5 Reasons Why Companies Need An Enterprise System

What is a business system, and why does your company need one? A business system, sometimes referred to as an ERP (enterprise resource planning) system, is a software solution that organisations use to manage their daily business activities. These activities may include accounting, risk management, project management, procurement and compliance, along with supply chain management where applicable. Comprehensive ERP solutions may include performance management functionality to help businesses plan and budget future activities and forecast future financial results.

Whether you run a strictly local business or a large corporate organisation with an international presence, an ERP solution that brings all of your business systems and processes under one roof aims to help your enterprise to become more efficient and profitable. Below, we highlight five excellent reasons for all forward-thinking organisations to adopt a comprehensive enterprise system.

5 tangible benefits of adopting an ERP system for business

Business IT systems have come a long way in the last decade, moving from onsite solutions to highly scalable cloud-based systems that provide cost-effective enterprise software as a service (SaaS) to organisations of all sizes. If you are not already using a fully-featured ERP system, here are 5 reasons you should.

1. Increased productivity

ERP software is designed to automate a wide range of business activities and enable companies to control these activities from one central interface. There are many examples of business systems that have achieved this aim, including TechnologyOne Global SaaS ERP Solutions.

Whichever approach you choose, the automation of standard processes should enable your employees to focus their efforts on their work and spend less time working on repetitive administrative tasks.

Assuming your system is properly configured and deployed in a manner that makes it easily accessible to every member of your workforce, you can expect significant productivity improvements across all areas of your business.

2. Improved collaboration between individual employees and departments

A well-designed ERP solution will include features that make it easier for both individual workers and departments to work together effectively. Any organisation with a mix of onsite and remote workers can benefit from these collaboration features.

An ERP system should automate tasks across departments, simplifying cooperation between them. A common example of how such automation can improve teamwork and collaboration is in the area of supplier invoicing and Accounts Payable management. A system that automatically flags appropriate actions for the AP team when new supplier invoices are received and processed can ensure that suppliers are paid accurately and paid on time, and help to prevent fraud.

3. Better customer, supplier and partner relationships

One of the areas where business systems development has thrived in recent years is the management of complex customer/supplier/partner relationships. Developers have striven to create business systems that offer functionality including informing suppliers in advance when you are likely to need a larger quantity of their products — helping you avoid potential bottlenecks in your supply chain.

They have also created advanced ERP solutions that can facilitate the sharing of data with key customers, allowing you to anticipate future requirements and meet them on time.

4. Ability to grow and scale easily in the future

Whether you are managing a large financial services company, community services provider, or a local government organisation, you are likely going to need to expand your field of operations in the future.

With an effective ERP solution that automates everyday tasks, your workforce will be able to devote more of their time and energy to future expansion projects. ERP solutions, such as those provided by TechnologyOne, can also simplify the process of large-scale data capture — ensuring that your organisation has access to the information it needs to predict future demand and identify new opportunities.

5. More effective security measures

It is easy to compile a list of business systems examples that depend on effective security: think customer data, employee records and financial information. They all require the very best protection available. With an ERP solution configured by industry experts, you will be able to operate such systems without worrying about the possibility of data leaks compromising the safety or integrity of the information they use.

Through our expert consultancy services, Lánluas helps organisations in local government, education, healthcare, and corporate/financial services take full advantage of the enterprise systems they adopt. Contact us to find out how we can help you unlock your TechnologyOne solution’s full potential.