Over the past few years, companies have jumped on the bandwagon to purchase an ERP system. They have been able to reap the real business benefits of their purchase in leaps and bounds over and above what they would normally experience without an ERP system in place. In a weak economy where it is a struggle to increase revenues and cut costs, ERP systems are more important now than they ever were before.
Most ERP systems deliver benefits to a business by improving financial and accounting processes, allowing fewer mistakes to occur. However, functions that include ordering, supply management, inventory, and payroll are also included in ERP systems to improve enterprise-wide management. By streamlining these processes, companies can access accurate, up-to-date information for a complete view of their entire business.
Once you have purchased your ERP system, you do not have to worry that you will be stuck with with outdated features. The ever-changing nature of technology means that businesses can get almost constant upgrades and improvements to their ERP system. This will allow you to pick and choose which upgrades you feel would be best suited for your company based on what needs you may have at the time. If no new needs have sprung up since you first implemented the solution, then you are free to stay with the ERP system you already have. If you choose not to make any upgrades, you won’t have to worry about losing anything from your current package.
A few years ago, a survey of business owners was conducted to see what their needs were and what changes could be made to their ERP systems. Over 85% of those surveyed said that their company could not function as well without their ERP system in place. An overwhelming fifty-four percent said that they would not change their ERP system and that they were satisfied with what their company currently had.
These numbers show the positive impact businesses experience with their ERP systems. Being able to stay at the top of in an industry is extremely important in today’s business world. By using the latest technology, such as the ERP systems currently offered on the market, you will have an advantage over those who have chosen not to purchase one.
One business owner in the survey mentioned above said that they run their entire business based on their ERP system and that they could not function without it. Such a statement shows how much some business owners value their ERP systems. Knowing what benefits can be reaped from ERP systems can make implementing one within your organization an easy business decision to make.