An Enterprise Resource Planning (ERP) solution is business management software that supports digital transformation by integrating many critical processes of an enterprise, enabling the flow of data between departments and digital communication with vendors, 3PLs, sales channels, and customers.
An ERP solution allows organizations to streamline, automate, and improve business processes which lead to reduced costs, improved productivity and operational efficiencies, and significant time savings.
Data from departments like accounting, sales, procurement, project management, human resources, manufacturing, customer relationship management, and other areas of a business become increasingly visible across the organization, allowing for an omnichannel approach when responding to customer demand.
ERP solutions are considered integral to countless businesses across many different industries, often replacing Quickbooks, Excel, and manual paper processes.
Many businesses have legacy processes in place that don’t support the growth or scaling of their business. These manual or disparate processes store information separately across many different operating areas, causing data redundancy or allowing for contradicting data to exist across systems.
Without a way to share data automatically between departments, creating a single source of truth, business leaders have no way to get an accurate bird’s-eye view of how their business is performing.
Enterprises experiencing these types of issues are prime candidates to benefit most from an ERP solution. The versatile nature of this software means that it can be adapted to most any industry’s needs, like manufacturing, professional services, industrial services, healthcare, construction, and distribution, amongst others.
Regardless of the industry an ERP solution is applied to, there are numerous benefits.
Cost and Time Savings: Experience lower operational, admin, and management costs through defined, integrated, and streamlined business processes. Save time and effort by automating data exchange, manage your inventory to avoid over and under stocking, consolidate customer information from multiple sources, and more.
Learn More: How Third Wave Helps You Understand the Costs Upfront When Investing in ERP Software
Speed Up Data Exchange: Automation allows for an increase in the speed of data exchange between departments. For example, SAP automation tools can send automatic updates to financials based on sales and purchasing activity. Core business operations like order-to-cash and purchase-to-pay are automated, improving the speed and efficiency of your workforce and increasing your customer satisfaction.
Data Integrity: When all operational information is managed within a single database redundancy of data across disparate systems is eliminated. Changes to that data are: controlled by the rules configured in the ERP business layer; protected by centralized security settings; and logged, providing an audit trail of all system activity. The ERP then becomes the single, shared source of truth for the business.
Increase Business Agility: Access to a transparent set of data across the business enables quicker and more effective decision-making. Companies can better adapt to market forces and avoid disruption with increased flexibility.
Improved Business Insights and Reporting: Because ERP solutions build a database shared between departments, staff can pull reports from a single system. Dashboards allow employees to quickly gauge and understand how the business is performing by looking at key metrics from across the entire business.
The advantages of implementing an ERP solution combine to enable enterprises to better manage numerous disparate areas of their business.
Many businesses processes can be managed with an ERP solution, including but not limited to:
Equipping your organization with an ERP solution enables you to automate your business processes, gain a comprehensive view of your organization’s performance to make smarter decisions faster, and ultimately increase profitability by becoming a more efficient, productive, and agile enterprise ready to take on new market challenges.
Third Wave Business Systems helps businesses streamline and better manage their operations by integrating the leading ERP solution, SAP Business One, into their operations. As North America’s longest-standing SAP Business One partner, Third Wave will be with you every step of the way as your business grows, starting with implementation. Our passion and expertise ensure clients receive the guidance and creative problem solving needed for success, now and in the future.
To learn more about how your business can benefit from implementing an ERP solution for small and medium-sized businesses (SMBs), complete the form provided on this page to contact an ERP solutions expert.