What Is ERP and How Can It Help Your Business?

Unless you are fluent in speaking acronyms, you probably have not heard of ERP before. ERP stands for an Enterprise Resource Planning system. It might be just what your business needs to move on to the next level. It can definitely simplify things across the board, and it does not matter if it is a small business in a tiny town or a larger business in the city. ERP is definitely something you should be considering.


What Is Erp?

ERP refers to the available systems and software packages used today by companies of all sizes. The system can manage almost all day-to-day business activities. ERP can cover accounting, project management, and manufacturing. It is easy to see why it could be a key resource in managing your business. It can bring all of your company’s information into one system, allowing the flow of data to be shared and eliminating the unneeded duplication of managing several systems at once.

Maybe it is time to simplify the organization of your business thanks to NetSuite ERP. NetSuite currently has more than 30,000 organizations running their business on their cloud-based ERP system. By running your business from the cloud, it allows you to access your information anytime and anywhere. Best part about running from the cloud, there are no hardware costs, no software manual updates, and no maintenance costs. ERP could be a good investment.


What Does It Mean to Run from the Cloud?

Speaking of the “cloud” can leave some of the brightest people a bit confused. It appears more and more information is being stored in the cloud daily. But to simplify this cloud mystery, when things are being stored in the cloud, it just means that it is being stored on the internet. One of the major benefits of it being stored on the internet instead of your home or business computer is that is can be accessed anywhere in the world that there is an internet connection. Sort of the way that your email can be accessed through any internet connection, the ERP cloud is the same type of thing.


The Value of ERP

Collecting all of your business’s financials and other data in one place will save you headaches down the road. Least of all, there won’t be five different systems you would have to learn. The cloud-based ERP system is easy to use and will corral all of your departments’ data into one place. Below are just a few benefits to why you should be considering using ERP in the near future.

Businesses using a cloud-based ERP will have improved business insight. While accessing reports, everything will be up to date and in real time. The information that you entered last night or even an hour ago will be reflected in the data because it is all contained in one place. This is quite different than having to manually transfer the data from system to system.

Also, by using one cloud-based ERP system, there should be a bit of savings for your company. There will no longer be the need to purchase several systems to deal with all the avenues of your business. This will result in overall lower operational costs and a more streamlined business process.

Lastly, all the users of the ERP system in your company will be able to collaborate much better. Purchase orders will instantly be viewed by all. Current contracts will be easy to view and fill as a business. Requisitions are simple to keep track of. The improved efficiency by all through one integrated system will keep everybody on the same page. And remember, being able to access this information anywhere, especially while on delivery or out on the road, will ensure that the data is current and correct.