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What is ERP software?

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ERP is an industry acronym for Enterprise Resource Planning. But what does that actually mean? Broadly speaking, ERP software is a platform that enables the automation and integration of a company’s core business processes, such as core accounting, job management, inventory management, etc.

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Triumph ERP Blog

Welcome to Triumph Business System's company blog! Here you will find valuable articles about Triumph, business management software, industry news and other related topics.

What is ERP software?

What is ERP software?

ERP is an industry acronym for Enterprise Resource Planning. But what does that actually mean? Broadly speaking, ERP software is a platform that enables the automation and integration of a company’s core business processes, such as core accounting, job management, inventory management, etc. In order to do this, ERP systems need to be sophisticated and have a complete understanding of all the aspects required to drive those business processes. This is why ERP systems are generally considered the ‘next step up’ from entry-level accounting systems such as Xero or MYOB.

ERP software by design is based on three essential fundamentals: integration, flexibility, and functionality. Let’s talk about what each of these foundations means for you and how it can add value to your business.

Integration

Many small businesses buy entry-level systems to manage their core financial processes, and then purchase add-ons for more specific business needs, such as Point of Sale, Job Costing, etc. However, as the business grows and the needs of the business expand, it may end up with several different pieces of software and Excel spreadsheets that it relies on to support the day-to-day running of the business.

ERP systems allow for better integration of all the different areas of a business. There is no need for messy add-ons or spreadsheets as the bulk of the work is done by the core ERP software. This means your system is simpler and easier to manage, whilst still maintaining the high level of sophistication your business needs.

Flexibility

ERP software is designed to be flexible in order to accommodate each business’ specific needs. Not only does it support the specific processes unique to the business, but it can also to grow at the same speed as the business, keeping costs in perspective. A good ERP system will have a modular design, meaning different areas of business management are organised into sections which can be turned on and off within the system as required. For example, perhaps you start exporting your product overseas, and decide to add a Foreign Debtors module to your software suite, or perhaps you decide to move your business online and require an E-Commerce module.

You should also be able to add or subtract the number of users as your staff numbers may change over time, particularly if you are experiencing growth. Having the ability to scale your software up or down as required is essential to your business and is very valuable for the long term.

Functionality

ERP software offers much more than just the basic recording or bookkeeping functions that entry-level systems provide and allows you to streamline processes and information across your entire organisation. The full integration of the key areas of your business allows you to see the ‘big picture’, rather than having to examine each section individually when making important business decisions.

The fact that ERP software is fully integrated means that each area of the system speaks to each other and greatly improves functionality. This gives you many valuable benefits such as improved reporting capabilities and the ability to automate certain business processes, for example the reordering of stock.

 

The benefits of ERP systems are clear - they allow you to access accurate information quickly and easily, enabling you to make better business decisions and helping your business to prosper and grow over the long term. To find out more information about how ERP can work specifically for your business, give us a call on 1800 653 545 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

See the following links for more information on ERP software:

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