Enterprise Resource Planning software has been known in the market since years, and many visionary business leaders have been using it too. Yet, when we talk about the change in the working culture for improved performance and efficiency of the processes and productivity of the users fail to think of ERP software as the solution.
If you are also one of them, and unaware of the fact what is ERP and why it is so useful, then you should give a read to this blog. This will help you not just to understand what ERP is, but, what added features should be present in the system for efficient working of the business. So, let’s begin.
Knowing ERP Software Solution
ERP software is an intelligent platform that streamlines and automates the entire business functions in an organization. It creates a centralized system for the information storage and exchange such that all the users in the organization access the same information ensuring absolutely no miscommunication of the data at any end. It also renders greater transparency and control of the processes, that means, the leaders can view the performance of the employees and progress in the projects from any location at any time. This again ensures that the users are always updated with the business situation in order to make real-time, insightful decisions.
Also, as we discussed, there are some defined modules and features in ERP that are required for smooth functioning of the business, like finance and sales management, CRM, HR management, etc. But, there is also an added feature that not all ERP software in the market possesses is in-built Business Intelligence. Only robust and smart ERP software like SAP Business One has it in its model.
But, why are we focusing too much on in-built business intelligence? The answer is given below.
Significance of BI in ERP Software
Business intelligence is required in an organization to turn data into insights, opportunities and meaningful information. Most of the Business Intelligence tools are used for the reporting and analyzing the data. So if these qualities are merged in the ERP software, you will end up saving on the cost of adopting new BI software in the organization, and will be empowered to make insights-driven report for your organization.
In-built business intelligence in ERP software will ensure:
- The data is realized and analyzed completely with minimum manual efforts
- The data is gathered seamlessly from multiple sources
- Complex business information is transformed into meaningful insights
- Even non-skilled users are able to create ad hoc reports
- The reports are created in the desired formats efficiently
- The data is stored and shared in a secured fully encrypted environment
- Insights-driven decisions are being made with speed and efficiency
And this is why we say that in-built business intelligence is a must have for robust ERP software. But not all ERP software have this feature, only few software like SAP Business One has this value-added feature to render the users the freedom to make insights-rich decisions anytime, anywhere.