By the year 2020, the market for global enterprise resource planning (ERP) solutions is expected to reach $ 41.69 billion according to ERP Software Market Report. Why is ERP software development so popular among businesses today?
There are numerous processes that any enterprise runs on a day-to-day basis: customer relationship management, sales enablement, risk management, reporting, data analytics, production management, and so on. So, there is a strong need for software that will automate these processes and thus improve and speed up all the company’s activities.
Although ERP tech has always been associated with something expensive and difficult to use and maintain, experience shows that enterprises with an ERP system are far ahead of the competition. Let’s consider the main reasons why any enterprise needs an advanced ERP system.
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Cost Savings
There is no doubt that it is much cheaper to buy an entire system than spend money on every module separately. Having a system, the only source of accurate information allows reducing administrative and operational expenses, helps to prevent delays and disruptions, and ensures effective management.
Improved Collaboration
ERP systems streamline the collaboration between departments and employees, providing realtime access to all the necessary information from a centralized source whenever they need it.
Productivity
With an enterprise resource planning system, you save time and money and increase productivity: since routine duties are automated, users switch to more important and urgent tasks.
Compliance
For the majority of enterprises, compliance is the most crucial benefit. An ERP software development strategy ensures compliance with all industry standards and regulations, as well as promptly tracks any changes.
Data Security
The complete security of all the data within an enterprise resource planning technique is one of its most significant advantages. A considerable number of users continuously work with large volumes of heterogeneous data.
It might seem that complete information security is impossible, but not with an ERP system. ERPs have built-in tools that ensure data security and provide full control over the users who can view and edit information. Another vital feature is the possibility of backing up all the confidential data.
Accurate Forecasting
ERP software development provides its users with effective tools for making accurate forecasts. Since all the data within the system is accurate and up-to-date, enterprises make more reliable estimates and effective forecasts.
Better Customer Service
Customers can also benefit from ERP techniques. More accurate and faster access to customer data allows sales departments to build and maintain lasting relationships with their clients rather than waste time looking through spreadsheets.
Simplified Scalability
In order to introduce an ERP system in a company, it is necessary to understand and be able to describe the working processes and the way the system manages them. The company can scale with relative ease while having a tool that helps to work efficiently.
ERP systems are able to adapt to any change without putting the existing processes at risk: when you enter new markets and expand your client base or when a new employee or even an entire department starts using the system.
Conclusion
ERP software development is undoubtedly a considerable advantage for businesses. For most enterprises, ERP technology is the key to success and is definitely worth the money and time investments. However, it should not be taken as an overall panacea – still, there are issues that software cannot solve, and they need to be dealt with on a different level.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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