An integrated ERP or Enterprise Resource Planning (ERP) system is a software utilised to optimise business process management. Essentially, a system of interconnected business applications manages your enterprise and automates many back-end business functions such as financial accounting, human resources, and more through function-specific ERP modules. You do not have to waste time and resources on manual, repetitive tasks and can shift your focus on improving your business.
What are the different ERP modules that are part of an integrated ERP system?
ERP systems comprise multiple modules to create a smooth flow of information tailored to both department-level and enterprise-level needs. These can be individually purchased or as part of tailored packages based on organisational needs. Some of the functional ERP modules that can be integrated into one ERP system are:
Why use an integrated ERP solution?
These strategic tools reduce costs, optimise business processes, and promote healthier risk management. At the very core of every ERP software is the aim to bring every aspect of your business together under one roof to produce a well-oiled machine of a business.
For instance, a customer-specific ERP software or CRM will boost customer relations that converts to revenue for the business. A CRM enables managers to take a detailed look at every customer relationship. They can organise the client base as per their values — high and low, and target higher value customers with their marketing material and sales efforts. Communications with clients then become informative, timely and efficient. Implementing CRM also makes it easier to respond quickly when key clients have a complaint.
A company can even optimise their supply chain to eliminate waste with integrated warehouse management and shop floor management where efficiency is improved through constant communication and revamping of systems according to trends.
Where is ERP today?
The short answer to this question is – everywhere. ERP software now works in conjunction with a variety of technology trends to encompass every single business need one might think of. The following new and continuing computing trends have an impact on the growth of enterprise ERP software:
Executives and employees want real-time access to information. Consequently, businesses are embracing mobile ERP apps to gain visibility into real-time reports and dashboards.
The cloud has advanced on all fronts of business as the advantages of the cloud such as, access to data in real-time, scalability and expandable storage, has become apparent.
Social media has been abuzz with how important —or not — it is to add social media to ERP systems. Many have been quick to seize the opportunity and connected social media to their ERP systems.
An all-encompassing ERP system was the aim of every enterprise system. These were intended to take care of every aspect of organisational systems. A change in strategy has brought about the two-tier system where one covers corporate level functions and the other, subsidiary.
How will the business benefit from an integrated ERP system?
Originally, ERP systems were created with the purpose of seamlessly merging basic processes like planning, manufacturing, and sales with each other within an enterprise. More recently ERP software encompass marketing, inventory monitoring, order automation, customer service, finance, and human resources as well. As the span of functions covered by an ERP solution has increased, it has also led to increased communication among correlated departments. Every company is a synergistic entity and all the departments must collaborate amongst each other to meet the needs of the entire company. An integrated ERP system enables you to do just that by providing role-based access to information with linked ERP modules.
The advantages of an integrated ERP are numerous and it might be exactly what your business needs right now to accelerate revenue growth. Increase communication among departments, improve workflow and help your employees make informed decisions that are backed by reports with an integrated ERP system.