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What Is ERP?

What is ERP

ERP is a type of software used by organizations to automate and manage day-to-day business activities by providing insights and internal controls from departments such as accounting, manufacturing, supply chain management, sales, marketing, and human resources for optimum performance.

What is ERP

By coordinating the data flow between a company’s business activities, ERP software creates a single source of truth and streamlines operations throughout the whole organization. The finance, supply chain, operations, business, reporting, manufacturing, and human resources functions of an organization can all be integrated into one platform.

Most businesses have a financial and operational system in place, but siloed systems cannot go beyond day-to-day business processes or contribute to future business growth. As businesses grow and their needs change, their systems must keep up with the pace.

 

Importance of ERP for Businesses

Despite the fact that there isn’t a single comprehensive solution for all business activities, ERP technology is getting better at fusing operations together. Once your systems, processes, and data are all interconnected, you’ll have the business insight, acceleration, and adaptability you need to begin optimizing your processes.

Top 5 ways an ERP system can help your company are as follows:

1. Operate at peak efficiency:

AI-powered solutions give you access to insights that improve your decision-making and show you how to move forward with operational performance improvement.

2. Quicken the impact on operations:

Employees will have more insight and flexibility as a result of the connection of processes and data, which will enable them to act more rapidly and provide more value across the organization.

3. Ensure organizational agility:

Many ERP solutions are designed to grow with you and adapt to business demands, assisting you in being proactive in anticipating and responding to any operational disruption or market shift.

4. Increase productivity:

Automation, from invoice generation to marketing automation, is one of the main advantages of ERP software.

An ERP also eliminates the need for laborious manual operations like repetitive data entry across many systems by providing one central repository that is accessible by all departments. Your data’s accuracy will likewise increase!

5. Reduce operational Cost:

Zetamind can implement ERP to assist your company reduce costs and boost profitability across all divisions, from manufacturing to finance, through improved operational process efficiency.

The act of just consolidating your IT systems typically results in cost savings; by spending less on multiple licenses, support costs, infrastructure, and administrative resources to handle it all, production planning becomes simpler.

An ERP will give you new levels of data as a manufacturer to proactively manage operations, supervise inventory management, avoid delays and interruptions, and make quicker decisions.

5 signs that you need ERP

You must be wondering if it’s time to implement an ERP system for your business, think about all the processes needed to run your business.

Is your business running with the efficiency you need, whether it’s inventory or order management, accounting, customer relationship management?

Do you rely on guesswork rather than data to predict sales?

Does your business undergo too many office functions and administrative tasks? Are you wasting your time?

Simply put, ERP or enterprise resource planning system can integrate many business-critical functions into one comprehensive solution. This means that processes are streamlined and information can easily be stored and shared across the organization.

Here are 5 warning signs that your business is in a dire need of an effective ERP system;

1. You’re dealing with different systems:

As technology evolves, you find that your different systems don’t work well together. You may find that your new accounting software isn’t compatible with your old HR system and you’re tired of wasting time and resources trying to find a solution.

2. You can’t meet customer expectations:

If your employees and customers are mobile and your system isn’t right for them, it’s time to invest in a system that meets everyone’s needs. Giving your employees the tools they need to succeed and investing in meeting customer expectations can help you maintain your competitive edge.

3. Difficulty in accessing financial data about your business:

Does it take more than two hours a week to collect financial data from countless spreadsheets and different applications? If accessing business information and reporting becomes a nightmare, it may be time to upgrade to an ERP system. Accurate data is essential to making critical business decisions, and you need to be able to generate this data with minimal manual input so your employees can comfortably focus on what`s going on. 

With an ERP system, all your data is in one shared database with accurate, real-time data. This makes it easier to get a holistic view of business operations. When you have all the data at your fingertips, this allows business owners a 360-degree view into your operations and allows them to make more informed business decisions. 

4. You depend too heavily on manual processes: 

How much time do you or your employees spend performing manual tasks like? 

  • Entry of data manually 
  • Incorrect data being re-entered after being cross-checked 
  • Copying information to other systems and software 

Are spreadsheets, paper invoices, or sales orders something you rely on a lot? All of it can be handled by ERP software in a flash, and it streamlines and automates laborious tasks that would normally take hours to finish manually. An ERP system frees up critical staff time, increasing your company’s productivity and efficiency.

5. You use multiple software systems or applications:

Do you find that your employees use different software systems across business functions? Do warehouse staff use a different system to track shipments? When your business uses multiple separate systems, it becomes difficult to operate efficiently and you may receive incorrect or redundant data, which can derail your operations. For example, Dynamics 365 Business Central, an ERP system ideal for small and medium businesses, will allow you to manage your entire business from a single platform, connecting data from all departments.

 

CONCLUSION:

Do you need the services of an ERP consultant or trainer?

Now that you know what an ERP is and how it can be beneficial to your business growth.

Are you ready to implement an ERP System and take your organization to the next level? We can help!

Why Choose Us?

We are a leading Microsoft partner in Nigeria that aligns with your business goals of your organization and offer robust ERP solutions to ensure these goals are met.

Email: info@zetamindgroup.com

09044608973, 07042943031

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