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ERP is an acronym that stands for Enterprise Resource Planning. But what does that really mean? ERP software is designed to help companies manage their business operations, providing visibility into available resources, whether financial, labor, time, materials or other aspects needed. Organizations use ERP software to streamline the complexity of business processes such as taking orders, scheduling plant activity, tracking raw materials and compliance reporting. Virtually every organization with more than a few employees uses some form of ERP. It’s a competitive disadvantage if a company isn’t leveraging ERP effectively.

Many companies adopt ERP for the first time when they realize their entry-level accounting software lacks core functionality, scalability and just isn’t giving them the visibility they need. But ERP software systems help you manage much more than financials. An ERP system like SYSPRO’s is developed in a modular way, with applications covering such diverse areas as manufacturing management, distribution logistics, CRM, order management, e-commerce, product lifecycle and engineering control, scheduling, inventory and warehouse management..

When it comes to change, pain is a great motivator. Maybe it’s taking longer every month to reconcile your financials or you’re increasingly basing forecasts on guesswork. You have no real idea how much stock you have on hand, so it’s hard to be demand-driven. Increasing compliance regulations are tying you in knots. Here are five common signs we see from companies ready to consider a new ERP software system:

1.Decision time has doubled. Time spent looking for information has increased dramatically.

2.Working capital has increased. Too much money is tied up in inventory and inefficient processes.

3.Redundant, disconnected software programs. You need to reduce IT complexity and unify your various front- and back-end systems with a single database – and get to one version of the truth.

4.Customer experience is suffering. If you can’t deliver what customers want, as fast as they want, to the right locations, you could lose to competitors. The right ERP system can provide visibility and agility to be more customer responsive and reduce errors.

5.Growth and expansion. If your current system can’t scale up, handle global needs, or support new business lines, it’s time to consider a change.

Making the right choice may seem daunting. But it doesn’t have to be. If you need help developing a list of requirements, find a vendor that knows your industry and market and has customers similar to your business. Once you have a list of requirements, you can then gather responses and start the comparison process. To help you select the right ERP solutions for your business and business needs, SYSPRO offers a preliminary assessment and modeled blueprint of your business based on evaluating your current and future strategic objectives, current business processes, IT maturity of your organization, people and roles involved in ERP and your information needs.