With a broad umbrella of business processes such as goods and services, sales and distribution, manufacturing, human resources, production planning, warehouse management, and logistics, ERP is successful in grabbing a vast market space around the world.
We all are aware of the ERP system, aren’t we?
But do you exactly understand what integrated ERP is? What are its models? How effective is it for your organization?
To answer all your questions, we will give you a detailed analysis of how ERP integration might help your business in this blog.
What is Integrated ERP?
Best Enterprise Resource Planning software is a system that assists you in revamping, integrating, and scaling your entire business process management. Basically, integrated ERP is a transforming system that will help you keep all your data in an organized manner from all the departments. Essentially, this system creates an effortless flow of information modified within both the department and enterprise-level requirements.
Fig: Demonstrating Worldwide growth of ERP revenue from 2018 to 2023
The above graph clearly mentions how the use of ERP is elevating yearly. This is a clear picture estimated by Statista of the upcoming ERP market industry across the globe, showing the projection of 462 billion U.S dollars by 2020. This means the future of our organization demands an ERP system to shape the streamlined architecture.
Let’s take an in-depth insight into the benefits and upcoming approach of an ERP system across the globe.
What to Tackle with Integrated ERP in Business?
Enterprise Resource Planning software was actually introduced as a strategic tool that reduces costs, trading methods, and promotes beneficial risk management. ERP integration will help all your business aspects and departments to function under one roof like a well-mechanized motor. First, let’s acknowledge some noteworthy points that could affect your business if ERP is not integrated into your business.
Disturbance in Dataflow
If you’re into an eCommerce business, without integrating ERP software in your business, it will be time-consuming to conduct manual entries as it may run out of the workflow. Also, with such enormous data and information, you might require more strength of labor, which will cost you more.
Unavailability of real-time data
As we can observe by the above point, without the integration of ERP, the entire system will be operated manually. This will lead to a communication gap resulting in a delay in data transfer. Activities of transferring and staking the data in the system will be ultimately affected, which will cause dissatisfaction of customers and your clients as well.
Increase in Error
Manual entries will definitely lead to some errors at a point. As the system nowadays demands every process to be swift and accurate, the ERP disintegration in your organization might not be able to fill the gap. This will lead to rework sometimes too.
Negative impact on team collaboration
Inconsistency of the data transfer causes conflicts inside the team because it lacks the information exchanges between them. This implies without ERP integration; your team will be hampered for the marketing and sales management.
Benefits from ERP integration
The integration of ERP in the business provides an ample opportunity to discover their end-users based on operational, imperative, and personal level benefits. Based on this, you can work you through exemplary business efficiency, provide better customer centric services, and display crystal potency by contributing a clear vision across your business operations through it.
No one likes to get restricted when they are into business. The benefits of ERP can be clearly seen when it delivers access to real-time information and the utility of the data that cannot be misrepresented.
Since the ERP system allows automatic customization of manual tasks and methodologies, this will assist your business to save a lot of essential time and reduce human errors, redundancy, and revise to almost zero. This will encourage your employees to work in an excellent way to complete their tasks faster. Definitely, integrating ERP will change the habit of doing jobs in your organization.
Speed up decision making
With such an integrated ERP system, one will get options to view the real-time data, intelligent reporting, and analysis empowering decision making. One need not depend on manual outcomes, which is the primary aim of the ERP system, which means the conclusion to any problem of the entire system will be accelerated.
As we all know, how fast and accurate is the integrated ERP system, you will be able to access all the real-time information related to sales. And this will lead to identifying new business opportunities in a short timespan. ERP ensures delivering, distributing fresh products along with ready support and services to the market very quickly.
By integrating ERP across your organization, you will be able to fetch all the real-time reports, whether in loss or profit, in a short time. This means you’re increasing the efficiency of your company and the employees too.
Industrial Approach to ERP Integration
High-tech innovations & software are growing advanced at a very fast pace. Now, according to the Allied Market Research study, ERP software is expected to take over the market with an estimation of $78.40 billion by 2026 which means ERP is going to become one of the most successful technologies in the coming decade.
Recently, some of the changes in the project reports can be observed reshaping the ERP adapted businesses due to the pandemic of COVID-19. However, Integrated ERP is still all set to embrace the demand of the business by maintaining seamless communication and managing operations over a single organized database.
Let’s take a look at how integrated ERP can take over business miscommunications and improve operations:
- Mobile-based ERP
The usage of mobile devices is inevitable. With this great shift towards mobile, companies have gotten used to fetching information in real-time and offer the same to their employees to help expand the outreach of their work. Thus, creating a mobile-based management system to assist in connecting with all the team members has become necessary. This, in turn, will help you utilize your time to cater company-wide efficiency.
- Cloud-based ERP
This might not be a too new concept, but it is the most efficient way of growing the business in 2020. Today, most of the companies ranging from entrepreneurs to high-level MNCs can benefit from all kinds of cloud-hosted services. In this growing world, even during the slowdown of the economy, cloud-based management systems would help software developers, business analysts, and quality analysts to work at the same infrastructure very precisely.
- Healthcare-focused ERP
Ever since the COVID-19 breakout, the entire healthcare system is struggling with their ways of management just the way before ERPs were implemented in the healthcare sectors. But the scenario has completely changed as healthcare demands a system to manage every issue faced through one central system. The supply chain could become a profitable option for the healthcare management system with an integrated ERP.
- Omnichannel Strategized ERP
The channels for online shopping are increasing day by day. This is happening because brands are connecting to people only over the internet, thus broadening customer needs. By opting an omnichannel strategy, brands will be able to improve their sales integration channels through a single platform with ERP integration. The implementation of this omnichannel strategy will profit in providing convenience, shopping satisfaction, and increase the market value of the business.
- Manufacturing Focused ERP
Manufacturing companies are gearing up in opting for futuristic technologies. 3D printing, especially, is reshaping the manufacturing sector for the betterment of the industry, specifically where the large-scaled, high-volumed and complex manufacturing of products are involved. Managing and keeping track of the combination of hardware, direct machine integration, and the software will be highly required under one system in 2020.
ERP is getting implemented everywhere. Undeniably, the integrated ERP system has also rolled out many failing versions from the past to the present. But guess what? Failure leads to success.
Organizations ranging from startups to Fortune 500s have come forward to implement it with all the R&D and technical studies. Investment in the ERP infrastructure will lead your business to achieve the best paths.
The working structure of your organization is the foundation, so it requires a strong management structure including ERPS tools, cloud-hosted software, and omnichannel setups. This will not only consolidate the data but definitely turn your organizational base, dashboards, automatic updates, and accurate analysis making it easy for the firm to grow and improve according to the trend.