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What Is ERP Software & How Can It Increase Efficiency?

By Seth Rand
Business.com / Computers / Last Modified: February 22, 2017

ERP software can help your business better communicate goals, objectives and strategies. But what else can it do, and which to choose?

We’ve all heard the saying “time is money,” and that statement is more true today than ever for small business entrepreneurs who can’t afford to waste even a moment of time, or a single dollar.

Luckily, there is technology available that offers a multitude of opportunities to increase the efficiency of your business operations, along with the effectiveness of your workforce. When your business is operating at its maximum potential, you will have more time to invest in marketing your company and increasing your profitability.

The greatest benefit your company can gain from using ERP (Enterprise Resource Planning) Software is that, as a business owner, you can have the peace of mind knowing you have the tools to overcome day-to-day challenges of executing your business strategy – tools that will ensure that your business can continue to prosper and grow.

The automation of processes that come with the use of business productivity software allow for quicker communication of goals, objectives and strategies across all levels of your business, allowing for more time to spend on key priorities. ERP software can also greatly improve the ease and efficiency that comes with using e-commerce websites that are built on platforms such as Magento.

Some additional benefits that software can have on optimizing results within your business processes include:

Monitor Employee Progress 

Business productivity software solutions allow supervisors and other managers to easily track the progress of every phase of a project to ensure benchmarks are being met. Being able to track a project step-by-step allows management to be aware of when an employee needs additional coaching or reinforcement to ensure that a project that gets off track can still be delivered on time.

Related Article: Help Desk Software: Which Solution Is Best for SMBs?

Keep Team Members On the Same Page

Creating team sites and employee portals can help all of your team members work together productively across your organization, no matter where your employees are located or if they are parts of different departments of your organization that need to come together to complete a particular project.

By ensuring that all of your team members are on the same page, you will eliminate obstacles that can cut off communication. ERP software creates the ability for all the project’s team members to reach out to others within the organization and give them additional help or insight, or reach out to other “experts” in the organization to find answers to their questions.

Related Article: Configure, Price and Quote: CPQ Software Is Changing the Sales Game for Good

Fosters Communication and Problem Solving

When a company places information regarding performance appraisal within an online framework that is accessible by all that may need that information, managers can communicate the company’s business strategy with ease; and, in addition, can create measurable goals that support the company’s overall objectives, and make that information available to all team members.

Having this information available in a centralized location allows for a more open environment and allows for greater visibility. This will enable employees to understand the larger vision and therefore have a better understanding of how the goals of an individual employee or team fit into the company’s overall business objectives. This creates synergy, as well as engaged employees, which will increase productivity across the company. 

Analyze Business Performance With Greater Ease

The software available to today’s businesses allows for advanced reporting options and business analysis capabilities that can help business owners gain a better understanding of how your business is performing, market trends, and the preferences of your customers.

By accessing analytical reports and performance metrics, you and your management team can work together to tweak strategies that aren’t currently working, and to come up with new strategies. ERP software can also play a vital role in inventory management, tying together key metrics across your organization.

How Do You Find the Best Solution?

ERP software doesn’t come in a “one size fits all” solution. ERP software comes in a variety of types that are tailored specifically for certain functions or industries. This includes software for functions such as accounting and customer relationship management (CRM), and industries such as manufacturing and healthcare.

The term enterprise planning software was introduced to describe a broader system that integrated a variety of applications, such as those mentioned above. Many business owners are familiar with ERP software such as the Microsoft Dynamics family of platforms, Sage, SAP, and Exact, but there are a multitude of other, lesser known options that might prove to be better suited to your industry, or are more geared towards the functionality you’re seeking.

It is important to thoroughly research your options before deciding what software is best for you and your business.

Examples of ERP Software

AbbaDox

AbbaDox is a healthcare IT platform designed by IDS that provides responsive and intelligent applications that help healthcare operations run smoothly and more efficiently.

AbbaDox’s customizable workflow solutions are designed and built using an IT ecosystem with modular “building block” applications. These applications can interface with other information systems including proprietary software and mobile devices.

SAP

SAP is an ERP that incorporates the key business functions of an organization. It helps businesses keep the damaging effects of complexity at bay, generate new opportunities for growth and innovation, and helps your business stay relevant and competitive in today’s competitive business atmosphere.

SAP provides real time information across a company that reduces the possibility of redundancy across teams, which helps create a more efficient work environment for employees.

Microsoft Dynamics 

Microsoft Dynamics is a family of business solution softwares that bring together data, business applications, documents, and devices that help employees make the most of their time.

This software allows you to automate functions within your business, which ultimately helps enhance collaboration and increase sales. Versions include Great Plains (GP), Navision (NAV), and Axapta (AX.

Saleswarp

Saleswarp is an Omnichannel Commerce Management System that is specifically designed to help retailers manage all of their operations in one place. This makes it easier to get a company’s products to the market quickly, helps increase sales across all channels, and improve operations, all while reducing costs.

By eliminating complexity, costs, and risks, Saleswarp helps maximize resources and delivers a greater return on investment by integrating, consolidating, and automating processes and systems across a company’s departments.

The ERP software solutions mentioned above represents only a small sampling of the software available. No matter what your business goals are, ERP software will ultimately help you and your business run as efficiently as possible, both from a cost and time management perspective. If you haven’t invested in this type of technology yet, you are missing out on a great opportunity to not only make your life and the lives of your employees better, but will also help your business prosper and grow.

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