Enterprise Resource Planning: ERP refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and supply chain operations.

 

How a modern ERP system works?

Six key benefits of ERP:

Higher Productivity: - Streamline and automate your core business processes to help everyone in your organization do more with fewer resources.

Deeper Insights: - Eliminate information silos, gain a single source of truth, and get fast answers to mission-critical business questions.

Accelerated reporting: - Fast-track business and financial reporting and easily share results. Act on insights and improve performance in real time.

Lower Risk: - Maximize business visibility and control, ensure compliance with regulatory requirements, and predict and prevent risk.

Simple IT: - By using integrated ERP applications that share a database, you can simplify IT and give everyone an easier way to work.

Improved agility: - With efficient operations and ready access to real-time data, you can quickly identify and react to new opportunities.

 

 Goals for ERP Implementation:

·         Measure the Current Baseline.

·         Measure the Output of the ERP.

·         Continue to Improve and Hold the Gains.

·         Reduction in inventory is needed.

·         Savings in cost is must.

 Types of ERP by Implementation:

·        On-premise ERP: This is an ERP software which is deployed directly on your in-site devices. These systems are designed for businesses of all sizes though may be more appropriate for small and medium companies.

·        Open Source ERP: Like any open source software, this solution lets you inspect, modify, and enhance your ERP source code.

·        Cloud-Based ERP: Any ERP software-as-a-service (SaaS) which is available over a cloud-hosting service rather than on-premise deployment.

·        Hybrid ERP: Enterprise Resource Planning systems which blend on-premise and cloud-based deployment.

                                            

Cloud-based ERP provides greater risk management and data security

Benefits of ERP:

·         Workflow Visibility and streamlining.

·         Business intelligence and Data Analytics.

·         Scheduling Solutions.

·         Cross-Department Collaboration.

·         Risk Management and Data Security.

·         Customizable Solutions.