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ERP Business Advisory

Why is ERP software useful for companies?

ERP Business Advisory will help you to choose the correct software to streamline and manage your business processes. ERP which stands for Enterprise Resource Planning is a type of software that is used by many businesses.. If we switch the acronym ERP and make it PRE we could explain it as a company that is using software to plan the resources they have within their enterprise.

Resources in this example could be a finance department, human resources department, logistics and supply chain operation, manufacturing and production facilities.

Any area of the business that has a function that can be turned into a business process can use and benefit from a software tool like ERP.

ERP Business Advisory Examples

A finance team has to do daily, weekly and monthly accounting. Each day they may have payments coming in and invoices that need to be paid going out. Keeping track of those is an important part of producing a month end financial report.

They will have a team of people either inputting the data or maybe data is scanned into the system and read automatically. The ERP software will be set up by a team of specialist consultants who understand the processes and also importantly, the financial and legal regulations within a specific country.

When implementing an ERP solution it’s wise to seek advice from business consultant firms. These types of companies have very specific expertise gained from implementing ERP Solutions in a wide range of companies and provide different types of business advisory solutions.

This type of advice is critical in making your ERP implementation a success.

Business advisory comes in many forms. For those implementing ERP, it’s important to understand the various processes in finance, manufacturing, logistics, and production.

Having experts in each of these areas is vital to make sure that all of your processes are working together as one.  You can visualize this as separate cogs working in one large machine.

How can you use ERP to support manufacturing and production?

We looked briefly at a simple example of how ERP software supports a finance function but how does a company that manufactures and produces its own products benefit from using this type of business software?

A product may have various components needed to build the finished product. Let’s take a TV as an example.

A TV will need a screen, frame, cable, circuit board and some jack points for various cables like scart and HDMI. These components could be produced on-site or they could be purchased from an external supplier.

So to make a TV there needs to be a process, but you cannot make a TV if you don’t have an HDMI port. So if the company producing the TV does not make their own HDMI ports then they have to source them from an external supplier. This means the financial department needs to raise an order to buy them and pay an invoice to purchase them.

Delivery dates are agreed and the HDMI ports are shipped from the supplier. Now the company know they will receive 1000 HDMI ports so they can plan exactly when they can make/complete the 1000 TV’s.

ERP software is the tool that pulls all of this information together and then produces reports to show when the next 1000 HDMI ports need to be ordered in time for production not to stop. If a component is not available and that stops the process it means employees and machinery are lying idle. It also means that the company cannot ship the finished product and therefore cannot invoice their end client and generate revenue. 

Using an external consulting company that has already advised on similar projects can save lots of time and money.

Contact us today for a complimentary business advisory session explaining how adding or upgrading an ERP software tool can decrease marketing costs and improve your bottom line.

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