An ERP system is an integrated solution, sharing a centralized database, with all ‘users’…. Human Resources/Payroll/Benefits, E-procurement, Accounting, Budgets, etc …. being served by the same database through one point of entry. Data need only be entered or updated once, reducing errors, time and labor for reports, analysis, planning and program management. Ultimately, time and resources are shifted to innovating, problem solving and direct service to customers rather than inputting, processing, organizing, verifying and related “busy work†that burns through time and money.
Benefit of ERP: - Improved visibility: Due to the centralized nature of ERP systems , organizations can track inventory levels on a daily basis, including inventory in transit and future consignments to be received. This visibility can enable organizations to control their working capital requirements to a great degree. This visibility also enables organizations to run their enterprise in accordance with their strategy, while empowering them to make quick decisions to pursue opportunities. - Reduced operating costs: One of the most immediate benefits from implementing an ERP is reduced operating costs: such as lower inventory control costs, lower production costs and lower marketing costs. By avoiding duplication of information but not reinventing the wheel for common business processes, an ERP provides opportunities for cost reduction and value-added tasks, leading to increased margins. - Standardized business processes: Most ERP vendors design their products around standard best-business processes, which are based on industry best practices. Organizations can use these business processes to standardize their own processes. This process consistency allows a consolidated view of the business across the distributed enterprise, enabling organizations to drive continuous improvements, as operations are streamlined and there is healthy synergy between departments and functions. The improvement also comes from transparency and reduction in human errors due to automation of inter-company transactions. - Improved compliance: With ERP, organizations can enforce compliance related to different regulations.
Enterprise Resource Planning system is an integrated computer based application used to manage internal and external resources, including tangible assets, financial resources, material and human resources or we can say ERP is a computer software system used to manage the organizational resources. Benefits of ERP: Increased Cost-effectiveness Enhanced Work Efficiency Integration of Business Functions Improved International Operations
ERP is best suited for a company having many department where synchronization is much important in terms work, sharing knowledge and decision. It would reduce operating cost, functional cost, improve efficiency..SAP and Oracle are best for ERP..choice is yours.
ERP as the name suggests is used for managing the enterprise or industry in various aspects. It will cover the entire organization taking into consideration the necessary management plans, financial, accounting service, and more. ERP is Decision making becomes easy for management and is useful in generating quick reports. Also, elpful in eliminating data duplication and is useful in faster information processing.
here are some Benefits of ERP. -> Improve productivity and insight -> Reduce costs through increased flexibility -> Support changing industry requirements -> Reduce Business risk -> Improve financial management and corporate governance -> Optimize IT spending -> Gain higher ROI faster -> Retain top performers -> Provide immediate access to enterprise information