If you’re into business you’ve probably heard of ‘ERP’, but you’re not alone in not knowing what it is.
You may have heard someone talking about ERP software transforming their business or helping them streamline their processes but you may still be confused about what it is (or does).
Here’s a brief introduction to ERP and what it can do for your business.
What does ERP mean?
ERP stands for Enterprise Resource Planning, but that doesn’t really tell you anything about what it does. In short, ERP is business management software that lets your business integrate applications and automate business functions.
Typically a suite of integrated applications, ERP can be used to collect, store, manage and interpret data from different parts of your business, including operations, finance, HR, payroll and even sales and marketing. It brings all those things together to offer an integrated view of core business processes, in real-time. It facilitates information flow between the various departments of a business.
Because every business is different, ERP software can be customised, with a range of applications to suit your needs and processes. It’s all aimed at helping your business do what it does, better.
How does ERP software work?
All ERP software is not created equal, but most systems do share some common features. The one feature all ERP systems include is a shared database used by different business units. This common database allows different people across the business – whether in sales, accounting, HR or anywhere else – to access to the same information when making business decisions.
Increasingly, ERP software also offers automated reporting, giving businesses accurate information in real-time. This makes it easier to plan for the future and make good business decisions. But it’s not just about data – ERP systems also allow companies to automate processes and streamline functions, taking some of the boring, repetitive grunt work from employees. This is a positive for obvious reasons — it gives staff more time to do work which actually grows the business, and decreases the chance of human error.
It’s about giving people the tools to do their jobs as quickly and effectively as possible.
At Momentum we have been providing tailored ERP Software Solutions to bigger businesses for over 10 years. Contact us today to learn how you can take your business to the next level with MYOB’s ERP Systems: MYOB Advanced and MYOB Exo.