The impacts of Enterprise Resource Planning (ERP) have been remarkable and evident lately. Over the past decades, businesses varying from small to large size all enter in the digitalisation journey to be more streamlined, which urges them to adopt an ERP system. In 2021, it is no longer an unfamiliar thing to host one but still, an ERP system is definitely essential to remain sustainable development in the pandemic situation. In this article, we would draw out the top 5 reasons to purchase an ERP system for businesses today.
1. Effective Finance Control
From the end of 2019 up to now, all businesses have suffered bad effects of Covid-19 outbreak, many of them are on the verge of bankruptcy. ERP system has the ability to adapt to abrupt changes in this case, and flexibly maintain processes under efficient control and operation. Though Covid-19 has created continuous lockdowns, ERP software helps to anticipate those disruptions and propose strategies to adjust the current situation. By using Analytics, it could analyze the impacts of the changes for inventory or cash flow. Hence, based on accurate and real-time data, you just need to consider your budget and make informed decisions for your business to survive through the difficult time.
2. Easy Telecommuting Practice
As the pandemic hits, it has forced the whole business world to set up a new life with working from home practice. However, thanks to the advancement of technologies like the ERP system, it is not too hard to implement telecommuting even for companies with the least experience. ERP software provides Cloud ERP Solution that allows users to access and store data remotely with much ease. Whenever and wherever users are, they could simply enter the data center facility with any internet-connected devices to get the core documents and process on your working. Hence, there is no need of visiting the office in person but still able to collect all necessary business data.
3. Business Performance Improvement
In 2021, the pandemic a little weakens, all businesses must be going through a revolution in all processes to refresh and deliver more impressive performance. To empower businesses to operate smoothly, ERP system, as an integrated and flexible business management scheme, helps to centralize data and information across several subdivisions as well as optimize many bulky day-to-day tasks. Employees’ performances would be significantly improved as workload reduces, they could focus on important and crucial steps that need to be highly qualified. As so, this would lead to a greater boost in productivity and customer services.
4. Operational Cost Reduction
As ERP system integrates all business processes and data from different departments into one unified system, there will be a cut down on the operational cost as your company just needs to adopt one central program instead of various separate systems. Top managers will be able to set aside a huge amount of money and time which are supposed to be spent on systems’ training and maintenance. Additionally, since enterprises are switching their on-premise ERP software to the cloud, companies will not have to invest their resources in building and maintaining physical infrastructure. As a result, there will be one more spare expenditure for other projects.
5. Data Security
ERP solution provides an integrated platform where all data and information are assimilated. However, it also possesses restricted control and firewall to ensure network security and information leaking. A third party could never get access to your system successfully without your permission. Plus, your business’s HR or Admin could offer limited access rights for users if the data is marked out to specific parts of the company.
To encourage businesses to engage in the digitalization world, especially in the present epidemic of 2021, Singapore Government increases the support for Productivity Solution Grant (PSG) which offers to fund up to 80%. There are other available grants to minimize the net cash impact too such as Enterprise Development Grant (EDG).
If you are looking for an ERP system in 2021, contact our expert today to have a closer reference!