What is ERP?

ERP is a term that has been around for some time however many people wrongly assume that every business executive knows what this term means as well as what it can do to transform a business. If this is you, don’t worry as you’re not alone – you’d be surprised by the number of business owners who don’t know what ERP stands for, let alone what it can do for their business.

What does it mean?

ERP stands for Enterprise Resource Planning, which is made up of a combination of software modules that handle the core functions of a business in one central database. The original concept behind the development of ERP was to bring together and manage functions such as accounting, inventory, sales and purchasing in one fully integrated application so that data and information could be passed between departments.

In recent years ERP has increased its core functionality to cover industry specific requirements such as manufacturing, construction, retail, wholesale-distribution and professional services but the idea behind the software is still the same; to help your people work faster and better, reducing risk and supporting and driving business growth.

What can it do for my business?

There are plenty of benefits to having an ERP solution. These can include;

  • Reducing inefficiencies in business processes
  • Allowing effective planning and allocation of resources
  • Reducing the cost of overheads
  • Giving a complete view of clients’ activity
  • Bringing together siloes of information into one system
  • Increasing productivity by reducing duplication of tasks like data entry
  • Delivering up-to-date reporting of how your business is performing against the overall strategic plan

Do I need it?

Each business is unique and there are many reasons why businesses are choosing to migrate to a new ERP solution. Here are a few of the most common reasons for making the change:

  • Major changes to your business may affect the stability and suitability of your existing software systems.
  • Reporting on key areas of your business is limited or can take time to put together – time you often don’t have.
  • Accounting and other processes take too long.
  • Customer satisfaction is suffering due to the lack of information available to your staff to make quicker decisions.
  • Maintaining your existing systems is becoming costly.
  • You are using a bespoke system and the supplier that developed it no longer supports it.
  • The lack of flexibility to adapt your system is slowing your growth.
  • You want to trade internationally and have no capabilities for multi-currency processing.

Still feel you’d like a little more information? Feel free to call our expert team now on 08456 44 79 49
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