Getting acquainted with the acronym, ERP

Enterprise Resource Planning is better known to the world as an abbreviation called “ERP”. ERP is a mode that assimilates the entire data and processes of a business, consisting of the hardware and software into a distinct unified database system. ERP is getting into play because it is quite comprehensive and also it is being deployed in almost all companies whether big or small. ERP has its application enveloping all areas like:-
  • Human Resources
  • Manufacturing
  • Supply Chain Managements
  • Customer Relations Management
  • Financials
  • Warehouse Management functions queued by many more.
Integration is the underlying principle to ERP. Its core aim is to amalgamate data and processes from all areas of an organization and merge it into an easily preserved and restructured database for an easy access and work course. An idyllic system encloses data for all software modules by exercising a solo database. ERP implementation is not a trouble-free and speedy task. It’s quite intricate and may take around four months to even a year’s time for implementing an ERP in a bigger organization. Its implementation necessitates noteworthy transformation in staff and work practices.

How does ERP elevate you on the success scale?

Following reasons actually puts up the businesses on the raised end of the teeter board:-
  • It establishes competence and progress, of its business processes.
  • Superior enterprise software assists in attaining precision and accessibility of data across all business functions.
  • It furnishes accurate information at the correct time to the right people for effectual decision making.
  • Results in positive outcome and augments productivity.
  • Facilitates in optimizing human resource management and asset management.
  • It also perks up financial management. For instance:-Trail balance, balance sheet, and other such important reports can be readily available at any point of time.
  • Aids in accomplishing enhanced effectiveness in organization reporting.
  • ERP streamlines the supply chain management and develops customer relationship management.
  • This software guarantees data security and data scalability.
  • Customized ERP A Double Bonanza to the Organizations.

Organizations can customize the enterprise software according to their specific requirements. It approves of the systems that address altering technologies thereby better ROI (return on investment). Organizations can amplify turnover with the same work force. ERP is not only for IT department but in fact it covers all the departments as all are benefitted with its advantages.

Apt training gives superior output from the new system while on the other hand deficiency of apposite training to user results in erroneous entry and generates problem. Top management should understand the call for detailed user training, because it is the end-user who makes use of this ERP.

How ERP has contributed to the overall success of the businesses in general?

ERP has a lot of say in the overall development of the business. Its meaning cannot be limitedly deciphered as just computer software.

It has revolutionized the way businesses were carried out in India. Increased number of organizations and industries are operating with it at present. Organizational performances have been significantly enhanced by the use of software applications like ERP that comprises of resource planning, management control, and operational control. It has fetched “core competence theory” into many businesses.

New-fangled prospects have emerged for many companies to operate with foreign counter parts in the name of outsourcing, performance and deployment of the existing ones. Along with that it has put in a new chapter of growth to any economy. Undoubtedly this software that has huge scope for development and immense prospects in future.
ERP is the new revolution that is going to change the face of the working of the 21st century businesses sure shot. A boon to reckon with for the times to come.