Know Your ERP Software
Enterprise Resource Planning (ERP) is the integrated management of core business processes. So, ERP software is business process management software that allows businesses to automate several back office operations, such as those related to technology, services, and human resources. ERP is an enterprise application, often opted for by larger businesses because of its high capital cost and since it may require dedicated professionals to customize and analyze data, and to handle deployment and upgrading of software.
However, even smaller business can benefit from this software, but cost-wise they might benefit more from hiring an outsourcing partner providing ERP instead of making the entire investment themselves. Intersoft BPO offers ERP solutions to small and medium enterprises, with features suited to the particular needs of the business, instead of the whole package, leading to improvement in business operations and reduction in costs at the same time.
Despite the significant benefits that ERP yields for collecting, storing, managing, and interpreting data from several business units, this is one technology that many small and medium businesses still seem to be unaware of. If your company is also one of those, then you might be losing out on a lot more than you know. Read this piece to become aware of the software, its benefits, and how and when to add ERP to your business mix.
Reasons for Implementing ERP
Leading ERP Software
There are several types of ERP software and almost all of them are renowned for their fully integrated interfaces, flexibility and scalability, comprehensive services set, and easily configurable systems. The idea behind these features is to choose the one that fits your needs best and not how much they cost or how popular they are. With more than two dozen ERP software choices available in the market, its best to read up on your business requirements to decide which one to choose, or better, let your outsourcing partner take care of it for you.
What to expect when opting for ERP?
There is a whole range of benefits you can gain from incorporating Enterprise Resource Planning software in your business. Cost advantages will probably be absent for you if you are to buy the hardware and software, and then hire a team of experts to operate them too. However, if you choose Intersoft BPO, then there is massive cost advantage for you too. We will do the investments, you will pay for services only, and your company will reap all the benefits.
Data security: These come with built-in restriction controls and firewalls that ensure against any data breaches. When you have your operations integrated at one place, and better yet if it is your outsourcing partner than in-house, the access points are monitored tightly and security controls are stronger.
Collaboration between departments: As you grow as a business, two things happen simultaneously, it becomes increasingly difficult to manage departments separately, and it becomes even lesser productive to evaluate departmental data analytics separately. ERP software solves both these problems by allows you to bring several teams together, even if the actual operational areas are geographically distant.
Compliance and accuracy: As many digital outsourcing solutions are known to do, ERP also brings more accuracy into your data collection and analysis. Side by side since this software is designed according to legal requirements, the built-in regulatory process also keeps your data compliant.
The Services Sections for ERP
ERP software can be customized to serve your exact needs, but overall there is a whole range of services you can obtain through this addition to your business. Following are some of the most common services that small and medium companies may require:
Human resource management: This is the biggest headache for any business, because it not only decides employee motivation levels, efficiency, and turnover rates, but it can also be legally significant if handled carelessly. ERP allows tools like time tracker, time sheet, and database for employee records, job profiles, and skills matrix.
Marketing: ERP not only streamlines workflow of inquiries, quotations and placement of orders for your sales section, but can also bring you easier monitoring of sales cycle, update taxation rules and also track shipping.
Manufacturing and inventory: ERP improves efficiency in your supply chain modules from purchase orders to production flow, aides in product planning, supplier sourcing, production monitoring and forecasting, as well as measures and records stock targets, replenishments and other related targets.
In addition to all these crucial services, you can also choose to opt for more advanced ERP platforms, which can assist you with business intelligence, asset management and even e-commerce. You can also make your ERP software vertical with your industry-specific requirements such as retail, healthcare, government sectors and so on.