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What is Enterprise Resource Planning (ERP)
To put it as simply as possible, Enterprise Resource Planning System (ERP System) increases the efficiency of a company. It ties multiple wings of a business in one complete system and streamlines the processes and information among the staff. Enterprise Resource Planning, or ERP system, integrates the data from the different parts of a company into one database and makes it possible to monitor every aspect of the business easily as well as supply the employees with accurate information and resources. Companies, small and large, are incorporating Enterprise Resource Planning in their organizational structures to great effect.
With the advent of cloud-based Enterprise Resource Planning systems, ERP is now far less expensive and way more affordable. It can be said without a doubt that a wide range of industries can use an ERP system to enhance performance and production. It does not only integrate data from multiple sources but also works in favor of Business Intelligence.
The platform for ERP was set way back in the past by the incorporation of MRP or Material Requirements Planning. This was a system that was used to monitor inventory and to schedule production processes. Today, Enterprise Resource Planning systems cover Business Intelligence and Analytics as well as front office operations like sales force automation, marketing automation, and eCommerce. The use of Cloud ERP in Singapore has, too, become more prevalent across different industries.
There are three basic changes that ERP system can bring in a big or growing company; all these definitely work toward the betterment of productivity. Let us look into those areas.
These benefits give us a clear enough impression that an Enterprise Resource Planning system can be a strong helping hand to any industry for the problems it solves, are more or less the same across different industries.
It is now apparent why it was predicted that the use of ERP would increase at an annual rate of 21%. ERP continues to gain popularity in industries ranging from Marine Engineering to Rental Services while covering industries like Construction, Healthcare, Trading and Distribution, Manufacturing and more.