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Enterprise Resource Planning
Enterprise resource planning (ERP) is a suite of integrated systems that helps businesses manage and automate various back-office processes across different departments.
The basic goal of ERP is to streamline business processes, and enhance efficiency and flexibility through real-time access to data and analysis.
What is enterprise resource planning?
Enterprise resource planning is a business management system that integrates and centralizes various core business processes and functions across an organization. ERP systems are created to funnel and optimize operations and enhance efficiency.
The main objective of ERP is to foster the flow of information and improve communication between departments within an organization. The module of ERP includes finance, accounting, human resources, supply chain and many more.
What is the importance of enterprise resource planning?
Enterprise resource planning software offers a unified solution that integrates business processes across the organization. With a single interface, users can interact, share information, and collaborate across departments, which leads to better productivity, improved collaboration, and efficiency.
What are the types of enterprise resource planning?
The various types of enterprise resource planning are as follows:
- Industry-specific ERP: ERP solutions are designed for industries like, such as manufacturing, retail or healthcare, as these systems are customized to address the unique needs and processes of the industries.
- Tiered ERP: In large enterprises with divisions, a tiered ERP approach is used. ERP systems feed data to centralized ERP at the corporate level for consolidated reporting and analysis.
- Open-source ERP: Open-source ERP uses source code made available to the public, allowing users to tailor and modify the software according to the specific requirements. This type of ERP is considered as cost-effective and fosters community development.
- Small and medium enterprises ERP: These ERP solutions are specifically designed for small and medium enterprises, offering features and pricing suitable for their scale of operations.
- Cloud-based ERP: Cloud-based ERP is managed by a third party, and users access the system over the internet, which offers flexibility, and scalability and reduces the need for on-site IT infrastructure.
What are the benefits of enterprise resource planning?
The various benefits of enterprise resource planning are as follows:
- Improves reporting
- Effective decision making
- Scalability
- Business visibility and transparency
- Better supply chain management
What is enterprise resource planning software?
Enterprise resource planning software is a digital solution designed to streamline business operations by consolidating data and automating functions across an organization.
It supports enterprise resource management by offering tools for accounting, procurement, project management, and more, all within a single system. ERP software enhances productivity and enables real-time insights into business performance.
What are examples of enterprise resource planning software?
The examples of enterprise resource planning software are as follows:
- Oracle ERP Cloud
- Microsoft Dynamics 365
- NetSuite ERP
- Sage ERP
- Plex ERP
Employee pulse surveys:
These are short surveys that can be sent frequently to check what your employees think about an issue quickly. The survey comprises fewer questions (not more than 10) to get the information quickly. These can be administered at regular intervals (monthly/weekly/quarterly).
One-on-one meetings:
Having periodic, hour-long meetings for an informal chat with every team member is an excellent way to get a true sense of what’s happening with them. Since it is a safe and private conversation, it helps you get better details about an issue.
eNPS:
eNPS (employee Net Promoter score) is one of the simplest yet effective ways to assess your employee's opinion of your company. It includes one intriguing question that gauges loyalty. An example of eNPS questions include: How likely are you to recommend our company to others? Employees respond to the eNPS survey on a scale of 1-10, where 10 denotes they are ‘highly likely’ to recommend the company and 1 signifies they are ‘highly unlikely’ to recommend it.
Based on the responses, employees can be placed in three different categories:
- Promoters
Employees who have responded positively or agreed. - Detractors
Employees who have reacted negatively or disagreed. - Passives
Employees who have stayed neutral with their responses.
When should businesses implement enterprise resource planning systems?
Businesses typically implement enterprise resource planning systems when they experience growth, inefficiencies in processes, or outdated legacy systems.
Startups may adopt ERP early to scale efficiently, while larger companies might transition when operations become too complex for basic software or manual methods.
How does enterprise resource planning software work?
Enterprise resource planning software works by integrating various business functions into a single, unified system. It collects data from different departments and stores it in a centralized database.
This allows for real-time reporting, streamlined workflows, and automated tasks. ERP systems can be deployed on-premises or via cloud solutions, offering flexibility based on business needs.
