ERP system - The leading UK stock-focused system

What is ERP and how does it work?

An ERP (Enterprise Resource Planning) system is a comprehensive software solution designed to centralise and streamline all aspects of a business’s operations. By integrating various functions, such as sales, procurement, accounting, inventory management, customer relationship management (CRM), and more, this system enables seamless communication between different departments. This interconnected approach allows businesses to operate more efficiently, enhance collaboration, and make data-driven decisions that drive growth.

Implementing an Enterprise Resource Planning system offers numerous benefits for your organisation, including:

Increased efficiency: By consolidating multiple processes and systems into a single platform, an ERP system eliminates the need for manual data entry, reduces the risk of errors, and boosts overall productivity.

Enhanced collaboration: With a unified system in place, different departments can access real-time data, allowing them to collaborate effectively, share insights, and make informed decisions that benefit the entire organisation.

Real-time visibility: An ERP system provides a holistic view of your business operations, granting you real-time access to critical information and allowing you to identify areas of success, potential improvements, and overall performance trends.

Scalability: As your business grows and evolves, an ERP system can be adapted to accommodate new functions, requirements, and market changes, ensuring your operations continue to run smoothly and efficiently.

Data-driven decision-making: ERP systems offer access to valuable data and business intelligence tools, empowering you to make informed decisions that drive growth, innovation, and success.

Where did ERP begin?

Created in the 1960s, ERP systems were originally known as Material Requirement Planning MRP software, which ran on huge mainframe computers and was only affordable to larger businesses. It helped companies balance factory production with inventory management, enabling them to keep their stock levels low and reduce the amount of money tied up in warehouses.

The software soon expanded beyond manufacturing and stock control, integrating with other back-office functions such as finance, order management and distribution. It had moved on to become a more affordable and available solution, with businesses beyond the manufacturing industry making use of a connected operational platform. By the mid-1990s, governments and non-profit organisations had also begun to use the systems.

Today, Enterprise Resource Planning ERP software has become more advanced, offering powerful real-time performance insights, while helping to significantly reduce paper-based processes.

Why does my business need an ERP system?

Choosing a software solution is an important strategic decision businesses must make as they grow. Companies want to ensure they get a fast return on their investment, and partner with the right supplier. However, with a lot of software jargon out there, decision-makers can often struggle to see what exactly is being proposed and ultimately understand the benefits of ERP that are on offer.

For businesses just starting out, they can usually cope with managing information across multiple platforms and spreadsheets. However, as operations scale and complexities grow, this approach can become costly, time-consuming and prone to problems. It’s at this point that you’ll likely start looking for ways to keep up with increasing customer demand and avoid data mismanagement. Many business turn to what is known as an Enterprise Resource Planning system.

ERP systems are the backbone of organisations. They make sure that every department is working together efficiently and consistently.

How to integrate ERP into my business?

A critical aspect of integrating an ERP system into your business is choosing the right technology provider, one that not only takes the time to understand the nature of your industry and your day-to-day operations, but also to understand your goals, strategy and culture.

Our specialist team provides unrivaled support and partnership, while ensuring you achieve the maximum benefits of your ERP functionality through increased automation. If you’re interested in talking to an expert about integrating your own operation with OrderWise, speak to one of our ERP solution experts.

What are the different types of ERP system?

On-Premise ERP: On-premise ERP systems are installed locally on your organisation’s hardware and servers. On-premise ERP systems are best suited for larger enterprises with complex requirements and dedicated IT teams.

Cloud-based ERP: Cloud-based ERP systems are hosted on the provider’s servers and accessed through the internet. Cloud-based ERP systems are scalable, offer real-time data access, and can be easily updated. They are ideal for small to medium-sized businesses and organisations that prioritise flexibility and accessibility.

Hybrid ERP: Hybrid ERP systems combine the features of both on-premise and cloud-based ERP systems. They offer the customisation and control of on-premise systems while leveraging the scalability and accessibility of cloud-based solutions. Hybrid ERP systems are suitable for organisations with unique requirements or those undergoing a digital transformation.

Industry-Specific ERP: Industry-specific ERP systems are tailored to the unique needs and requirements of specific industries, such as manufacturing, retail, healthcare, or construction. These ERP systems come with pre-built modules and features that address the specific challenges and processes of the targeted industry, reducing the need for extensive customisation.

Modular ERP: Modular ERP systems allow organisations to pick and choose the specific modules and features they need, creating a customised solution that aligns with their unique requirements. This type of ERP system is suitable for businesses with specialised needs or those looking to gradually implement an ERP system by starting with specific functions.