Ever since Enterprise Resource Planning or ERP was introduced in the nineties, its popularity has increased by leaps and bounds. In fact, many experts consider it as an essential management tool. ERP informs as well as facilitates decision-making and planning processes. It constitutes of a transactional database that can be seen through something known as dashboards. Nevertheless, there have been various misconceptions about ERP in several quarters as it evolved and developed Check out some of the top myths related to Enterprise Resource Planning.
When a business selects an Enterprise Resource Planning system, it also needs a team for implementation. IT individuals and software providers dork very closely for facilitating in-house implementation. Choice of the vendor should also include the capability of testing the sample of an ERP system prior to buying it, software upgrades, ongoing training sessions and available technical support.
Myth 2: ERP is only meant for bigger organizations
In the beginning, only bigger companies opted for ERP systems as is the case of any new technology. But, the current ERP systems can operate effectively in small and large businesses equally well. In fact, many ERP systems are highly suitable for varying customer sizes since most businesses are more similar than they would like to believe. After all, the fundamental idea of data integration from multiple functions in a company is universal.
Myth 3: ERP system is costly
Getting a license for ERP software is just a small fraction of the overall cost of system implementation. The factor, which shoots the system’s price, is a lack of proper preparation while setting up the requirements of a business and selecting an incorrect ERP system for a business. Running your company using spreadsheets may eventually turn out to be more expensive for you rather than deploying an integrated ERP system for your firm.
Myth 4: Customization of ERP system is not easy
This is also not correct. The evolution of ERP software and its subsequent development have established a strong requirement of adaptability. If a business has deployed ERP software and it functions well, there could be new ways of workings in the future since business needs keep changing. Even after a system is implemented, the concerned product manager may find out that an extra module for material planning is required. ERP is about modifying and growing with the emergence of new ideas.
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