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Advantages of ERP
What Is ERP and Why Do You Need It?
Of all the software your organization can deploy, ERP has potentially the most direct impact on reducing costs.
The best firms are hungry for proven methods to streamline operations and improve their customers’ experience to enhance their competitive position and drive growth – and the value of Enterprise Resource Planning (ERP) solutions are well established.
Competitive advantages arise for firms that can contain costs so that increased revenues translate into higher profits. A well-constructed and implemented ERP solution should reduce costs and increase productivity through improved operations. Standardizing business processes, which is required for the successful implementation of ERP, lays the groundwork for attaining improved efficiencies. An effective implementation of an ERP solution optimizes the use of capital equipment and manpower. This, in turn, increases the importance of other ERP capabilities such as scheduling and resource planning. The SMB sector, which has on average seen greater growth rates than its larger counterparts, is suffering the consequences of a disconnect between what they have in their legacy systems and what they need to compete effectively in a highly competitive and increasingly global environment. A tool that provides insights into how to gain more efficiency from the organization is invaluable.
Until now, most SMBs have struggled to squeeze the information they need for their operations out of a tangle of inadequate tools – for the most part consisting of stand-alone spreadsheets, accounting systems, desktop applications, and a patchwork of homegrown applications. These tools lack the horsepower, breadth, and necessary integration to provide the insight managers need to transform their businesses. Lacking an ERP solution, firms, especially manufacturers, find themselves struggling to compete and grow using applications that are functionally deficient, obsolete, and isolated from other applications and data.
These shortcomings manifest themselves in many ways that adversely affect the organization, some include:
- Inaccurate forecasts play havoc with inventory levels,
- Insight into innovative design engineering is clouded,
- Order tracking from acceptance through fulfillment is cumbersome – or non-existent,
- The revenue cycle is obscured,
- Capacity is underutilized – or overstrained,
- Cost overruns and missed deadlines taint customer relations.
Until now, most SMBs have struggled to squeeze the information they need for their operations out of a tangle of inadequate tools.
For many years smaller organizations thought they were too small to reap the benefits of ERP given the magnitude of the required investment. Solutions designed to fit their specific needs now allow smaller organizations to leverage the power of these systems to attain the same benefits that larger firms enjoy. New approaches to structuring system architectures have greatly simplified implementation and use – and powerful solutions are now much more affordable to acquire and maintain.
At Group FIO, our Cloud Enterprise Resource Planning (ERP) Software is built on OpenTaps Open Source Technology that’s loaded with innovative features and high-end integration. Contact us today to learn more!