Business Trends for 2019 - ERP Software

W e're approaching the new year and many businesses are wondering what trends will appear. One of the biggest trends is ERP Software, but what is it? Can it work for small businesses and aid operations?

ERP Software

Enterprise Resource Planning (ERP) Software can be thought of as an integrated system for applications that work together for your business. The system includes inventory, planning, sales, finance, marketing, and human resources. Essentially it's the glue that binds all the aspects of a business together. One way to think about ERP Software is to compare it to a human's central nervous system. Each of the different applications work together to provide an overall analysis of the business. It's easy for staff members to collaborate and for management to see where the business is lacking performance.

Why Use ERP Software?

ERP Software has many advantages including:

• ERP has intelligent tools such as data mining, executive information system and a decision support system.
• There are fewer risks of material shortages, cash management issues, quality problems and long delivery times.
• ERP can improve a business's customer service, which will retain and attract more customers.
• The software can automatically introduce the newest technologies such as Electronic Data Exchange, Intranet, Internet and Electronic Fund Transfer.
• All of the features can improve a business's image and attract more clients and investors.

While ERP systems have been around since the 1970's, they function a lot better today. Their multi-functional capability means businesses can manage everything easily. With companies needing to sell more and work harder the software will come in useful.