What is ERP and how can it improve Business Operations
In a forward-thinking time, flexibility and innovation are at the forefront of everyone’s mind.
Discover the essential reasons why businesses are growing in their need for technology and dedicating efforts to move solutions to the cloud. This overview will highlight the major reasons why businesses are choosing ERP systems to grow in efficiency, gain real-time visibility, and improve business operations.
How Can ERP Improve Business Operations? Every business is unique, but industry trends have shown that companies that benefit most from ERP systems encounter very similar setbacks. Read on to learn all about ERP, the reasons why businesses use it, and find out if ERP is right for your business.
What is an ERP system used for? ERP software integrates all functions and departments into a single system to streamline information, synchronize reporting and provide automation across the entire organization. It also enhances day-to-day business activities such as compliance, accounting, supply chain, procurement, manufacturing, project management and helps to plan, predict, budget, and report important financial results. ERP enables real-time business information to flow through many different business processes and provide a single version of the truth.
What kinds of businesses and industries use cloud technology?
Businesses of every size, vertical, and industry are altering the way they do business and utilizing the flexibility of ERP to keep up with ever-changing demands and requirements. The widespread growth of ERP exemplifies its immense importance to successful businesses. According to a report from Panorama Consulting, 95% of the companies that implemented an ERP system noted immediate business process improvement.
Major industries that benefit most from ERP Software:
NetSuite ERP vs Legacy On-Premise ERP Comparison: Learn the difference between cloud ERP and on-premise solutions. According to Forrester, “approximately half of ERP customers are on releases that are two versions behind the current release, which may be four or more years old or more.” It’s time to think beyond your disconnected, patched, bolted on, on-premise ERP system and look to the future!Why Businesses Choose Cloud ERP
• 95% of businesses who implemented ERP noted major improvements. Linchpin SEO
• 38% of IT Budgets will be dedicated to the cloud in 2022. Forbes
• 1/3 of company IT budgets go to cloud services. Bloomberg
• 53% of businesses are moving to an integrated ERP in 2021/2022. Finances Online
• Top industry using ERP software is Manufacturing. TEC
• By 2022, ERP software revenue will reach $47 billion. Linchpin SEO
How ERP helps businesses run efficiently
Enterprise Resource Planning is impacting the business world on a daily basis through improved business insights, increased levels of efficiency, larger levels of collaboration, and a substantial reduction in operational costs. ERP software helps business owners highlight business process improvements, analyze scenarios, unify processes, gain better visibility of employee productivity and streamline technology throughout the business.
“The ROI of cloud ERP can be achieved relatively quickly and this delivery model brings IT cost reductions and increased employee productivity to the broad range of the companies using it. Small and medium businesses can also achieve other important benefits from ERP in the cloud, such as increased inventory accuracy, better customer satisfaction and increased sales.” – Nucleus Research
10 Benefits of Cloud-Based ERP Software Solutions
ERP provides businesses the ability to:
1. Access business data from anywhere at any time: With ERP based in the cloud, real-time business information is available on any device on vacation, in the warehouse, or working from home.
2. Real-time information: Cloud ERP software updates immediately providing up-to-the-minute data across all departments.
3. Automatic Upgrades: All users are on the same version with up to date information and the latest technology.
4. Save on unnecessary expenses: All users are on the same version with up-to-date information and the latest technology.
5. Reduce manual processes: ERP offers the functionality your organization needs to improve efficiencies, reduce costs and get more done by eliminating time-consuming, error-prone manual processes and point solutions by automating and streamlining day-to-day accounting and financial operations.
6. Enhance business decisions: With a single version of business information, businesses are becoming more agile and competitive, and decision-makers are leading with strategic oversight, planning, and forecasting.
7. Meet the needs of your business: Cloud ERP is fluently tailored, configured, and customized to meet individual business needs that NetSuite customers can do themselves. NetSuite sustains a point-and-click, rapidly changing infrastructure of interfaces, roles, and reports, without the knowledge of complicated code.
8. Grow and scale with your business: Cloud ERP is a multi-tenant, modern, cloud-based application that grows and changes with your business.
9. Run your business on a single solution across all departments with your unique business requirements.
10. Shorter deployment times for a better return on investment.
What are the challenges of an ERP system?
A few of the most common challenges of an ERP system include software integration issues, a lack of internal resources, the ability to learn new software, and the expertise to manage costs. The most frequent challenge is selecting the right ERP software and implementation team. Selecting a new ERP system for your business is a difficult task without extensive research, software comparisons, detailed demonstrations and a partner that is invested in your success. How do you know which ERP is right for you? Check out our 5-step 360º ERP evaluation to help in your assessment process.
How to know if your business needs a software change:
Is your organization depending on basic accounting to operate your business? Are you relying on manual data entry? Is it difficult to receive accurate reporting and reliable business information in a timely manner? Is your technology holding you back? If you have answered yes to any of these questions, consider that a sign for an opportunity for change.
