ERP systems – are you clear on the benefits?

Posted on 14 Oct 2015 by The Manufacturer

Ahead of Connect ERP in November, explore the benefits of having an ERP system.

For those that don’t know, enterprise resource planning (ERP) is the process of collecting; storing; managing, and interpreting data from different business activities.

An effective ERP system needs to be robust, flexible and agile enough to integrate all areas of a business’ operation so that every function utilises a single database.

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Investing in the right ERP system isn’t something to be taken lightly, so make sure you don’t get lost in the maze.

Investing in the right ERP system is crucial to your organisation’s success, picking the wrong software can have serious repercussions, costing you not only time and money, but efficiency and most importantly, production.

As one of the most expensive purchases your business will make, implementing – or upgrading – your ERP project isn’t something to be taken lightly, with projects lasting anything from 12 – 18 months.

Background research on the vendor landscape, product capability and average cost is critical before a commitment to purchasing anything.

Key considerations before implementing ERP software:

  1. UsabilityWhat type of training will be required to use the product? How long will it take to understand how the software works? How will the system be used, both now and into the future?
  1. TechnologyHow well will the new system integrate with your current set-up? Will you need to improve your current software? What’s the predicted shelf life?
  1. Budget How much money can you afford to spend? Will there be any maintenance fees, if so what will they be? And can you afford them?

All these considerations have to be taken into account to give your ERP project the best chance of success.

Top four benefits of having an ERP system:

Different systems have different functions and capabilities, but a good ERP system should be tailored to your company’s needs, cost effective and deliver accurate, real-time information on business activities.

  1. Decreased costs ERP systems allow you to effectively manage operations, prevent disruptions and delays helping you to reduce your administrative and operational costs.
  1. Increased efficiency With an ERP system you can streamline your business processes. Making it easier and more efficient to carry out day to day business operations and reducing the need to enter information manually.
  1. Real time information ERP software enables you to access real-time accurate data in a single location. Removing the need to look through multiple spreadsheets that contain out-of-date information.
  1. Reporting – ERP software makes reporting and analysis easier. With built in reporting features you can make better informed business decisions on inventory and production.

With pressure on businesses to increase efficiency and streamline processes, procuring the correct ERP system is a decision you cannot afford to get wrong.

Connect ERP blends together a unique combination of case studies, peer-to-peer networking and pre-briefed and scheduled vendor meetings.

Connect ERP will maximise your opportunity to fine tune your short listing process with unrestricted exposure to both peers and the vendor community.

Make sure you make the right choice first time and attend the event on March 10 to kick start your shortlisting process.

Connect ERP provides:

  • Pre-purchase evaluation and vendor assessment
  • Strategies for implementation and project role out including technical capability and site needs
  • Practical, expert advice to manage change across the business and gain stakeholder buy-in
  • Information on how to quantify benefit analysis and ROI from the project outset

Request an invitation today