endeavors. This is possible because aside from supply chain operations, this type of implementation truly is a comprehensive system, thus allowing an informed look into performance management and productivity, in turn allowing companies to rethink how time is spent.
Time is money
To say that the entire process of selecting and purchasing an ERP is fast and easy wouldn't be entirely accurate.
The selection process requires diligent consideration since most ERPs require a significant financial investment on your company’s part. At the same time, however, as you’re frowning at the thought of pouring significant amounts of money into software, remember to also do what bright entrepreneurs do all that time - take into account the long-term benefits associated with a fully functional ERP system and treat it as an investment.
Will an ERP actively increase your company’s revenue? No. But it has a lot to do with saving money since its very opportune unification feature highly reduces the costs that come with managing multiple systems separately. This also reduces the number of employees you need to oversee certain easily automatable tasks, and thus the salaries you have to pay.
Everyone’s busy tackling their workload, or so they make it seem, and so the way anybody gets anything done is mostly by juggling high priority and low priority tasks. There are many qualifiers that can describe both types of tasks depending on the specific circumstances, but truth be told, generally, it is fair to say that automation could take care of the lower priority tasks, especially if they’re the absolutely necessary but not very mentally engaging kind.
Instead, an ERP can take care of these automatable and monotonous tasks prone to human error and give your employees the opportunity to use their skills and concentration on something besides menial tasks. Watch productivity go up. It won’t be out of nowhere, smart automation and engaged employees will do just that.
Finally, the kind of teamwork that everyone has in mind when preaching teamwork can actually be done with the help of an ERP since by design and purpose the software facilitates interdepartmental collaboration.]
When it comes to the image your company present to the masses, data integrity is something that you would have to be careful about. It might just be the one area from which it would take a long time for a business to recover should it make a mess in front of the public.
Yet when on the path of growth, one is prone to miscalculations. You don’t want to mess up either of them - not your image, nor your steps toward advancement. An ERP software is what the nearly overwhelmed business owner needs in order to sort out company inefficiencies that over time pile up and sink businesses. Instead of brainstorming for contingency plans, they can enjoy the benefit of a holistic system that can keep track of financial transactions with precision.
Don’t hesitate to leverage technology to boost the processes that make up the base of your business. Anything that keeps you in the race is worth the time and effort, right?