WHAT ERP STANDS FOR

ERP stands for Enterprise Resource Planning. It is the software that manages a company's financial, supply chain, operations, commercial, reporting, manufacturing, and human resources activities. Historically, ERP worked independently and were not connected to other systems. Each system requires costly, complex, and customized code to meet unique business requirements, which greatly reduces or even prevents new technology adoption or process optimization.

What makes Dynamics 365 ERP different, however, is to bring all these different process together in a unified system. It provides data connectivity not only in ERP systems, but also in productivity tools, e-commerce and even customer interaction solutions that help you connect all your data for better insights, which helps you optimize processes throughout your business.

In addition, Dynamics 365 ERP solutions provide flexible deployment, security and privacy improvements, sustainability, and customized low-code platform development. But most importantly, it will help you innovate faster, be more resilient to changing business environments, and be prepared for future change.

WHY THIS IMPORTANT

Although there is no one-size-fits-all solution software for all business processes, ERP technology is getting better and better at integrating business processes together. When you connect processes, systems, and data, you get the intelligence, timeliness, and resilience you need to start optimizing your operations. Here are three ways ERP can improve your business:

• Drive optimal performance: With an integrated artificial intelligence (AI) solution, you will be able to gain relevant insights to enhance your decision-making power and improve the way your operations perform.
• Accelerate operational impact: Connecting processes and data provides employees with greater visibility and flexibility, helping them act quickly and create more value across the business.
• Ensure business agility: Many ERP solutions are built to adapt to your needs and evolve with you, helping you proactively prepare for and respond to any operational disruptions or market changes.

WHO WILL BENEFIT FROM ERP SYSTEM?

Finance

Modern ERP will help you improve profitability while improving compliance. It provides dashboards that display financial profiles and AI-driven insights, enabling you to access real-time information anytime, anywhere. It also helps you reduce manual input by automating daily tasks and provides traceability to help your organization comply.

Supply Chain

If your company is still manually entering information and trying to track inventory, you can easily save time and money by automating these processes using ERP. Modern solutions also offer dashboards, business intelligence, and even Internet of Things (IoT) technologies to help you stay on top of inventory management.

Commerce

Today's commerce faces many challenges, and ERP systems can provide a complete omni-channel solution for unifying the back end, in-store, and digital experience. Customers will get a more personalized and streamlined shopping experience through AI suggestions, while retailers can improve staff productivity, help reduce fraud and expand their business.

Human Resources

Modern solutions provide multiple ways to manage company data and simplify employee management tasks such as payroll, recruitment, and other responsibilities. You'll be better able to help retain, recruit, and support employees, as well as track employee performance and identify HR issues ahead of time.

THREE SIGNS OF ERP NEEDING

If you're reading this and struggling with an old system, you probably already know that ERP implementation is imperative, but here are some signs that you need a new ERP system now:

• Basic Features don't Help your company Grow: Maybe the basic features have helped your company grow well, but if your current software is limiting your market expansion and ability to grow globally, it may be time to move to a better ERP system.
• Using Many Different Systems: As technology changes, you may find that your many different systems do not work well together. You've probably realized that the new accounting software isn't compatible with the old HR system, and you're tired of wasting time and resources trying to piece together a solution.
• Failing to Meet Customer Expectations: If your system can't adapt to the mobility needs of your employees and customers, it's time to invest in a system that meets everyone's needs. If you feel that you can't afford to invest in meeting customer expectations, and you're not willing to give your employees the tools they need to succeed, then you're pushing them to compete entirely.

Tip: if your company needs a new system, but some colleagues have resistance to the change. one way to solve this problem is to arrange a demonstration and let everyone can see the specific benefits. In addition, when everyone thinks they have participated in the decision-making, implementation will become easier.

WHY ENTERPRIESE ARE AFRAID OF ERP

Despite the variety of options, some companies are still hesitant to implement ERP. There may be many reasons for this, but there is a solution to all the worries.

Worry #1: How do I know if the ERP system I choose is the right solution for my company?

You don't have to look for a software solution that perfectly solves every problem. ERP should be able to take advantage of your existing business processes and integrate them into one system while allowing everyone in your organization to view the same information. This is where your choice of technology partner is important.

Worry #2: We can't afford major ERP innovations.

The solution does not have to be an all-or-nothing implementation. You can purchase different solution modules separately based on your business needs. This will help your team ease into ERP implementation and save you from having to invest in expensive software updates without knowing if the features you are adding will pay off.

Worry # 3: We don't want to lose the systems we have now deployed.

As we mentioned, any ERP solution you choose should work with the processes you are using today and include features that will help your business grow in the future. For example, if you have software that deals primarily with the financial, supply chain, and manufacturing aspects of your enterprise, you may need to look for a solution that introduces powerful business intelligence components.