Technology & Innovation

The value of enterprise management to growing businesses

If you’ve been working in the business technology space, you may have encountered the acronym ERP and heard that this technology is a vital backbone to enterprises and mid-sized businesses.

Search for information on ERP, though, and it’s easy to get confused. This is because every vendor that says it sells ERP has their own understanding of what the term means. Dig deeper and you’ll find how ERP is used by businesses varies widely depending on the industry it belongs to.

ERP stands for enterprise resource planning – but this isn’t helpful in describing what it should or could do for your organisation.

Instead, we believe you should think of good examples of ERP as enterprise management software – allowing growing, medium, and large businesses to manage vital day-to-day processes such as inventory management, accounting, human resources, and customer relationship management (CRM).

At the most basic level, you can say enterprise management software supports how different business units work by sharing information through a shared database.

How can enterprise management software be powerful for your business?

This depends on the needs of your business and industry it’s part of – and that’s why implementations of ERP can vary so much.

However, we can drill down to some of the core ways enterprise management software can help employees of all organisations work, including by helping you:

1. View your data in a single place. Instead of using multiple pieces of software to get information, integration into a single database allows managers to see what’s happening across the business – from finance and HR to sales, inventory, and distribution.

2. View data in real time. It can be invaluable for managers and employees to see a global, real-time view of data. Without enterprise management, you might not know how much inventory a business has and what it requires at any given moment. For many industries, such as manufacturing and distribution, this information is crucial.

3. Maintain existing customers and find new ones. With one source of information for both billing and relationship tracking, it allows a business to serve customers better, as well as automate certain processes, which can free up time for employees to spend on more useful activities.

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Problems with ERP

Another reason there’s confusion around ERP is due to changes in the way the software has been implemented in the past.

ERP has been criticised for taking a long time to implement, as well as being expensive and difficult to use.

Also, many businesses naturally have their own specific requirements for an ERP solution, which requires extra customisation and more money to be spent.

Today though, we have enterprise management software, which is much more robust and comprehensive than the ERP solutions of the past, supporting more functions within an organisation that are very often industry-specific.

Also, in the past decade, software-as-a-service or cloud computing has made enterprise management software easier to implement for organisations that want to see both short and long-term business benefits, with prices falling for newer and mid-sized businesses.

However, do consider that many companies (particularly in the enterprise space) will still opt for on-premise solutions due to their specific business requirements.

What’s right for your business?

Clearly, business leaders that want a successful enterprise management software solution need to do the right research, determining what their requirements are beforehand – with all relevant stakeholders involved.

There isn’t a one-size-fits-all solution for an enterprise management software initiative – it all depends on the goals and objectives of the business in question.

If you’re thinking about enterprise management for your growing organisation, here are five basic tips to get started:

1. Get the support you need. Enterprise management software implementation is a big decision for any organisation, so it’s important you have boardroom or upper management support. They don’t need to know every technical detail but should at least be aware of issues that could delay or cause problems for a project.

2. Have a clear list of requirements. You’ll need to understand the scope of the project, the specific business processes that will be affected, and the technical requirements required. This means it will be much easier for enterprise management software vendors to tailor proposals that match your needs.

3. Think about usability, mobile users, and security. You want your employees to successfully use the system you choose, so make sure you propose a solution that’s easy to use. Make sure mobile and security are considered – you’ll likely have people trying to access your shiny new enterprise management system via smartphone or remotely.

4. Carefully evaluate your options. Make sure you pick an enterprise management software solution that works for your business, rather than make any decision based on big promises and a dazzling sales pitch. Use your research and input from stakeholders to choose a system that will be accepted and used by your employees.

5. Understand what you want to customise and why. Reputable vendors generally offer enterprise management software that’s customisable, or ready for the demands of different industries. The business objectives and demands for retailers for instance, might be very different from advertising firms.

Enterprise management must help your specific business

Enterprise management software is increasingly being adopted by small to mid-sized businesses. If it’s cloud-based, cost-effective, and easy to deploy, companies don’t need a huge budget to deploy enterprise-class technology.

The real future of enterprise management software isn’t about new technology, but which applications can immediately help your business and make a difference, fast.

Choose an option that is flexible, easy-to-use, updated regularly, and which meets the demands of your industry.

eBook: Streamline your business operational process

Discover how 3 technology trends can help you overcome today’s top 4 manufacturing industry challenges.

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