Enterprise Resource Planning (ERP) systems are designed to streamline business processes.ERP systems provide an easy way for businesses to integrate multiple applications for all parts of their business into one centralized application that is accessible company-wide.
The primary benefit of an ERP system is that it centralizes all of the applications your company uses into one platform. Product, Engineering, Human Resources, Marketing, Sales, and Executive teams can all have access to the files they need at the touch of a button without having to switch to different dashboards or systems.
Top 5 Benefits of ERP Software for Businesses
All kinds of organizations can benefit from ERP software, from nonprofit organizations to healthcare, construction, manufacturing, and hospitality businesses and everything in between.
Here are the main reasons so many organizations have made the switch to ERP.
1. Enhanced collaboration among teams
When everyone has access to the entire company’s files, it is significantly easier to collaborate.
Everyone will be working from a single location, which means everyone will have the most up-to-date files available. This saves teams time waiting on someone in the company to send them information. It also prevents one team from accidentally replicating the work of another.
2. Improved productivity with automated tasks
ERP software can automate mundane tasks that might be prone to human error, such as data entry. The system can also perform calculations in a matter of seconds that might take a human an hour or longer to complete. Your human workforce is now freed up to spend time on tasks and projects that require human brainpower, while your ERP system handles the rest. The result is improved productivity across the organization.
3. Streamlined compliance
Organizations that work with vendors and clients overseas have to keep track of constantly evolving international regulations. Many ERP systems come with built-in auditing tools that can ensure you consistently meet compliance regulations.
4. Risk management
Using ERP software takes away the potential for human error in accounting and data entry, which improves the accuracy of your financial management and reduces risks. Use forecasting tools to predict upcoming budget and labor events for help with planning and product development.
5. Enhanced inventory management and monitoring
Tracking and monitoring inventory can be a challenge for growing companies. ERP simplifies this process and improves the accuracy of inventory management by using serial numbers, RFID tags, and barcoding so you can know precisely where every piece of inventory is at each stage of the supply chain.
With ERP software, you can keep track of inventory at different warehouses, plus know which
items are in transport and which are already on the shelves of stores (for retailers). Having
access to real-time inventory data can save a lot of time and prevent you from wasting money
on additional resources.
Ready to Implement ERP? We Can Help!
Many companies hesitate to implement ERP systems because they believe it will be too time-consuming and complicated. We understand that hesitancy and are here to help you every step of the way.
Schedule a free consultation to see how StackBench can help your business become more efficient with ERP software.