Five Reasons Why Your Company Needs Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP) is not a new term in the corporate world, but in recent times, its adoption rate is significantly increased among the companies of all sizes. Growing competition and increasing challenges compel entrepreneurs to integrate the ERP system in their business. The ERP solution can give enterprises a competitive edge by increasing productivity and efficiency. It is expected that the ERP market will reach $86 billion by 2022.
These days, companies have to go through diverse and complex operations to remain competitive and meet growing challenges. Apart from core processes like human resource, sales, marketing, finance, and supply chain, the company has to deal with repetitive tasks like inventory and accounts. There, ERP solution development can lend a helping hand and provide a solution that can take care of core processes. The customized ERP solution enables your organization to increase profit and productivity.
It is fair to mention that ERP can be a game-changer for almost all sectors including manufacturing, construction, logistics, and healthcare industries. Every company, irrespective of scale and size, can utilize its benefits for managing core processes. From decreasing paperwork to bringing digitization, the ERP solution can perform many tasks efficiently for your company. If you want to manage all the processes smoothly across various departments, then ERP integration should be in your to-do list.
Before moving to the benefits of ERP for your company, let’s go through some interesting facts regarding ERP solution.
Quick Facts for ERP Software
- The global ERP software market will grow at a CAGR of 8.2% till 2022
- The ERP software market in the Asia Pacific region is expected to reach $26.37 billion by 2026
- As many as 53% of businesses consider ERP and CRM as their priority investments
- The adoption rate of ERP software in mid-size companies is increased at a CAGR of 8.27%
Top Five Business Benefits of ERP Software
Be it a small-sized company or a large enterprise, the ERP solution with all the necessary features can take your company to a new level. Here are the top business benefits of ERP in your organization.
- All processes in one system
This is the biggest benefit of an ERP system. It can manage all the core processes of your company. You can integrate human resource, finance, and sales-related operations into one system. In a way, the ERP system acts as a reliable project management tool for your company. For example, if your sales team confirms an order, the ERP system can automatically generate statements to the finance department, inventory department, and purchasing department for replenishing the stock.
ERP development is a long-term investment. What makes ERP more attractive is many of its tools are open-source in nature and companies that do not want to invest much in ERP software can also get a solution with necessary features. Even startups can consider ERP integration because it is cost-effective.
ERP software can help companies reduce fixed capital while making working capital more productive. As all the processes are managed on a single tool, there is no need to train employees for different platforms. In a way, ERP software can save time and effort.
- CRM Advantage
Customer Relationship Management (CRM) is one of the most important tasks for modern businesses. Extensive paperwork can occupy your employees so much that they may not focus on customer relationships. The ERP system can handle administrative tasks and reduce paperwork to save your employees’ time. They can focus well on the customer’s problems and feedback. As a result, they can contribute to lead generation and conversion.
What’s more, as all tasks are performed on a single platform, your customers can get the necessary information quickly and you can establish real-time communication with them.
- Better Communication
Apart from real-time communication with customers, your employees can get benefit from improved internal communication with the help of an ERP solution. If employees cannot get connected with the management, their communication remains in the mails and as a result, the company has to suffer.
The ERP system facilitates and supports modern communication tools to assign tasks and improve collaboration. File sharing and group chats are also possible to manage projects more effectively.
- Enhanced Productivity
Last but not the least benefit! Every company has to meet deadlines to remain competitive and get more business. Now, mundane tasks like generating reports, downloading them, and sending as attachments take a lot of productive time, and companies may miss the deadline. The ERP solution development aims to accomplish all these processes in a single tool so that the productivity of employees is increased and they can have time to focus on critical processes.
ERP implementation can streamline the workflow and increase the company’s overall efficiency through improved information sharing. It also assists the management to reduce operational expenses and improve the efficiency of employees.
Every business needs a future-ready ERP system to ensure growth through higher productivity. Though many readymade ERP solutions are available in the market, it is better to build a customized ERP solution for your company from a reputed ERP software developer. All you need to take immediate action to give your company an edge over other companies.
At Suria International, our team of experienced developers can build a robust and reliable ERP for your company with all desired features at competitive rates. As a reputed ERP development company, we focus on all details while addressing your business needs through an ERP solution. Just send us your requirements at email@example.com and our expert consultants will get back to you soon.