What is ERP and Why Every Company Should Have One?
An Enterprise Resource Planning (ERP) solution is an information system that supports business operations and aids in decision-making. Some of the business functions supported by the information system include human resources, sales, production, customer service and finance. The ERP system uses a centralised database and platform with a consistent and uniform user interface for the user of the system.
Why Does my Organisation Need an ERP System?
Organisations that have not implemented an ERP system are at a competitive disadvantage compared to other firms which make use of such a system. The implementation of an ERP system solves and provides information to the following management queries:
- Forecasts and inventory levels
- Order tracking
- Revenue cycle
- Firm capacity and under or over utilisation of resources
- Reduces customer relation problems due to cost overruns and deadlines
Microsoft Dynamics NAV is a popular and feature rich ERP system. The out of the box functionality covers industry best practices, but it is also flexible enough to be customised according to the unique functional processes of the business, and any customisations that are required due to compliance, regulatory, reporting or legislative requirements which is not met by the software by default.
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