Singapore attracts investors, professionals and entrepreneurs alike to set up their companies here due to its easy and flexible tax paying rules. The establishment is hard working and completely uncorrupted. Any set up that promises profit generation is welcomed with open arms. Software’s that aid the use of work and the processing of data in companies are immediately adopted and recommended for use. Such has been the case with Microsoft ERP.
Enterprise Resource Planning is a tool of today’s business world. It is being used the world over for its huge potential. By simply integrating all the previous independent applications of a business, it has created a single platform where any command can be full filled. Before, the major systems of any business such as accounts, finance, inventory, sales etc. had no means of communication between them due to which the work was time consuming and had huge chances of error.
Now, a single real-time interface is provided to the user where any order is completed, at any time or any place. A detailed picture of the workflow can be seen by the user with any query answered immediately. Previously, if a customer requested for a product, it was tedious work to get all information from the warehouse. Now with a single click on a detail of the product, its amount, and location can be viewed by the requestor. Microsoft ERP streamlines the workflow of a business. The systems due to open communication between them respond to any query and work efficiently. These days, they are also being offered in the form of cloud computing which has changed how the game is played.
On the other hand, it is also prudent to analyze the flip side. For those companies that are still apprehensive about the use of such a software, what are the causes of their concern? Firstly, the software is without shred of doubt, expensive. So, for those businesses that need to weigh in their profits to the cost of ERP, with the latter being on the heavier side, ERP might not be the solution. Then, as far as the customization of the suite of ERP is concerned, it is not that easy. Which means according to one’s business setup the applications of ERP might not be able to fully adopt.
There is also a chance of making faulty decision about the type of software being purchased for one’s specific business. Any wrong decision here can cost more than money. Some companies do not offer full access to information to all their departments, due to which the software can be hindered to work up to its full potential. Lastly, the cost of maintenance and update of ERP sometimes bypasses the purchase which is causes lots of companies to use outdated versions of the software. This certainly takes a hit on the revenue.
It is advised therefore, to analyze the type of set up one has and to select exactly the type of software that matches it. ERP better suits medium to large scale business set ups. For smaller companies, alternate and cost-effective options should be chosen. If these considerations are considered, a fit use of ERP can be made.