In a country that pays serious consideration to the type and amount of businesses it owns and runs; Singapore is open to all types of innovative and up to date ideas that boost revenue. IT specialists are forever on the lookout for better and improved management tools in such companies. ERP has been a wondrous software comprising of a suite of applications that help in the processing of a business daily. