Sometimes, the best presents we receive are the ones we buy for ourselves. At least that has been my experience. I would also venture to say that if I were an executive at a company that was struggling with an inadequate ERP (Enterprise Resource Planning) software system, I would try to alleviate that problem by stretching the budget to include the purchase of a modern ERP solution.

Tis the Season to Give Yourself a Gift of a New ERP SystemIf you feel that the basic financials and operations your company currently uses are not enough anymore, it may be time to look at putting a more up-to-date ERP system into place. With newer ERP features and applications being developed all the time, it is essential to investigate your options. Plus, in an increasingly competitive landscape, the chances are that your competition is already updating their ERP systems.

It is not a question of keeping up with the Joneses. It is a question of staying relevant.

Given that ERP is business management software that allows an organization to use a system of integrated applications to manage and integrate a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities, ERP makes for a fabulous early Christmas gift to yourself.

Just think about this for a moment…

What Are the Major Components of a Modern ERP Software System?

In this day and age, modern ERP systems provide pretty much everything you need to run your business, with crowd-pleasing features and functionality housed within a single integrated solution that eliminates islands of information and duplicate (or triplicate) data entry. You should expect a fully integrated ERP software solution to include:

  • Financials
  • Reporting
  • Robotic Process Automation (RPA)
  • Marketing
  • Sales
  • Service
  • Supply Chain Management (SCM)
  • Human Capital Management (HCM)
  • Operations
  • Manufacturing
  • Material Requirements Planning (MRP)
  • Inventory Management (IM)
  • Warehouse Management (WMS)
  • Business Intelligence (BI)
  • Artificial Intelligence (AI)
  • Corporate Performance Management (CPM)
  • Project Management
  • Specialized Tools for
    • Nonprofits
    • Multinationals
    • Retailers and E-tailers
  • Tools to ensure
    • Ongoing Security Monitoring
    • Regulatory Compliance

Let us take a closer look at several of the business areas covered by your ERP software.

Financial Management

Gone are the days when the Financial Management component of your ERP merely covered basic accounting features, namely your General Ledger (GL), Accounts Payable (AP), and Accounts Receivable (AR), often referred to as “glapper.” Today, you should expect a lot more from the Financial Management component of your ERP software. Your ERP software should deliver accurate data and analytics to help you keep an eye on your budget. It should include capabilities such as the management of multiple currencies, cash flow management, bank transactions, and regulatory compliance.

With modern Financial Management, you should also expect to be able to close your books monthly, quarterly, and annually in a tiny fraction of the time that it took in the past. Just ask any CFO or accounting professional how important that would be.

Robotic Process Automation (RPA)

Robotic Process Automation looks like AI (Artificial Intelligence) yet is not AI. RPA provides packaged automation, which is essentially pre-defined workflows designed to carry out everyday, repetitive, (and boring) data entry tasks. Packaged automation can be implemented quickly with modest effort, and no software development is required! You simply specify the task to be run, provide parameters, and schedule it to run periodically at a pre-defined time. If needed to run the workflow, login credentials are stored in a secure password vault, accessed only at run time.

If Robotic Process Automation is new to you, click here to learn more about RPA.

Manufacturing

It has really only been in the last decade that manufacturing functionality became an essential and integral part of ERP software solutions. It started small but has grown incrementally year over year with each new software release. Indeed, the advanced manufacturing functionality now available in most ERP systems has been credited with contributing to new growth in the U.S. manufacturing sector.

Functionality such as shop floor routing, the ability to handle your deepest BOM (Bill of Materials), and Material Requirements Planning (MRP) is a given. But much of the new features focus on giving manufacturers the ability to access real-time data for optimized production planning and project and cost management. Increased automation and time-saving workflows are also popular and incredibly easy to set up.

Supply Chain Management (SCM)

As the days of manually entering information and doing a physical inventory of goods become relics of the past, SCM features within your ERP system improve warehouse and inventory management and let businesses gain more significant insights into their products and integrated logistics.

Modern ERP systems offer built-in intelligence for optimized outcomes. They also scale with your business as you expand into other markets, and they help keep client and company data secure. Plus, a modern ERP platform goes even deeper into meeting your business needs by offering less costly customization options. This means it can work with your legacy system and extend your everyday processes as you grow.

The Gift of ERP Software

Using many of ERP’s resources and capacity planning tools, you will:

  • Increase productivity
  • Take control of financial management
  • Deliver better customer service
  • Enhance human resources management, also known as Human Capital Management (HCM)
  • Streamline project management
  • Improve supply chain and operations management
  • Make better decisions through Business Intelligence (BI) and Artificial Intelligence (AI)

For more information about the gifts of ERP, check this out:
ERP SOFTWARE: THE GIFT THAT CONTINUES GIVING VALUE

ERP Gifts from Strategic Systems Group (SSG)

Strategic Systems Group (SSG) adds value to your ERP gift with ERP Implementation Services and ERP Software Consulting Services, making sure that you get every last ounce of functionality, performance, and benefits from your ERP solution of choice, based on our 30 years of ERP experience, specifically with the Infor ERP and Microsoft Dynamics ERP product families.

Take the next step…

Call Strategic Systems Group (SSG) at (310) 539-4645 or reach out via our contact form today!

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