Benefits of ERP system
ERP is an acronym that stands for enterprise resource planning (ERP). It's a business process management software that manages and integrates a company's financials, supply chain, operations, commerce, reporting, manufacturing, and human resource activities. ERP are systems that support end-to-end processes and are critical to the efficient and successful execution and management of business activities.
Given the considerable impact that ERP systems have on operational efficiency (and, ultimately, profitability), businesses have spent large sums of money and effort over the past 40 years planning, implementing, and continuously improving enterprise ERP systems. Many studies have shown that investments in information technology (IT), particularly enterprise systems, have resulted in significant increases in
• Productivity, and
• Competitiveness of corporations
It removes the barriers to sharing information between functional areas and managing processes holistically.
The key driver for this productivity and efficiency is the ability of modern ERP systems to effectively manage a business process from beginning to end in an integrated, consistent, and highly efficient manner.
According to several experts and surveys, the primary motivation for firms to invest in ERP software solutions is the overarching benefit of integrating disparate business processes to simplify operations and enable speedier decision-making. Studies recently pointed out four key drivers, irrespective of company size:
1. Corporate growth
2. Improved customer service
3. Efficient distribution system
4. Reduced operational expenses
Corporate growth is the most compelling driver among all key drivers. According to the findings of the study, CEOs and other top management personnel have recognized that if the organization is to survive and grow, the ERP system is an effective tool that can provide better and faster information while also cutting costs to increase efficiency. However, SMEs' perspective on ERP systems is that SMEs are beginning to see significant improvements in financial processes and management, allowing for more effective operations management and resource management. The ERP system benefits can be classified into five benefit categories:
I. Operational Benefits
II. Managerial Benefits
III. Strategic Benefits
IV. IT infrastructure Benefits
V. Organizational Benefits
These ERP's benefits includes effective and correct information flow, an integrated information system, the real-time information is in use of the whole organization when it is entered into the system, financial management, transparency, and correctness.
While we talk about ERP, an ERP Level system, completely dynamic and integrable as a single software is also what we must aim for. Here at Nimble, we have,
1. Human Resource Management System (Nimble ERP)
2. Fixed Asset and Inventory Management Software
3. Task Management and Work from Home
4. DMS (Document Management System) and Process Flow
5. Banking Loan Automation System
6. Contract Management System
Aiming forward to an integrated ERP system, We as Nimbalians, working for more than 10 years on ERP systems in Nepal. We also found the following challenges in implementing international ERP systems,
1. Questioing the flexibility of ERP system
2. Complication in understanding the integration of ERP systems.
3. Customization Issues
4. Very few ERP experts
5. Hard to get correct and relevant information- few information available regarding ERP
6. Expensive for Small companies
Therefore, switch into national ERP level systems like us and secure your investments on change and technology.
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