How ERP Works: Video Explainer
Want to know how ERP works? We’ve put together this short explainer video so you can learn what you need to know about ERP—all in just one minute!
Watch the video to get an idea about the basics of how ERP works, then consider downloading our eBook, “Fast-Tracking Your Digital Transformation”, to learn more about how you can start thinking about your company’s digitization.
Why Is ERP Significant to Businesses?
Understanding how ERP works is important for business leaders today.
It’s not overstating the matter to say that the kind of connectivity that an ERP system provides is essential for the business operations of a modern organization.
And that’s effectively what an ERP solution is about—connecting data and applications across a company to make better use of your information and keep data silos to a minimum.
When we talk about digital transformation, it can be easy to get caught up in the myriad of acronyms and business-speak, but at its core DX is about using technology to solve basic (often long-standing) bottlenecks in an organization.
These bottlenecks and inefficiencies most often present themselves in everyday working processes, such as data retrieval, communication, and workflow.
ERPs present new opportunities for companies, particularly as it pertains to the use of large data sets common in almost any business today.
Despite the fact that even SMBs possess more information than ever, the ways they use that data is more often lacking than not.
NewVantage found that just 27% of businesses in 2020 consider their work environment to be “data-driven”, with 73% citing big data management as an ongoing challenge for their operations.
Implementing an ERP system is the first step a business should take to unify their company’s data and start leveraging it to establish actionable data that can be used to inform decision making in a more effective way.