What is ERP?
ERP, or Enterprise Resource Planning, is a way of utilizing technology in order to better manage business processes. Today ERP tools are typically in the form of software that unites multiple business components into one single package.
ERP software includes a financial or accounting module, and several other modules such as manufacturing, distribution, sales and service, and customer relationship management. The idea behind an ERP is to gain efficiency and decrease cost by having end-to-end visibility of your revenue impacting business operations.
Not all ERP programs, however, are created equal. There is software that can simulate an ERP experience by integrating one software into another completely separate software program. Some companies have all of the components, but they are piecemealed together so that an organization can choose only certain components. MasterTools, however, is comprehensive -- giving you a full ERP out of the box.
The question now becomes does your company need an ERP?
These are just some of the reasons that your company may consider moving to an ERP. Fundamentally, if you are looking for ways to increase efficiency, decrease production costs, and streamline your accounting, it is worth looking into what an ERP can do for your business.
So, which ERP is right for your company?