ERP stands for enterprise resource planning. It is a business management software emerging to trend. Often during running a business storing and managing data becomes a huge hurdle yet is of great importance. ERP software helps us manage, store and organize data such as accounts, expenditures, day-to-day activities, etc. Data management is essential for the smooth operation of any business, be it a small term or huge scale. The owners should keep track of their activities, accounts, raw material, staff input, etc. Such management tasks are made a lot easier with erp implementation singapore.
History of the ERP software and its growth
The software initially emerged during the 1990s, but what pushed its sales was the year 2000 problem. The year 2000 problem or the Y2K bug occurred when the world changed from the year 1999 to 2000, all the computer systems worldwide recognized only 2 digits of the 4 digits of the year, making it difficult to distinguish the years 1900 and 2000 in computerized documents. After the millennium bug, most companies preferred to change their software. Thus, the new ERP software then took a rapid skyrocketing growth.
Benefits, drawbacks, and functions of the ERP software
Benefits:
- It has an integrated system
- It supports all of the common applications on one platform
- Better operation and maintenance of business
- Helps in the growth of business
- Increases savings
- Better security of confidential documents
- Fewer chances to tamper with data
Drawbacks:
- A sudden change may interrupt a worker’s speed
- Server crashes due to heavy loads
- Frequent updates
- Expensive
- It May require learning from staff
- Difficult to adapt in the initial stages
Functions:
ERP software has various functions. A lot of organizations may use this software for efficient operations.
- Financial accounting
- Management processing
- Data storage
- Human resourcing
- Supply chain management
- Project management
- Security
Who can use this software?
This exceptional software can be used in numerous organizations. Starting from business companies to educational institutions, everyone can make better use of this software for more satisfactory results. As the software provides a single platform to perform all the basic functions of management such as data storage, data analysis, data integration, calculations, planning, etc, the entire process is more simplified. Contractors, hospitals, medical organizations, educational institutions, manufacturing industries, etc, can use this software to keep track of their projects, production, and consumption. The software is also a great implementation to keep the staff in check.
Conclusion:
ERP software can bring major changes to a system; however, the changes will result in a more organized routine. This implementation can help the business overcome hazards like data loss.