ERP Software Handles More Than Financials And Assets


When it comes to ERP software, people often mistakenly see it as a system for managing a company's financials and assets in a unified framework. However, that's not close to the entire truth when it comes to ERP systems. An ERP consulting services provider will encourage you to look at its other aspects, such as these four.

Business Processes 

ERP software allows you to translate company-wide processes into something more understandable. A good ERP system can help you tie processes to specific departments, people, and assets. If you want to see how well a particular process is performing, the software will produce appropriate reports.

You also can examine how various business processes would likely work if you configured them differently. This allows you to maximize efficiency and organize new processes. Especially if you're auditing the company's work, expanding, or reorganizing, the software can make a big difference.


Tying things together is critical to the ERP model. When you're going through the ERP software selection process, you want to find a system that maximizes interconnectivity. This means connecting everything from ordering and receivables to shipping and accounting.

ERP software can tell you the state of every asset and process at any given moment, too. If you're trying to figure out how soon an order can convert back to cash to reinvest in your business, for example, this interconnected approach will make it easier. The system will feed the data from one part of your enterprise to the next so you will have a snapshot at any moment of what your company's operating disposition is.


Businesses often have to comply with regulatory requirements. These frequently cross jurisdictions, including international ones. Tracking which activities comply with certain regulations is an important job. However, ERP software can identify which regulatory regimes apply to specific business processes so you can avoid problems. If you need to comply with EU rules for the proper use of pallets, for example, you can feed that into the system so it will become part of the process.

Efficiency and Maintenance

With a role in so many processes, ERP software allows companies to improve efficiency. You can identify which processes are struggling or thriving. Likewise, you can see how things have changed over time. If the system flags a declining asset's inefficiency, you can either pull it from the production line for maintenance or replace it. You also can produce reports to explain to stakeholders why certain decisions are necessary.


6 July 2022

Improving Your Company

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