Companies are always looking for solutions to run more efficiently and operate profitably. Cloud ERP is a powerful business tool for companies. To understand how powerful Cloud ERP is, it is necessary to take a deeper look and understand what ERP really is and what it does. ERP is an acronym for Enterprise Resource Planning.
The purpose of ERP is to integrate many business processes into one, streamlining company operations across an entire organization. One shared database can service many different company systems including human resources, accounting, payroll, finance, distribution, manufacturing, CRM, sales, customer service and more. It is essentially the implementation of business automation.
The term ERP was first used by Gartner, Inc., an IT consultancy firm in the 90s. During ERPs early days it was used mainly in inventory management in the manufacturing industry. It soon expanded to include software programs to integrate other business functions, such as finance, accounting, human resources and customer relationship management (CRM), into a real-time internet enabled software program.
ERP systems have come a long way since the early days. Today’s ERP systems are advanced to the point of being available remotely through web-based access, even on mobile devices and applications. ERP solutions can now offer all the functionality companies need to securely run a business and all its multiple systems through the flexibility of the cloud. A company can trust its data is secure with 24/7 cloud cybersecurity protection, including security software updates, monitoring and multi-layered protection.
Through integrating software for different company departments into one shared database, data and reports are available through one system to analyze and make decisions. Key performance metrics are available to all the company’s key decision makers, simplifying company functions and the day-to-day running of a business.
There are many benefits to Cloud ERP solutions including:
- Integrating core functions to one company database
- Real-time view of data and transactions as they occur
- Helps with regulatory and financial compliance standards
- Automates many company functions such as ordering, billing, sales trends, etc.
- Improves customer service by tracking CRM metrics such as billing and relationship tracking