The Pros and Cons of Using an ERP System for Document Management
ERP or Enterprise Resource Planning systems are dedicated suites of customizable applications that help in integrating business data while improving the overall processes related to document management & process management. ERP systems are known to help executives in managing key operations as well as data across core departments of the organization –including HR, accounting, CRM, procuring, compliance, risk management, supply chain operations, and so more.
If you are running the organization without implementing ERP systems, then you can expect to deal with issues related to operations & data management. In this post, we will help you understand the importance of a dedicated ERP system for document management.
How Does an ERP System Work?
Usually, enterprises tend to be organized in the form of siloed, decentralized systems. Every business unit is known to carry the load for the respective maintenance of local data. However, when other units would require the same data for the respective needs, accessing the same would become a complicated process. The inefficiency of the process gets reflected in inconsistencies, data duplication, and delays.
The ultimate value of the given ERP system tends to be centralized, shared database that is the dedicated hub for the entire organization. The main purpose of the ERP system is to offer a comprehensive, all-round view of both the ins as well as outs of the business. Upon the deployment of the ERP system, every business is known to remain accountable for ensuring local data maintenance. The only fundamental difference here is that there happens to be a single document or system of record for maintaining.
As a matter of fact, around 95 percent of organizations have reported an overall improvement in the process after deploying ERP solutions in the respective document management system. The overall optimization of internal documents as well as processes delivers multiple benefits –right from reduced costs of data maintenance to optimized customer services.
Top Benefits of the ERP System
The deployment of the ERP system for document handling can be vital across all businesses and verticals. Here are some of the benefits to look out for:
- Presence of Unified Data: The major attractive point of ERP is data integration. All of its other benefits are known to stem from the fact that it helps in providing a clear line of sight throughout all departments in the organization. The presence of a single data hub helps in eliminating disconnected documents or systems within the organization. With the help of ERP, data within document handling gets sorted, compiled, and shared with the help of a single, unified system.
- Streamlined Operations & Processes: ERP is known to help employees in the navigation of complex processes by presenting a unified & streamlined flow of business-centric data. Moreover, ERP can also help in automating the most repetitive processes like document management, replying to messages, searching for documents, and so more.
- Businesses might be concerned with the costs of the ERP systems
- It could involve complex data conversions
- Requires in-depth training