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Do you need ERP?

Are you sitting at your desk reading the annual reports you just received about the previous year that ended 6 months ago? Is your business growing rapidly and you need data on a real time basis? Is it now growing as fast as you’d like and you cannot seem to figure out why?

If any of the answers are yes, you need a new ERP! ERP (or Enterprise Resource Planning) is a business process management tool that allows a company to use integrated software to display up-to-date information about the accounting, finance and operations of a business.

Using systems such as Acumatica will allow you to oversee the company through any computer, smart phone or tablet and display current information about your company’s finance, accounting groups and operations. This is key for each department because it is important for those departments to understand what is occurring around them. The operations department needs to know the budget of projects which are formed from the finance department and the accounting department needs to know the spending and income from the finance department to calculate profit. Obtaining this information used to take hours or days because it required both parties to communicate and search for the files they needed to process. These are only two of many different reasons departments need to understand each other better.

What does this have to do with ERP? ERP cloud based software allows each of these departments insight to each other. Using ERP software each department can have access to real time data that will not slow down production of other departments because it only requires each party to access the system and view the needed files.

The business world is a fast-paced environment, and developing a business is not an easy task. Using an ERP system can help ease the stress of your business and promote efficiency. Start reading annual reports at the end of each year instead of June of the next year.

Matt Painter Anderson High School in Austin, Texas. He is currently an honors sophomore at the University of Alabama, seeking an Accelerated Master's Degree in Operations/Supply Chain Management in the Culverhouse College of Business. As a freshman, he was selected as an Ambassador for the college. He is also a member of Kappa Sigma Fraternity and serves on the Scholarship Committee. His internship at TRI is ongoing as a blog contributor and assistant to the marketing director.

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