ERP (Enterprise Resource Planning) is a business software that helps organizations with daily business activities like project management, accounting, sales, marketing, manufacturing, human resources, inventory management, supply chain operations, regulations compliance, etc. For small and mid-sized business making their way up, investing in ERP software is a matter of contention due to myths around it. One of the prevailing misconceptions regarding ERP is that it is an expensive software that is meant for big organizations and is useful only for executives and management people. The companies that do not use ERP are dependent upon spreadsheets and multiple systems for the different processes like sales, marketing, manufacturing, invoicing, etc. As a result of which, a lot of time and effort goes into keeping every department on the same page. Further, managing data manually not only invites errors but leads to data redundancy. To overcome such everyday challenges, an intelligent ERP like SAP S/4HANA comes into the picture. It is SAP’s 4th ERP Suite which runs on SAP HANA, an in-memory database that can transform businesses through a simplified data model and intelligent automation.
- ERP can help organizations by centralizing the data. If some information is fed in one of the modules, the data in other modules get automatically updated in real-time. Due to this, employees do not need to maintain the datasheets manually and chances of duplicity get reduced. Moreover, since data is centralized, it becomes easier to make quick and better business decisions. An intelligent ERP like SAP S/4 HANA can help companies with real-time insights into data and overcome the conventional barriers of the database.
- An ERP can standardize various processes of the organization by bringing them together at a comprehensive interface. It helps to maintain better control over the data and maintain data security. Apart from this, reducing the data storage footprint is an additional benefit of ERP which otherwise is a demanding and expensive deal. SAP S/4 HANAcan help reduce data footprint quite a bit, with highly compressed data and fewer tables.
- With data-centralization comes added advantage of data analytics and reporting. With ERP, it is possible to perform analysis and generate reports within minutes which otherwise could take days and still lack accuracy. ERP performs accurate predictive analytics based on the organization’s history, current data input, market conditions, and some internal performance indicators. This not only simplifies the effort of the employees but helps streamline all the processes. Companies can do real-time analysis with SAP S/4 HANAas a result of its embedded analytics.
- Businesses can have accurate inventory data with ERP by having control over their logistics and inventory. For instance, when a customer raises a demand, ERP software can help the salespeople by letting them quickly check the inventory without getting to be involved in communication with the inventory and production department. The warehouse functionality of SAP S/4 HANA covers inbound and outbound processes along with all the internal processes.
- Planning accurate production is important to match the customer expectations and the company’s targets. An ERP can help manufacturing companies achieve this by taking into consideration the time needed for unit production, machine capacity, and availability of material. With an intelligent ERP like SAP S/4 HANA, manufacturing companies can monitor the Manufacturing Resource Planning (MRP) process in real-time which helps in decreasing the manufacturing cycle time and increasing the coherence of manufacturing-related functions.
- Achieving regulatory compliance becomes easier with ERP software. Keeping a manual track of legal and regulatory compliance is an error-prone pursuit. Slight human error in this regard can lead to extensive damages including the closure of business. As an intelligent ERP Suite S/4 HANA lets companies manage legal and regulatory compliance throughout the product cycle from the acquiring raw material to delivering the final product with accurate labeling.
SAP S/4HANA is an ERP software that is available in the cloud, hybrid, and on-premise deployment methods and comes with built-in intelligent technologies like AI, machine learning, and advanced analytics. This next-generation business suite is the right solution for organizations to navigate smoothly in the digital economy as it helps them get a grip over all the processes- asset management, finance, manufacturing, R&D and engineering, sales, service, sourcing and procurement, and supply chain. To know more about how it can be beneficial for your enterprise in the above-mentioned ways, click here.