Managing, integrating, and maintaining multiple systems across the business can become extremely complex. Software upgrades and customizations often turn into expensive, time-consuming projects that compel businesses to run on outdated versions of their business software for longer than they should. Instead of bolting on another “solution” or creating more complexity to an ineffectual system, consider a change to cloud-based ERP.
Building a tailored ERP implementation plan can provide your business with a clear direction with benefits, costs, opportunities, and risks. Check out our guide for a successful ERP software implementation to help make your ERP transition smooth, cost-effective, and efficient to meet your individual business needs.
What ERP software is best for your business size?
How important is business size when researching ERP?
With so many companies promoting their own versions of ERP software, there isn’t a single system that fits best for all, it’s the features specific to these software selections that stand out most.
Small-businesses require a system that can preserve costs, have the ability to scale with as the business, and requires less need for technical resources. Learn why small businesses are selecting cloud ERP.
Mid-market businesses require a system that can integrate essential business functions, and scale with the software as the business expands. Learn why mid-size businesses are moving to cloud ERP.
Fast-growing businesses, regardless of the industry or size, require a system that is scalable by design and engineered for rapid growth. To achieve this adaptability, fast-growing companies turn to cloud ERP to streamline financial and business processes, allowing for sustained growth. Learn more about ERP for fast-growing businesses.
Enterprises require software that can sustain every aspect of the business in terms of capturing, processing, and interpreting data in high demand. Learn the benefits of cloud ERP for your business.
Say Goodbye to Spreadsheets – Learn The Benefits of NetSuite ERP With an integrated business system and complete visibility of your entire business in real-time, spreadsheets can no longer hold your business back. Reduce manual inconsistencies and time-wasting tasks. Learn how NetSuite, the leading cloud ERP solution, is changing businesses across the globe with a unified suite that includes accounting, HR, inventory, order management, CRM, and much more.
Protelo is a top-tier NetSuite partner fueled with NetSuite experts who understand your business.
Contact our NetSuite team today for:
• A customized demo from a NetSuite expert at Protelo.
• A personalized 14-day trial of NetSuite #ERP, if necessary.
• NetSuite pricing & a full project quote for your business (obligation-free).
Which ERP Deployment Model is Right For you?
True Cloud-based ERP:
• Accelerated time to value, see value from day one
• Non-technical, user-friendly configuration for the entire team
• Low involvement from IT
• Integrated data support
• Pay per month, per user
• Always up to date with the latest upgrades and features
• Safe, accessible and Secure business information
• Creates new opportunities for growth and scale
• Implementations and upgrades are expensive and lengthy
• IT resources are required
• Disconnected data framework
• Version lock
• Large investment with additional hardware costs
• Two-tier ERP with on-premise and cloud deployments
• Dependency of network servers
• Two versions of information
• Increased Downtime
• Compliance and security
• Complex Network connections
Hosted single tenant:
• Moderate implantation size
• Customizations are troublesome and take time
• Mandatory for IT resources to be involved
• Pay per month, per user
• Upgrades and customization are expensive
• Requires separate database for each tenant
• Integrations are limited
What are ERP Modules?
ERP Modules help to tailor the software to meet your direct business needs through data, processes and aid in providing employees the information they need quickly. ERP modules plug into the ERP system of operation providing a real-time view of business information. ERP modules allow the software to change and shift as the business changes, or requirements increase. Modules add functionality and extend the software further.
How to choose the right ERP for your business?
Selecting the right ERP system is a key element to your success. No matter the size, no matter the complexity, your business can significantly benefit from a fully integrated ERP system like NetSuite. NetSuite is transforming businesses with its fully integrated system that includes, ERP, CRM, financial management, accounting, inventory, eCommerce, and warehouse management. Leave behind outdated processes and move to the cloud for better visibility and cohesion across the entire organization.
NetSuite is #1 Cloud ERP for accounting, inventory management, human resources and customer relationship management, financials, ecommerce, and the solution to more than 29,000 customers. Fast-growing companies of all sizes and a wide range of industries are rapidly adopting cloud ERP systems to help fuel growth. ERP gives a global, real-time view of data, reporting, BI, and better visibility across the business. With an ERP system in place, accurate information helps businesses to make better decisions, lower costs, and enhances customer service.
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Take advantage of our flexible service offerings, and benefit from an in-depth knowledge of business applications that will ensure you get the solution, licenses, services, and support that’s right for you. For more information about NetSuite, a Free Product Tour, or NetSuite custom pricing, contact Protelo today!Why Protelo? Out of the many options your business has online, NetSuite customers choose to work with our expert NetSuite team because of the personalized business guidance and one-on-one support. Whatever industry or sector you are in, our highly skilled NetSuite team at Protelo understands your business challenges and the solutions you need to succeed. Our NetSuite team has assisted hundreds of small, midmarket and enterprise companies in achieving their business goals.