POSSIBLE ISSUES FOR SMALL BUSINESSES

1. Focused IT Costs

   Although ERP is often a large investment, it can unify your IT costs and improve efficiency.
   Instead of spending resources on multiple systems that all need dedicated staff, infrastructure, support teams and licenses, you can focus all these costs into one ERP.
   Additionally, if you spend more on disparate systems than you would on a centralized ERP, you might even save on IT costs overall.
   Using a single system also reduces training requirements for end-users, since they only need to learn one system rather than interacting with numerous individual applications.
   While an ERP can include numerous functional areas such as customer resource management (CRM), accounting, HR management and supply chain management, the design of the system is to be modular.
   At the core, an ERP is the glue that binds other systems and their data together.

ADVANTAGES OF USING ERP FOR OVERSEAS RECRUITMENT

1. Data Security and Quality

   One of the biggest advantages of an ERP system is data security.
   After all, at the heart of the ERP concept is data.
   Sharing data across functional silos such as customer service, sales, marketing and business development enhances collaboration throughout a company.
   The other side to widespread data access is controlling who can see and edit the information.
   ERP solutions have intrinsic controls to ensure the security of your data.

1. Total Visibility

   This benefit of ERP is one of the biggest selling points for the software.
   ERP allows total access to every important process in your business by making data from every department easily accessible to you and your senior management.
   For example, you can monitor inventory levels on a daily basis, including future consignments that are yet to be received and inventory currently in transit.
   By knowing precisely where you stand regarding inventory levels, you can control your working capital on a more precise level..

1. Improved Collaboration and Workflows

   Collaboration is an essential part of a thriving business.
   But more often than not, companies find their teams working in silos simply because collaboration requires more time and effort.'
   But ERP makes collaboration a piece of cake. An ERP platform streamlines the process of collaborating with others by providing employees with access to the data they need when they need it.
   They do this by providing an interdepartmental database, where information from each department is funneled into one centralized location.

1. Improved Reporting and Planning

   Along with improved visibility, better insight is a major advantage of ERP.
   Implementing an ERP suite across departments means your organization has a single, unified reporting system for every process.
   By having a single source of truth, an ERP system can readily generate useful reports and analytics at any time.
   This software gives you the ability to analyze and compare functions across departments, without the hassle of multiple spreadsheets and emails.
   One of the most popular reports involves finances (go figure). Standard financial reports such as income and cash flow statements generally are built-in ,and custom reports can be quickly generated without IT intervention.
   

1. Standardized Business Processes

   Most ERP systems are developed according to industry best practices.
   These tried-and-true processes bring major benefits to the table for businesses of all sizes.
   It also allows businesses to standardize their own processes and systems, which further enhances productivity and efficiency.

1. Complete Customization

   One of the biggest advantages of enterprise resource planning software in the present day is its modular makeup.
   Most ERP vendors offer several applications that can be implemented together according to business needs.
   Barring a few exceptions, each application is designed to be able to stand alone or integrate with the larger suite.
   This way, your company can pick and choose which components work best and can leave out what you don’t need.

1. Facilitated Regulatory Compliance

   One of the most difficult ongoing tasks for businesses is meeting compliance requirements.
   Maintaining perfect accuracy within your financial records isn’t exactly easy, but needs to be done nevertheless.
   ERPs aid in regulatory compliance by virtue of secure and validated data, combined with built-in reports.
   These reports can also be automated to reduce the cost of continual audits.
   Additionally, many ERP vendors take specific regulations into account such as the Sarbanes–Oxley Act (SOX) and the Federal Information Security Management Act (FISMA).

1. Improved Efficiency

   Along with reduced IT and training costs, an ERP can reduce the time and effort required by your workforce to carry out their daily activities.
   Properly implemented, an ERP can greatly reduce or eliminate repetitive manual processes, thus freeing up team members to focus on revenue-affecting tasks.
   The system likewise can aid in the adoption and enforcement of industry best-practice processes, aligning all actions across the enterprise.

1. Improved Supply Chain Management

   For companies that deal with the moving of physical inventory and production, an ERP system bolsters supply chain management in a variety of ways.
   This improvement results in shortened lead times, more on-time deliveries and many other benefits that enhance the overall operation and success of your business.
   Through a well-designed ERP platform, your supply chain can become better and more responsive via improved demand forecasting, inventory management, procurement and more.
   A streamlined supply chain also facilitates manufacturing innovations, which can help you reduce costs and develop exciting new products that give your business the competitive edge it needs to stay ahead.

1. Customer Service

   Your company’s clients also receive ERP system benefits, even if they don’t know it.
   Because client information is centralized and streamlined, your sales team will be able to focus on building and maintaining customer relationships instead of maintaining spreadsheets.
   At the end of the day, the number one thing a business should be concerned about is customer acquisition and retention.
   Through the end-to-end tracking and insight offered by an ERP, you can provide better customer interaction from targeted marketing all the way through late-phase customer service.
   Most up-to-date ERP suites also support eCommerce integration.
   This means your business will be better able to handle web-based order processing and client interactions. Compare Top ERP Software Leaders

1. Superior Scalability

   To ensure the ongoing success of your business, you have to keep an eye on the future.
   All too often, businesses fail to plan properly and experience serious growing pains that pose serious roadblocks to whatever progress they’re enjoying.
   Having a system in place that can elegantly and efficiently accommodate your company’s growth is of the utmost importance, and the right ERP system makes it easy.

