What is Enterprise Resource Planning (ERP) software?
ERP software is a business management platform that connects financials, reporting, inventory, customers and workforce management, all in one place. For mid-market to enterprise businesses, ERP software re-engineers processes to drive productivity and growth.
The goal of an ERP platform is to work more efficiently, automate routine tasks and increase visibility across an organisation.
Whether you sell products or services, manage clients or building sites, distribute materials or work on the field, you can customise ERP features to suit your business.
How does an ERP system work?
The first step is to go over your unique business challenges. After that, an ERP provider can help you select modules and features to develop a purpose-built solution.
You can choose from features like inventory, payroll, CRM and financial management, and bring them all together in one place.
Cloud-based ERP software keeps everyone in sync, allowing employees to enter and share data instantly. That means managers have a view of important business metrics, anywhere, anytime.
ERP vs. accounting software
The main difference between accounting software and ERP software is that businesses can outgrow accounting software.
Accounting software helps smaller businesses manage basic tax admin and small-scale payroll or inventory. ERP has additional features that can manage complexity and scale as your business grows. Faster and more informed decision-making is supported by more comprehensive data and integrated workflows, providing a competitive edge for fast growing businesses.
ERP software goes beyond the basics to simplify the way you work. Connect growing teams and even manage multiple entities. ERP features are powerful and can be tailored to your unique business. They’re designed to simplify operations, connect worksites, and unlock growth potential.
Signs your business needs an ERP system
ERP need is not determined by a specific number of staff or amount of revenue. Instead, it's defined by the business challenges that you need to overcome.
Common business challenges that lead to ERP implementation:
You rely on disconnected systems that do not speak to one another
Manual processes are taking too long and slowing down business growth
You use spreadsheets or a range of software across your business
You need a clearer view of data to make smarter decisions
Your IT team are overloaded
Small mistakes can cost you lots of money
Staff waste time on manual admin or data entry instead of high value work
If these challenges sound familiar, contact an ERP expert today.
ERP features
With customisable ERP software, you can choose the features you need and tailor them for your industry or business.
Financial management and reporting
Access a clear view of financials and instantly generate reports. This includes tax and cashflow reports, and dashboards displaying income and expenses, sales, purchases, banking and more.
Field services and professional services management
Streamline your processes to manage expenses, clients and field services. Track jobs and service contracts across locations.
Construction management
Efficiently manage budgets, compliance, projects and contracts, anytime from any device. With construction ERP software, you can coordinate multiple construction jobs at once.
Manufacturing operations management
Streamline end-to-end operations. Use a manufacturing-focused ERP system to set up schedules, estimates, and capture total costs and bill of materials.
Inventory and distribution management
Accurately keep track of stock levels and generate reports. Create custom sales orders for an overview of upcoming work, supplier orders and invoicing in one inventory and distribution ERP system.
Project accounting
Keep track of your bills, timesheets, expenses and costs with powerful project accounting software.
Customer Relationship Management (CRM)
Access purpose-built CRM features that connect with the rest of your operations and strengthen customer relationships. Manage leads, sales and marketing activity, customer requests, inventory, delivery tracking and more.
Payroll and workforce management
Automate processes such as timesheets, pay, superannuation, and annual leave. Additionally, ensure that figures are accurate and follow legal and tax requirements. With powerful payroll capabilities and a purpose-built workforce management platform, coordinate teams with ease.
How do ERP systems create business value?
ERP software streamlines processes to help you achieve the next stage of business growth.
By minimising time-consuming data entry, ERP solutions improve efficiency and productivity. Staff will spend less time on complex admin and more time on high-value work.
As a team leader, having complete oversight and control over your business processes is essential to growth. Speeding up reporting, ERP helps you access real-time data to make better business decisions.
Why switch to ERP software?
Visibility across your whole business
Make faster, smarter decisions with real-time dashboards and reporting.
Increased efficiency and productivity
Increase output with automations that streamline time-consuming tasks.
Cloud-connection for faster collaboration
Connect worksites and employees in the cloud and access wherever and whenever you need it. Employees and managers can enter data directly into the ERP system to keep everyone on the same page.
Everything in one place
Connected features and integrations on the same platform for provide seamless workflows.
Future-proofed technology stack
Customise ERP features for today and tomorrow and scale effortlessly.
Want a better way to run your business?
If you’re ready to scale your business with a leading Australian ERP provider, contact MYOB today.
Disclaimer: Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.