Enterprise Resource Planning (ERP) System
To handle the ever-increasing volume and frequency outgoing and incoming data, a business needs to have an effective management system. Even for small businesses, where business operations are still uncomplicated, various business processes can be made as efficient as possible. Gone are the days where document filling and other demanding and more important operations such as data entry and data analysis were done manually. The best management that I would recommend for any growing business is the enterprise resource planning (ERP) system. ERP, unlike its counterpart Microsoft Excel, allows more operations to be done in a more efficient manner. ERP has features that allow integration of important business processes such as sales, inventory, finance and marketing into a single system that is easy to manage. Although the excel spreadsheet is a very useful accounting and record-keeping tool, it has fewer functionalities as compared with ERP. It is, therefore, slowly becoming an out-dated method of managing business operations and it has been overtaken by more versatile ERP systems and other digital applications.
The greatest advantage that the ERP system has over Microsoft Excel is that it allows the tracking of business information in real-time without the need to have multiple spreadsheets. This allows automation of sales order creation and more efficient data retrieval and sharing between departments. Errors of double and lost data are therefore eliminated.
Another advantageous feature that the ERP system has is the abundant data analytics tools. Although excel has data analytic tools, these tools cannot perform complicated operations in the modern business environment. ERP system comes with hundreds of reports and analytical tools that allow one to analyze customer behavior and customer trends in a more effective way. Don't use plagiarised sources.Get your custom essay just from $11/page
Moreover, ERP allows the manager to analyze the performance of the employees in comparison with the project costs anad timelines. This is enabled by multiple user dashboards that provide a graphical representation of various business metrics. With this, the team can be adequately supervised and provided with crucial information that can enable the business to meets its targets.