Online ERP is the term used to describe Internet based tools that are designed to help businesses of all sizes enhance their efficiency, reduce overheads and maximize profits as a result. Enterprise Resource Planning, as it is known in full, and specifically the online, or cloud-based, tools are among some of the most exciting technological developments taking place within the business world today.
It is no exaggeration to say that such tools are quite literally reinventing business practices and having a remarkable positive effect in offices across the globe.
Uses and benefits
Online ERP systems provide a range of tools to help improve business operations in numerous ways. With expert help to ensure that exactly the right applications are adopted and employed in the correct way, coupled with all the necessary training and support for members of staff who will be responsible for using and administering the system, these systems provide a relatively quick and simple way of laying the foundation for potentially huge changes to how a business is run.
The following are just a few examples of how an organization may apply ERP systems.
- Managing financial processes. At the heart of almost every business is a suite of processes, systems and procedures all to do with the management of money. As a business grows, such systems must grow with it so that they remain fit for purpose. Unfortunately, they are usually reviewed as an after-thought and therefore changes are invariably ad hoc and reactive, leading to unnecessary complexity and a lack of visibility. ERP systems can cut through this by providing a single, consistent and easy to access financial reporting system.
- Project management. Projects are by their very nature complex, with numerous moving parts that each have to be continually monitored to ensure successful delivery. ERP tools can be used to carry out that monitoring, identifying risks, gaps or weaknesses that need addressing or highlighting where enhancements can be made thanks to efficient sharing of information and by encouraging collaboration between teams and individuals, wherever they are in the world.
- Tracking time and resource. Winning new business, thereby growing a client and customer base and maximizing outputs, is one means of increasing profits. In many ways it is equally important to bring overheads down as far as possible, and ERP can help achieve that by tracking time and resource in an accurate and secure way, making it easy to identify efficiency savings and maximize billable time.
Information is the most significant asset of almost every business today, and expert commentators generally agree that this will continue to be the case long into the future. Managing that information to maximize the benefits of this asset is therefore critical.
Given its range of uses and the integral role it is playing in the success of more and more organizations, it is perhaps no surprise that increasing numbers of business leaders are turning to ERP as a means of ensuring their operations remain competitive, and that they are not left behind as the business world is revolutionized.