ERP systems have become one of the most sought-after modules across the globe. It’s considered one of the safest and most effective ways to run a business. Not sure what it is? An ERP system stands for Enterprise Resource Planning and it helps varies different departments in the company. Ranging from accounting to manufacturing to supply chain management, sales, marketing and human resources. It automates business processes and provides cloud-based data and mobile accessibility.
Most businesses have various different stakeholders with different responsibilities. An ERP system helps retain information in a system that can be accessed in a central database and includes up-to-date information at all times. But, there are usually some misconceptions that surround ERP systems, here are 5 myths that we have debunked:
Myth #1: ERP systems are suited only for large sized businesses
Fact: These systems are designed for your company, no matter the size. It’s suitable forcompanies across every industry with diverse business models. Some ways businesses can use an ERP systems is:
- Accounting department: track and report all transactions and other financial information in one system.
- Sales and marketing: increase the productivity and retain better results of your sales and marketing team.
- Human resources: track employee information and better allocate staff information.
Myth #2: Cloud based ERP systems are less secure
Fact: Most companies are moving their solutions to a cloud based system due to the various levels of security that is put in place to ensure data protection. Using a cloud-based system helps all departments in the company have access to real-time data that can be used to benefit processes and workflows.
Myth #3: Moving to a cloud means you don’t own your data
Fact: You’ll always have access to your data and you will always own your data. Every enterprise is responsibility for protecting its data.
Myth #4: There’s no reason to move to the cloud, it’s a thing of the future.
Fact: Understanding your pain points is the first step. A cloud based systems can help you mitigate your company issues and make necessary changes. A cloud could be the right migration from on-premise to the cloud.
Myth #5: An ERP system can’t improve my business
Fact: There’s many ways that an ERP system can improve a business from spotting problems to managing cash flow. Employees are capable of spotting problems in an easier manner and can proactively mitigate the issues. Executives can increase efficiency, reduce costs and continue to learn more about their market.
Some other ways that an ERP system can help improve your company is by:
- Being able to access the data from anywhere. No matter if you’re in an airplane or on the shop floor, you can access the data on your phone and easily check inventory, sales,files or databases.
- Information will always be up-to-date. The system is always updated immediately as payments are made, emails or sent or inventory is added or reduced. This provides quick decision making and up-to-date data.
- Companies across every industry have benefits that come with an ERP system. It’s flexible and has extensive functionality can cater to a wide variety of organizations.
Interested in learning more? Connect with us today to see how an ERP system can give you a single place to store, view, manage and learn data.