Modern problems require modern solutions, a phrase that is ever relevant for businesses in a constant evolving technological landscape. With so many different options, businesses needed a solution that offer all the options in a single system. Enterprise Resource Planning (ERP) System is used to streamline and integrate data from across the whole company to one centralised system, that supports the whole enterprise. The Primary purpose of an ERP system is to enhance all aspects of key operations, that usually would be separated by legacy systems, into a coordinated centralised one. ERP system are usually designed in modules that specialise in different business processes while being fully cross-functional.

Reasons for implementing an ERP system:

• If the company is currently having business problems or unsolved business question.
• If the company is planning on changing its current business module, to either modernise or expand. This can lead to the legacy systems currently in use to become ineffectual or redundant. In the everchanging software landscape software even as old as 2 years can be considered legacy.
• If the company is in need of additional functionality.
• If the company has many different systems for each process, this can greatly reduce the efficiency of the entire business.
• If the company wants to make legal compliances, such as government laws or audits, simple to implement and find.

Advantages on implementing an ERP system:

• Data integration, this is the ability for information to be synchronised between systems. This reduces the risk of inaccuracies and redundancies in the data, validation the data between different systems is also removed.
• Real time information access, once the data is captured by the system, it is readily available to all users who have access to the system irrelevant of department or location. This can make workflow of business process run smoothly.
• ERP system are always designed with current best practices, which is derived through heavy investment of research from the developers.
• ERP system can reduce the operational cost and increase revenue.

Choosing a specific ERP may seem difficult due to having multiple options, but this can be simplified using the tier process. There are 3 major tiers in ERP vendors. The first tier handles multinational companies, usually having over 1000 employees and revenue over a $1 billion dollars. Tier 2 vendors usually work well with small-to-medium-sized enterprises (SMEs). SMEs usual have between 250 to 1000 employees, with over $50 million in sales. Finally tier 3 venders work well with small companies with less than 250 employees and over $10 million in revenue. Depending on the size of the company, a suitable ERP can be found to increase efficiency, growth and revenue. iOM has years of experience and expertise in catering to the different tiers mentioned as a pioneer in the field of ERP implementations. Our expertise includes ERP Solutions by renowned Principles such as Oracle, Acumatica, Sage, Syspro and Infor.

Bibliography

Bradford, M. (2014). Modern ERP: Select, Implement, and Use Today's Advanced Business Systems (3^rd ed.). Lulu.com.