What Types of Companies Need ERP?
As business markets get ever more competitive, key decisions will depend on the accuracy of the information generated from different types of data processed by the different departments in a particular company. Companies worldwide prefer the use of ERP systems in their organization for the generation of these data. EPC Group specializes in Dynamics 365 Business Central as it is the leading ERP system that allows detail reporting integration with Microsoft Power BI as well as the ability to provide predictive analytics to your organization’s stakeholders. The data generated by the ERP systems are collected from the different departments of the same organization. This confirms the accuracy of the data provided by the ERP systems.
Organizations are turning to cloud-based ERP platforms that will ensure the accuracy of the information and will continue to pinpoint the strategic errors (if any) in the company’s data. This level of accuracy can be achieved through the cross-matching of the information in the applied modules of ERP systems. The ERP systems help out to put in effective controls on different departments and help in reviewing the currently applied methods in the market. In brief, the ERP systems are required by every company irrespective of size, operational level, industry, trade or number of countries it is operating.
Some specific companies who tend to use the ERP systems daily are
Manufacturing companies rely largely on the usage of the ERP software. One of the biggest advantages that the ERP software provides to the manufacturing company is that it removes the hindrance to communication between different departments within the same company. The main departments, such as the production, purchasing, and accounting departments, need to communicate regularly, and they can do so with the effective use of the ERP software.
The ERP software equips the company with such effective communication tools so that communication can occur between the company’s internal and external sources. With the proper use of the ERP system, the distributors are able to keep an eye on the supply chain, inventory turnover and the costs under their control, giving the company a strategic advantage over competitors.
The ERP software for retail can match the scale of every business by assisting them with the daily activities. Without the use of ERP software, the retail companies would be landing on a cactus. The controlling of the Sales, payments, inventory management, shipping, tracking and marketing is made much easier for the retail companies using ERP software.
When trying to tackle all the intricacies of managing a retail company with a lot of information and every big or small mistake that can cause huge losses, it can be a difficult job. It becomes important for the retail company owners to analyze the changing trends in the market and accordingly decide the plans. To release this burden, the ERP system helps to analyze the trends and promote better decision making using predictive analytics.
People usually disagree with the use of ERP systems in a farming company, but in reality, farming companies also require ERP systems. Farming involves growing crops on acres of land and completely relies on the weather and the correct temperature, and enough rain.
Only then a farming company would be able to grow crops and be successful. Without it, the company would have nothing to provide to its customers. Here the ERP software comes forward to play an important role as it allows farmers to keep a record of a particular part of lands, which can help gain potential with the use of ERP software.
Health Care Companies
Even health care companies can take maximum advantage of ERP systems. Such systems will allow them to store patient details and share them with various healthcare providers. If a patient went to the hospital for a particular treatment and then again visited the same hospital for a regular checkup in another department or emergency room, the ERP system for healthcare can update his record every time.
All such things entirely remove the manual procedure of maintaining the files and keeping them in filing cabinets. The ERP software also helps hospitals manage finances and track patients’ payments, supplies, and services.
When we talk about equipment rental and specialty trades, in construction sector control over cost, meeting deadlines and inventory management are critical aspects. An efficient ERP solution can help this sector to streamline the entire process through automated workflows. Through excellent inventory management by ERP, supervisors can emphasizes on their core jobs instead of wasting time in paperwork.
According to the above-shortlisted sectors of companies, it can be justified that ERP software is capable enough to support businesses of all kinds. EPC Group is one of the industry recognized leaders in cloud-based ERP consulting with our senior Dynamics 365 Business Central teams that will help you in managing the daily business activities for your organization. EPC Group’s team of Dynamics 365 experts will allow you to now focus on core business functions while using a best practice configured ERP platform for your organization. Because of the various benefits of ERP in different sectors, companies are embracing this new technology to scale their business as well as improve the overall bottom line.
Sas Chatterjee is a Senior Architect with EPC Group. His focus lies in making sure that the execution of each engagement is delivered in a forward compatible, best practices manner. Sas is an extremely devoted professional and takes each project he is assigned very seriously. During the project execution phase, Sas invests the time needed with his clients to gain a full understanding of their requirements and develops a roadmap for achieving their desired end goal.