What is ERP (Enterprise Resource Planning Software)?

ERP stands for ‘Enterprise Resource Planning’. Historically ERP solutions were used only by large manufacturing companies. These days ERP systems are used across a wide range of industries (including retail and wholesale) to holistically manage core business processes on a daily basis.

ERP stands for ‘Enterprise Resource Planning’. Historically ERP solutions were used only by large manufacturing companies. These days ERP systems are used across a wide range of industries (including retail and wholesale) to holistically manage core business processes on a daily basis. These processes include:

• Order management
• Purchasing and Inventory management
• Customer Relationship management
• Marketing management
• Warehouse & Distribution
• Financials

One major issue that many businesses face is that they have disparate systems and therefore their back office is in disarray as data is duplicated and scattered in various locations. There is no ‘single source of truth’. They also experience double-handling and manual processes which can be costly to a business.

ERP software alleviates these issues as it replaces legacy systems (including accounting software) – all the data is stored in one database, and processes across core business areas are streamlined and automated. Ideally an ERP should maintain data in real-time (so that the data remains up to date and accurate), allowing for real-time reporting and analysis. Cloud ERP software that is offered software-as-a-service (SaaS) provides real-time data, and also the additional benefit of being accessible from anywhere at any time (via an Internet connection).

There are many benefits of cloud ERP solutions, and these include:

• Cost reductions and increased efficiency from streamlined processes and single source of data.
• Better insight, forecasting and decision-making from real-time reporting and analysis.
• Higher staff productivity and enhanced team collaboration from centralised data, and ease of use of system.
• Cost-savings from reduced overheads (no need for dedicated IT resources or to manage IT infrastructure such as servers).
• Enhanced customer service – information readily available to provide a personalised service and optimise the customer relationship.
• Scalability – add new features or new users as required.
• Mobility – the system can be accessed from anywhere at any time.

SaaS ERP software contains extremely comprehensive functionality for large (or smaller businesses) and can be tailored to meet the specific needs of each business. ERP software requires an investment in terms of the software solution, project resources, and time to implement – all important and necessary factors to ensure a successful implementation and outcome.

Choosing a comprehensive, flexible cloud ERP solution, like Qdos ERP (ERP Software Melbourne), means that it’s a ‘once and done’ – as your business grows and additional features are required, these can either be ‘switched on’, or customised for your ever-changing needs.