Flexibility and quick response
are hallmarks of business competitiveness.
Access to information at the earliest possible time can help businesses
serve customers better, raise quality standards and assess market
conditions. Enterprise resource planning
(ERP) is a key factor in instant access.
Although some think that ERP systems are only for large companies, this
is not the case. Medium and even small companies
can also benefit from the ERP approach.
This is possible if the ERP system being employed is a modular system
where one can implement only the necessary modules and adds more as the
business grows.
The use of information systems to
add value to the organisation is strongly influenced by organisational
structure, culture and change. No system
alone will successfully be implemented if there isn’t a willingness to adapt
and change existing processes. Information
systems teams are the key to unlocking the potential of any new or modified
system. They support the cultural
change within the organisation and guide the business owner on the process to
successfully implement an IT system.
Businesses need to ensure that
improvements or completely new IT systems help lower costs, increase profits,
improve service or achieve a competitive advantage. These can be achieved through the use of
various modules which most ERP systems provide, including accounting, sales,
purchasing, distribution, warehouse management, asset management, project
costings and business intelligence tools.
The smart use of an ERP system in
today’s ever evolving operating environment, where customers, competitors,
suppliers, shareholders, financiers are closer to each other, enables
businesses to have information available on demand consistently. This is
critical for an organisation to not only to survive but to thrive.
For more info visit: www.ptl.com.mt/it/solutions/finance-software-accountingerp
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