What Is ERP Software—And Who Should Use It?
Accounting professionals in the modern commercial world are much more than number crunchers. They’re vital influencers for crucial business decisions that affect entire organizations. As a financial professional in a growing enterprise, you’re likely to be responsible for resource management, for basic fiscal tracking, and for compiling market forecasts, inventory management, and complex reporting.
Many small businesses must settle for outdated technology, equipment, and software, expanding only once it’s safely feasible and the budget allows. However, adopting enterprise resource planning (ERP) early can offer a fabulous return on investment for the savvy chief financial officer or controller.
How Does ERP Work?
ERP software is business management software that one uses to manage company data. Most ERP systems, including Sage ERP and Acumatica, feature a suite of applications integrated into an easy-to-use platform. ERP software collects, stores, manages, and interprets data from various aspects of the business and makes it malleable in a much more intuitive format than traditional spreadsheets and other clunky accounting software alternatives.
A valuable ERP platform integrates several crucial processes and functions into a single application. Although most modern businesspeople might balk at the thought of learning new software after having grown accustomed to their legacy systems, the Acumatica cloud ERP system was designed to be intuitive and work well with other applications you likely use, such as Microsoft Outlook. Deployment is a much simpler process with platforms like the new Acumatica 6, which was designed from the drawing board with usability and flexibility in mind.
Most small businesses rely on simplified processes for product planning, purchasing, ordering, billing, and employee data, and once the company expands, they’ll invest in more-detailed systems. The great thing about ERP software is that it not only saves your company time, but it also frees up your employees to tackle business-driving tasks and affords you a wealth of new capabilities for compiling data into more complex and useful reports.
Who Needs ERP?
Small to medium sized businesses rely on ERP platforms, such as Sage ERP and Acumatica ERP. If you are responsible for your company’s financial data, then exploring an ERP system may be a good fit? It’s important to consider the potential return on investment that ERP software could have for your organization. ERP software presents a vast array of opportunities to expand your company’s scope in new ways that you may not have considered. Cloud-based ERP platforms will typically yield an even higher ROI, as you won’t have to pay for an onsite hardware installation; you simply pay for the cost of service.
ERP software provides a more holistic view of your company data in real time, clearly shows financial professionals pain points, and highlights areas of the company that need the most attention. It’s far easier to drive a company forward when you’re secure in the knowledge that your data is accurately collated and available for use in several ways.
How Can ERP Help?
It’s frustrating for the customer and embarrassing for your company if the people in your organization don’t appear to be on the same page and inundate the customer with repeated introductory messages after they’ve been doing business with you for some time. The right ERP software can make it much easier for everyone in your organization to stay synced and informed about crucial developments in your industry and to your customer base.
ERP is a wonderful way to cut time spent on administrative tasks such as data entry and basic report generation. Not only will the investment afford you a great deal of freed up resources and manpower, but you’ll also have a host of new capabilities that can benefit of your company. Compile more comprehensive reports and create accurate forecasts for your enterprise and your industry. The agility and flexibility that ERP systems afford are invaluable assets that will clearly showcase their value and ROI in a short time.
Written by Kayley Bell, Chief Operating Officer at DSD Business Systems