Running a business may sometimes feel like building a house of cards inside a hall of mirrors. It’s hard to know what’s going on and how various areas of the business are performing. Yet, though you lack the right information, you must still plan your next steps. Enterprise Resource Planning (ERP) solutions offer a way out of this challenging, but very common, management scenario. ERP offers detailed, accurate views into different areas of your business. It is even possible to achieve a full view of your business, if you use the right ERP solution.
ERP in Brief
What is ERP? ERP is a class of software that has evolved over the last 40-50 years. In its earliest forms, ERP was meant to help managers of industrial companies stay on top of operations, supply chains and finances. With the maturing of ERP, coupled with cheaper and more agile computing, you can now easily avail yourself of sophisticated ERP solutions that meet your industry’s unique parameters. You can also implement ERP modules that address distinct areas of your business.
Getting a Full View of Your Business with ERP
The term “solution,” though commonly used to describe ERP, is not quite right. ERP is typically available as a connected system of separate modules. Acumatica, for example, offers modules that address a diverse range of operational areas and core business processes. Together, these modules offer a full view of your business. Used on an individual basis, they provide a complete picture of their given focus area.
- Financial Management – The CFO can use the Financial Management capabilities of the ERP solution to perform basic accounting tasks, take care of treasury management and plan for the company’s financial future. Learn more
- Distribution Management – For businesses that run a distribution operation, the Distribution Management module of an ERP solution let you manage quotes and orders and track inventory. The module may also enable the automation of purchasing. Acumatica Distribution Management, for example, also drives improvements in customer service with full integration with Customer Resource Management (CRM), financials, project management and so forth—creating visibility a given customer across the entire company. Learn more
- Customer Resource Management – This module lets you manage your sales pipeline, including leads, contacts and opportunities. Automatic CRM includes functions for post-sales service as well as customer portals. Learn more
- Reporting, Dashboards, and Data Analysis – Full visibility means having a quick (ideally instant) overview of how each area of the business is performing. ERP solutions typically include some built-in reporting and data analysis features as well as dashboard displays of real time reports. The solutions almost always also connect with popular third-party analytics and reporting tools.
- Project Accounting – If your business is project-based, a project accounting tools in the ERP solution will let you know actual project costs as you accrue them. You can manage budgets and time sheets as well as project inventory and billing. The right ERP solution gives you sophisticated budget tracking and estimate vs real cost reports in real time. Learn more
ERP solutions like Acumatica also offer a number of specialized operational module. Examples include Manufacturing Management, Field Service Management, eCommerce and Construction Management. These will only matter to you if you are involved in one of these areas of business. Each of these dedicated modules integrates with Financial Management, CRM and so forth—giving you a full view of your business no matter what business you’re in.
Integrated Business Group offers extensive selection and advisory services for ERP. To learn how we can help you get a full view of your business with ERP, visit https://www.integratedbusinessgroup.com/services/consultation/