Enterprise resource planning (ERP) software serves up big business management benefits. ERP lets businesses mange essential processes, as well as automate them. These management and automation benefits can improve efficiency and productivity while decreasing associated costs.

Areas ERP can be used in include:

• Human Resources

• Sales

• Marketing

• Product Development

• Manufacturing

• Data Collection

• And More

Enterprise resource planning software is an asset for both global companies and local businesses. In fact, ERP is proving to be quite valuable for small to medium sized businesses.

“Any business can get a real ROI from the use of an integrated ERP system if executed correctly,” OrgadGratch of Business.com explained. Small to businesses that use ERP can:

• Obtain real time data. When business owners have access to real time data, they can make on the spot decisions to improve productivity quickly. This equates to fixing issues to increase sales.

• Improve business transparency. A more transparent business means a more informed synergized organization. This also allows company wide sharing to increase all aspects of workflow.

• Increase productivity. Productivity is the bedrock to business growth and success. ERP can help bring products and services to the market faster, as well as promote them more efficiently for higher conversions.

Oracle and SAP have traditionally been the big players when it comes to enterprise resource planning. However, the emergence of other software companies has made ERP accessible to businesses large and small, in nearly every industry.

For instance, Infor CEO Charles Phillips left Oracle to build one of the largest ERP focused startups. Increasing Infor’s worth from nearly $2.5 billion to $10 billion in just six years.

“Their primary solution started with ERP and HR software,” Todd Aitken of CEOWORLD Magazine said. “Consistently, he grew the company to offer more niche solutions that can be tailored to many types of businesses. The approach has led to steady customer growth, taking business from the competition.”

Different Enterprise Resource Planning (ERP) Software Types

There are a few different ERP types your business can leverage. The type you choose often depends on specific management and automation needs. For instance, if your team is mainly remote, they need access to real time data on the go, making mobile ERP more valuable. The following are a few of the different ERP types.

• Mobile: Mobile ERP allows employees to access information while on the go. Since ERP serves up real time data, businesses can allow access to company dashboards to mobile teams anywhere in the world.

• Cloud: Cloud ERP is growing as cloud applications for businesses become mainstream. For example, Amazon Web Services (AWS) and SAP has been collaborating for years.

• Social: Social ERP is another growing area in the enterprise software solution space. There have been a number of businesses combining ERP with their social media, but it may depend on the specific needs of the business.

• Scalable: Scalable ERP, or two-tier, allows you to use certain solutions without the overwhelming all-encompassing approach ERP software once had. This allows you to scale as your business grows.

What Enterprise Resource Planning Can Do

Enterprise resource planning software can be tailored to meet specific needs. For this reason, ERP is often packaged and sold in module form. If you need to automate your product planning and development, you can purchase a specific module for that.

There are, however, more common modules. These ERP modules include:

• Pricing

• Supply Chain

• Distribution

• Big Data

• Project Planning

• Financials

• Business Assessment

• Human Resource

• Payroll

• Risk Management

As need or demand rises, ERP software will be developed to meet those needs. The software modules can also be integrated into CRM applications as well.

Why Enterprise Applications Are Essential

The reasons businesses both large and small implement ERP into the workflow vary. Mainly businesses are updating their ERP software or opting to replace their in-house systems with the software.

The 2017 Report on ERP Systems & Enterprise Software examined why businesses are implementing ERP software:

• 17 percent want to improve business performance

• 14 percent want to improve employee efficiency

• 14 percent want to ensure reporting compliance

• 13 percent want better multi-location systems

• 9 percent want to replace an older system

Manufacturing and distribution industries are still the biggest users of enterprise resource planning software. But the adoption by small businesses is becoming more prevalent.

Wrapping Up . . .

If you’re looking to adopt ERP to increase business efficiency and productivity, it couldn’t be a more exciting time. The enterprise solutions available today have become scalable while offering user-friendly interfaces, making integration easy. How will ERP reshape your business processes?