Business computing infrastructures are more complex than ever as companies migrate to the cloud and collect data from various sources. IT departments often find themselves overburdened as they try to manage all that data into a single, cohesive environment. Fortunately, enterprise resource planning (ERP) has made this a whole lot easier.
ERP is a type of software consisting of an integrated suite of business applications for day-to-day activities, such as procurement, accounting, project management, and risk mitigation. A complete ERP suite helps plan, budget, and predict financial outcomes and more from a centralized administrative dashboard. They’ve become one of the most indispensable components of a technology strategy.
Here are five reasons why:
#1. Drive value with a centralized database
One of the biggest challenges facing decision makers is determining which data to pay attention to and how to turn that data into actionable insights. This challenge is only getting harder as the amount of data collected by routine operations continues to grow.
If you have lots of different systems, each one having its own database, there’s also a higher chance of information silos crippling communications and errors arising due to the same data being manually entered multiple times.
ERP features a common database for maintaining data quality and consistency while providing real-time insights generated by business intelligence dashboards.
#2. Enhance productivity with a streamlined environment
Running a business where different branches and departments aren’t able to share information easily is bad for productivity. That’s exactly what’s going to happen if you have different teams relying on different software, processes, and database formats.
The lack of integrated information results in wasted time on tedious manual processes and working around bureaucratic red tape. On top of that, employees will struggle to familiarize themselves with the disconnected systems of branches and departments.
ERP brings a suite of integrated apps that all share a centralized database and provides a consistent user experience across the board.
#3. Greater cost savings with simplified management
Back in the ’90s, ERP solutions were deployed and maintained on-site, with a single license often costing a five-figure sum. As such, it was largely exclusive to big enterprises with their own dedicated in-house IT departments.
The costs of maintaining in-house hardware, desktop software, and all the infrastructure necessary to keep everything up and running were huge. At the same time, the lack of integrated business processes limited the abilities of smaller organizations to grow.
ERP solutions are now available to businesses of all sizes, thanks to the rise of service-based options hosted in the cloud. This greatly reduces capital expenses and allows businesses to tap into solutions only when needed.
#4. Enable workforce mobility without adding risk
Employees are becoming more mobile than ever before, and many are now accustomed to working from home or on the move. The business benefits include enhanced productivity, reduced office space requirements and other overheads, and the ability to work with talent all over the country and beyond. But without a centralized, cloud-enabled solution, none of those things are possible in most cases.
ERP provides a wide range of deployment methods tailored to suit individual business users. With a cloud-based solution, all apps and data can be accessed online on any device connected to the internet.
#5. Increase scalability with cloud-based deployments
Traditional business IT comprised of in-house networks consisting of servers, workstations, and various other endpoint devices. Sharing data often meant manually copying it over via external storage media or using email and online storage.
These systems are very limited in their abilities to scale with demand, and businesses often end up spending far more than they need to when trying to anticipate and prepare for future growth. This results in missed opportunities as adaptability to change is paramount to business success.
Today’s ERP systems are highly flexible, scalable, and cloud-enabled, making them available anywhere on demand. Onboarding new users and adding new licenses is a simple process that can be done with just a few clicks of the mouse.
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