An In-depth Look at ERP Software for Your Business

Modern businesses function effectively only because they have several processes running together to streamline operations. These processes include HR management, accounting, inventory management, client management, and so on. Unsurprisingly, the day-to-day running of a business can become quite chaotic and complicated. An ERP software is a very useful tool that can help handle most of the load and ensure your business keeps running smoothly.

What is an ERP System?

ERP stands for Enterprise Resource Planning software and it is essentially the central hub of a business that manages everything from clients to suppliers. It collects, organizes, stores, and processes data from different aspects of a business and ensures everything is easily accessible to the employees and key players of the company.

A good ERP system keeps your business running smoothly and automates several processes to keep things streamlined. Until recently, enterprise resource planning systems were only accessible to large enterprises with big budgets. Fortunately, cloud computing technology has changed this. Today, even small and mid-sized businesses with tight budgets can benefit from the ERP system. This system is offered as a SaaS program and the majority of the storage and processing power comes from the cloud. If you haven’t invested in the ERP system, now is a good time to get on the bandwagon.

What Does an ERP System Do?

Most people don’t invest in ERPs because they’re not familiar with the platform and don’t understand how much their business can benefit from it. Here’s an in-depth look at what such a system can do:

• HR – ERP can manage all of your HR processes and data. It can store and sort employee information, keep track of leaves and performance, track complaints, and make sure all employees are paid on time.
• Financial Management and Accounting – This system can manage all of your business finances and accounting. It will keep track of all HR, marketing, inventory, and related expenses to ensure all of your finances are in order and sorted according to legal requirements.
• CRM – ERP platforms have fully-integrated Customer Relationship Management capabilities as well. This system will store all customer data, including personal information, payment preferences, product or service preferences, rewards, etc. You can manage all of your customer requirements from this single hub.
• Marketing – ERP can keep track of all your marketing endeavors, especially digital marketing campaigns. You can use this hub to sort through all of the analytics data from your marketing campaigns.
• Sales – The software will also keep track of sales pitches, estimates, invoices, orders, and other such aspects of sales. Advanced ERP systems also have the ability to track shipments and incorporate tax rules into the invoices.

These are just some of the many aspects of business that an ERP program can handle. You can also manage manufacturing, inventory, purchasing, and supply chain data.

What Are the Primary Business Benefits of an ERP System?

With an effective ERP system, businesses can not only optimize their workflows but also considerably reduce expenses and save time. An ERP system integration will streamline business operations, thus benefiting both you and your customers.

Here are some of the ways in which an ERP software benefits businesses:

• Automation of Business Processes – With an ERP in place, you can put your internal company processes on autopilot. This involves financial management, human resource management, customer relationship management, etc.
• Decisions Driven by Data – ERP gives you access to real-time data, which proves to be profitable for management, marketing, and accounting. For instance, companies can get an overview of precise sales analysis so that they can make balanced decisions faster.
• Better Collaboration – Now that all company data is stored at one point and not separately in databases for each department, employees can collaborate more effectively.
• Adhering to Industry- leading Regulations – ERP systems work as an effective tool to stay on top of compliance changes and industry laws. This will help your business remain ahead of legislation, regulation, and standards.
• Protecting Customer Data – ERP solutions store data on the cloud, thereby proving to be safer and more secure than other solutions. The database keeps all sensitive data backed up and safeguards them from potential breaches.
• Improved Customer Service – All information related to customers and sales is stored centrally with an ERP system. This enables client service workers and sales managers to interact with clients better and do away with the possibility of service delays.

These are some of the many ways in which implementing an ERP system will boost your business.

How to Choose an ERP System?

Selecting an ERP system is no easy feat; you have to understand all aspects of your business thoroughly to understand how your company would fare. How to choose an ERP system and find the right match for your business?

• Understanding Your ERP Needs – The first step is to compare present pain points with future evolving ideas. From analytics and data to financial reporting and from automation to user experience, there is a lot to be taken into account to know which aspects of the business can actually benefit from the ERP system.
• Defining Your Budget – An ERP implementation not only involves the initial cost but also ongoing maintenance costs such as training, maintenance, and support. A slightly higher investment can fetch you substantial long-term results and definitely a higher ROI. Focus on what value the ERP system is offering while not staying within budget.
• Making the Right Choice Between On-premise and Cloud – The deployment option depends on your precise needs. While cloud-based solutions offer scalability, flexibility, and accessibility, on-premise solutions give you full control over infrastructure and data. Many companies mostly choose cloud-based systems for lower upfront costs.
• Checking the Integration Capability – The right ERP system should come with seamless integration capability with your existing database, software application, and third-party tools. This will enhance overall efficiency and bring a change in data accuracy so that everybody in the organization gets to work with real-time information.

How Do We Design Your Custom ERP?

It goes without saying that organizations have a lot on their plate – from managing data and resources to streamlining procedures. Amid all this, it gets difficult for the business to keep track of every minute detail. This is where INFORISE comes into the picture whenever you ask ‘how to build an ERP system’ that is tailored for your business needs!

We develop a custom solution that streamlines your operations and integrates all aspects onto a single platform. Our skilled team of experts takes your specific requirements into account and designs the perfect ERP solution.

Our custom solution involves 5 steps:

1. Gathering Information and Planning Accordingly – We understand your goals, needs, market niche, values, IT infrastructure, etc., to ideate the core features of your system.
2. Designing and Prototyping – Once you are on board with our plan, our developers take over to consider the solution’s functionality and its aesthetics and user experience.
3. Developing the ERP – This entails the backend and frontend development. Backend engineers take care of the ERP’s core while frontend developers look into the user interface.
4. QA and Testing – Let our QA testers check the solution for bugs and other glitches so that the end product you are left with has no problem and can contribute to your business’ success.
5. Production and Maintenance – Once the ERP solution is created, it is integrated with your existing software and infrastructure for end-users to access and use.

However, this is not all. We understand that a high-quality ERP system is rather complex and might need different customizations. INFORISE, as an experienced ERP development company, knows what pitfalls might arise ahead. So, we stay prepared.

• The core functionality of the ERP should never be compromised on. We offer you a solution with the highest-performing code so that all your needs are met. Moreover, our ERP solutions are scalable; as your organization grows, our system will adapt to your changing needs.
• Besides governance and automation, the ERP system should align with your business’ operational needs and goals. We not only power your current operations but also improve future workflows for better productivity.
• We know that an ERP solution with all functionalities would do no good to your business. Therefore, we understand the core of your business and what you aim to be. Depending on that, we create a solution and integrate it only with the must-haves.

A reputed enterprise resource planning company is what you need for success. INFORISE takes an agile-driven approach to offer your business a comprehensive ERP system. Call us to know about the right kind of solution for your organization!

With INFORISE IT, you can rest assured that you will receive a tailored software. As the leading provider of ERP software in Bahrain, our focus is always on your growth.

Frequently Asked Questions