Enterprise resource planning (ERP) solutions are designed to seamlessly connect and automate essential financial and operational business functions—providing a single source of data and a wealth of real-time operational insight. ERPs have the power to integrate functions across a company; for example, inventory, order and supply chain management, procurement, production, distribution and fulfillment, sales, marketing, human resources, and at the center of all operations, accounting and finance.
Cloud-based ERP platforms offer all the features and benefits of traditional, on-premise ERPs but are deployed in the cloud and often sold on a subscription basis (software as a service—SaaS). Cloud ERP solutions offer organizations access via the internet so that employees only need an internet connection and a browser to access the software.
Growing and/or industry-specific businesses are prime candidates for ERP technologies because they provide a centralized suite of applications designed to streamline processes company-wide and provide real-time data insights across departments and roles. They also come equipped with industry-specific features. For example, an automated inventory management module for including wholesalers, construction, subcontractors, food services, retail, and e-commerce businesses.
If you are in a position to consider moving toward ERP implementation, be sure to review all of the information provided here on the benefits of cloud ERP platforms, use case examples, and answers to frequently asked questions.