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A Simple Guide to Enterprise Resource Planning

Do you know the number one reason why projects fail and go over budget? Lack of clear communication is the culprit, according to 86% of employees.

They should know. They’re the ones on the ground taking care of the day-to-day tasks. Managers and business owners are scrambling to find solutions to a big and costly problem.

A Simple Guide to Enterprise Resource Planning

If you find yourself in a similar position, you can implement enterprise resource planning in your business. Read on to learn what it is, why it’s useful, and how to find the right solution for your business.

What Is Enterprise Resource Planning?

Enterprise resource planning (ERP) is a software solution that helps large organizations centralize processes, operations, HR, finance, and manage the entire supply chain.

In many organizations, once you have different departments managing different aspects of the business, they operate in silos. ERP keeps everything related to your business in one centralized place.

That gives your team to operate as a team, instead of a department.

For start-up organizations, it’s good to have these systems in place at the beginning and grow into them. That prevents you and your employees from getting into the habit of operating in silos.

It’s much more difficult to make the shift in a big organization than it is to create change in a small organization.

Benefits of ERP

Why should you invest in ERP? For starters, just about every type of business can benefit from ERP. An eCommerce business can manage supply chain issues, manufacturers can manage efficiency.

The majority of businesses that close do so because of cash flow issues. ERP keeps all of your financial reports in one place, so you know exactly what your financial picture is.

ERP also gives you better reporting. Since everything is in one place, you can see your business in a singular dashboard as opposed to running several different systems.

Tips to Find an ERP Solution

In order to make ERP for your business, you need to find the right solution for it. You should look at an ERP’s cost, the return on investment, and the features of the program.

One important thing that you shouldn’t overlook is the number of integrations a particular solution has. That will make migrating much easier.

What happened if your business needs change or you outgrow your ERP? You can always upgrade solutions. It’s not the easiest thing to do, but there are resources that will help you manage migrations and upgrades.

This article at tomerlin-erp.com says that to seamlessly upgrade your Epicor system, you should take a three-step approach to it.

Make Your Business More Efficient

If there’s one thing that can take down your business, it’s costly mistakes. You can minimize those mistakes by anticipating them and having systems in place to manage them.

That’s what enterprise resource planning can do for your business. You rely on one system to improve communication and efficiency between departments. That limits the number of errors and raises productivity.

Do you need ideas for your business? Check out the Startup Ideas section of this site.

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