1. Small enterprise loses up to an average of $0.4 million and giant enterprise losses $62.4 million due to the miscommunication of data.
2. The implementation of ERP helps your organization to get over 14% on operational cost and 13% on administrative cost

As a business grows, the workload of every unit also grows rapidly. It’s easy for the administrators to manage things on spreadsheets and e-mail at an initial level, but with continuous growth and expansion, manual handlings of records do not go long ways. Being unable to carry up with customer demands could hinder the entire operations. There arises the need of ERP that can bring together diversified activities of an enterprise under integrated software.

What is ERP?

ERP is elongated as Enterprise Resource Planning but even its full name doesn’t shed much light on its meaning. In a simple term, it is an integration of various management processes that are used to collect, store, manage, communicate and interpret data with the help of software aided technologies. Let’s consider several of the processes that run in an organization- from inventory control, accounting, Customer Relationship Management, Human Resources to Sales & Marketing. It helps an enterprise to create a more efficient, better automated and integrated operations through technology-aided software. The chief feature of an ERP system is a shared database that looks over multiple functions used by all the units in the organization.

Today, ERP is spreading vigorously to encompass business intelligence handling front office functions. Multi-faceted ERP software utilizes a unified database to streamline business operations and increase agility ensuring enterprise success.

Did you know?

• Small enterprise loses up to an average of $0.4 million and giant enterprise losses $62.4 million due to the miscommunication of data. Well equipped software-enabled ERP becomes a useful tool to eliminate this loss.
• Currently, ERP is a $30 billion industry, is expected to grow further at a more fast rate as companies are now seeking to enter into the industry 4.0 which means, industries are being accelerated with technologies like cloud computing, Big Data, Digitization, Artificial Intelligence, Machine Learning, etc
• As stated by some of the leading experts, the market of ERP software is expected to reach approx $41.69 billion by 2020.
• The implementation of ERP helps your organization to get over 14% on operational cost and 13% on administrative cost.

Why your business needs ERP?

Better Accounting and Improved Productivity-

It is important as well as tedious to keep track of your financial records when your company is experiencing continuous growth. After a survey, it came into fact that 40% of the worker spends half of their week in doing repetitive work. With ERP software, you can automate those repetitive natures of tasks. Not only this, ERP does not only simplify your task but it eliminates the risk of errors.

Advanced Analytics-

The analytics and reporting of a business can be improved to a greater extent with a centralized database. ERP provides you with customized dashboards that keep records of all the input data. Any authorized person can simply see all the reports by just logging into the system to get insights.

More Savings & Standardization of Software-

Though it needs a good investment to install ERP software but just like every other investment, ERP gives a broad benefit on ROI. It conglomerates the various process and systems that are scattered in a company. It enables employees to access the data from one centralized system. It not only cut your cost of training given to employees but also reduces the manual effort so that the same employee can be assigned to different tasks.

Better service delivery to client and customer-

As most of the ERP systems are equipped with strong CRM tools managing custom queries and reviews becomes quite easy. The CRM tools are accessible to all data relating to the various business processes. It also enables you the detailed information of customers like an invoice, date of purchase, date of registration, order history, etc. It helps to understand your customers well and deliver the best possible services.

With FASTCURVE ERP software you can-

• Eliminate ¾th of manual and spreadsheet-based operation.
• Improves financial compliance with regulatory standards
• Automate core business activities
• Observe everyday cash balance visibility via real-time dashboards, KPI, etc
• Enhance customer service by better billing and tracking facilities
• Access better accounting
• Improve Productivity