What is ERP & Why is it important for your business?

  • 10 January 2020
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What is ERP

ERP stands for Enterprise Resource Planning software. It is a software used to manage the day to day business functions and activities such as sales, admin, procurement, project management, risk management, and compliance, and supply chain operations. A complete ERP suite that also helps to build customer relationships, helps plan better and increase profitability. The software minimizes the scope of duplicate data and renders integrity into your business with a single version of truth. 

Why ERP matters

If you are a small and medium-sized enterprise, and the legacy software is not fitting in; it is time to leave behind the excel sheets and step in the world of digitization. Getting up to date and reliable information on almost any business functions can be tricky. An ERP can give you a clear overview of your customers. You can see everything in one place, automate accounting tasks, manage the sales process, check inventory, manage cash flow, track the leads, store critical data, manage warranty contracts, and more.  

Marketers can use this ERP software to understand and make forecasting simpler and more accurate. You’ll have clear visibility of every opportunity, purchase order, sales figures and have a clear path for almost everything. 

Life without ERP  

Vital details can be lost. As a warehouse manager, you can lose sight of how much inventory is in stock and thereby understanding whether there is an under-stock or overstock situation at hand. As a finance manager, it would be difficult to manage budgets, calculate expenses and depreciation, measure the profitability of projects, and so much more. As a sales manager, you can lose sight of what your team is currently doing, what all prospects are lined up, which sales rep has won a lead or lose.  

Benefits of an ERP 

An enterprise resource planning platform displays many benefits that are known to produce real results – including direct improvements to the bottom line.  

  • Improve business insights from real-time information 
  • Simplify financial tasks
  • Automate broad set of functions
  • Eliminate information silos 
  • Gain fast answers to critical business questions
  • Simplify repetitive tasks so you can focus on other things 
  • Eliminate the need for repetitive manual data entry
  • Help in financial reporting and analysis 
  • Real-time information helps spot problems early and identify gaps 
  • Deliver instant insights on the move anytime, anywhere, and on any mobile device

Companies of all sizes are transitioning to Cloud ERP for added benefits. A cloud based system doesn’t need special hardware to set up, keeping IT costs considerably low and mitigate any unnecessary complexity  of updates and versions. Generally, cloud based solution works on pay-as-you-go model and you can scale the system when the need arrives. The cloud based model is cost effective and extremely comfortable to scale as your business needs evolve. 

Cloud-based ERP offers:

  • Faster deployment
  • Latest innovations at your fingertips with automatic updates
  • Cost-effectiveness and scalability
  • The ability to work from anywhere, on any device
  • Increased collaboration
  • Get up and running quickly 
  • Accommodates the need from 2 to 200,000 employees 
  • Disaster Recovery and High Availability  

Learn more about ERP from our experts

Implementing or upgrading an ERP system may seem daunting. But, it can be a strategic asset if implemented by a team of experts such as Uneecops. After conducting 300+ SAP Business One ERP implementation, you can confide in us to give your business the Next Gen ERP solution to empower your business. 

Nidhi Batra

About the author

Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.