POSSIBLE ISSUES FOR SMALL BUSINESSES

1. Focused IT Costs

   Although ERP is often a large investment, it can unify your IT costs and improve efficiency.
   Instead of spending resources on multiple systems that all need dedicated staff, infrastructure, support teams and licenses, you can focus all these costs into one ERP.
   Additionally, if you spend more on disparate systems than you would on a centralized ERP, you might even save on IT costs overall.
   Using a single system also reduces training requirements for end-users, since they only need to learn one system rather than interacting with numerous individual applications.
   While an ERP can include numerous functional areas such as customer resource management (CRM), accounting, HR management and supply chain management, the design of the system is to be modular.
   At the core, an ERP is the glue that binds other systems and their data together.

2. Total Visibility

   This benefit of ERP is one of the biggest selling points for the software.
   ERP allows total access to every important process in your business by making data from every department easily accessible to you and your senior management.
   For example, you can monitor inventory levels on a daily basis, including future consignments that are yet to be received and inventory currently in transit.
   By knowing precisely where you stand regarding inventory levels, you can control your working capital on a more precise level..

3. Improved Reporting and Planning

   Along with improved visibility, better insight is a major advantage of ERP.
   Implementing an ERP suite across departments means your organization has a single, unified reporting system for every process.
   By having a single source of truth, an ERP system can readily generate useful reports and analytics at any time.
   This software gives you the ability to analyze and compare functions across departments, without the hassle of multiple spreadsheets and emails.
   One of the most popular reports involves finances (go figure). Standard financial reports such as income and cash flow statements generally are built-in ,and custom reports can be quickly generated without IT intervention.
   

4. Complete Customization

   One of the biggest advantages of enterprise resource planning software in the present day is its modular makeup.
   Most ERP vendors offer several applications that can be implemented together according to business needs.
   Barring a few exceptions, each application is designed to be able to stand alone or integrate with the larger suite.
   This way, your company can pick and choose which components work best and can leave out what you don’t need.

5. Improved Efficiency

   Along with reduced IT and training costs, an ERP can reduce the time and effort required by your workforce to carry out their daily activities.
   Properly implemented, an ERP can greatly reduce or eliminate repetitive manual processes, thus freeing up team members to focus on revenue-affecting tasks.
   The system likewise can aid in the adoption and enforcement of industry best-practice processes, aligning all actions across the enterprise.

1. Customer Service

   Your company’s clients also receive ERP system benefits, even if they don’t know it.
   Because client information is centralized and streamlined, your sales team will be able to focus on building and maintaining customer relationships instead of maintaining spreadsheets.
   At the end of the day, the number one thing a business should be concerned about is customer acquisition and retention.
   Through the end-to-end tracking and insight offered by an ERP, you can provide better customer interaction from targeted marketing all the way through late-phase customer service.
   Most up-to-date ERP suites also support eCommerce integration.
   This means your business will be better able to handle web-based order processing and client interactions. Compare Top ERP Software Leaders

ADVANTAGES OF USING ERP FOR OVERSEAS RECRUITMENT

1. Data Security and Quality

   One of the biggest advantages of an ERP system is data security.
   After all, at the heart of the ERP concept is data.
   Sharing data across functional silos such as customer service, sales, marketing and business development enhances collaboration throughout a company.
   The other side to widespread data access is controlling who can see and edit the information.
   ERP solutions have intrinsic controls to ensure the security of your data.

2. Improved Collaboration and Workflows

   Collaboration is an essential part of a thriving business.
   But more often than not, companies find their teams working in silos simply because collaboration requires more time and effort.'
   But ERP makes collaboration a piece of cake. An ERP platform streamlines the process of collaborating with others by providing employees with access to the data they need when they need it.
   They do this by providing an interdepartmental database, where information from each department is funneled into one centralized location.

3. Standardized Business Processes

   Most ERP systems are developed according to industry best practices.
   These tried-and-true processes bring major benefits to the table for businesses of all sizes.
   It also allows businesses to standardize their own processes and systems, which further enhances productivity and efficiency.

4. Facilitated Regulatory Compliance

   One of the most difficult ongoing tasks for businesses is meeting compliance requirements.
   Maintaining perfect accuracy within your financial records isn’t exactly easy, but needs to be done nevertheless.
   ERPs aid in regulatory compliance by virtue of secure and validated data, combined with built-in reports.
   These reports can also be automated to reduce the cost of continual audits.
   Additionally, many ERP vendors take specific regulations into account such as the Sarbanes–Oxley Act (SOX) and the Federal Information Security Management Act (FISMA).

5. Improved Supply Chain Management

   For companies that deal with the moving of physical inventory and production, an ERP system bolsters supply chain management in a variety of ways.
   This improvement results in shortened lead times, more on-time deliveries and many other benefits that enhance the overall operation and success of your business.
   Through a well-designed ERP platform, your supply chain can become better and more responsive via improved demand forecasting, inventory management, procurement and more.
   A streamlined supply chain also facilitates manufacturing innovations, which can help you reduce costs and develop exciting new products that give your business the competitive edge it needs to stay ahead.

6. Superior Scalability

   To ensure the ongoing success of your business, you have to keep an eye on the future.
   All too often, businesses fail to plan properly and experience serious growing pains that pose serious roadblocks to whatever progress they’re enjoying.
   Having a system in place that can elegantly and efficiently accommodate your company’s growth is of the utmost importance, and the right ERP system makes it easy.