Considering integrating your software and financial management on a single digital platform? Finding frustrations with all the processes that take you away from running the business? ERP may be the solution for you.
What is ERP?
Enterprise Resource Planning refers to an integrated management system that helps business processes. ERP will likely implement software and technology to ensure the most streamline processes. Paired with software ERP can gather and collect necessary data to help with analysis and financial processes such as staff pay and revenue. It can also assist in risk management and business compliance.
Who uses ERP?
Businesses of all sizes can benefit from the use of ERP, as consolidating all data and business information saves time and money. With the right software, ERP can act as guidance and support for business growth, profits and cost management.
The benefits of ERP
ERP is a fantastic solution for small and medium businesses with multiple data sets spanning across various parts of the business. Some of the main benefits of ERP include:
- Improving business insight: With consolidated data you can holistically investigate business success, growth and innovation, as well as manage costs effectively. As it is all in the one place, you can strategise in a way that considers all avenues.
- Decrease operation costs: With the best practice methods and structured processes you can lower the costs that may come with multiple software systems and data consolidation.
- Enhance collaboration: Combining all elements of the business means that staff have complete visibility of all areas, and collaboration becomes easier. If one area of the business can see the success or challenge of another, they can find solutions that include their own expertise. Without this visibility, departments may get siloed and neglect to consider the impact of their KPIs with others.
- Improved efficiency: Naturally, spending time on one system is going to be far more efficient than looking at multiple, but efficiency can also be improved with the right user experience. Innovative software should consider all modern challenges that businesses face, and be able to offer faster, more efficient solutions.
- Higher user adoption rates: With a user-friendly platform that integrates everything in one you’ll find more users and staff adopt the platform. With software allocated for salary, for data and analytics, for operations, etc. etc., it can be frustrating to manage all these platforms at once. Integrating them all will encourage more adoption of the processes.
- Reduced risk: There can always be risks to manually managing processes, and utilising various platforms to tailor to various parts of the business, but this can also lead to human error and issues with communication cross-department. Integrated software reduces these risks, so you can focus on what’s important.
- Lower management and operational costs: Because you are integrating all of your processes into one software, you’ll find the budget you may have for software and operations will drop. This means more investment in growth opportunities.
See how ERP can benefit you
If you’re curious about the benefits of ERP you can reach out to Arrow on 1800 248 265. We provide integrated, innovative digital software that helps you manage every process that gets your business running. And our authorised partners can offer tailored advice and solutions to suit your specific needs.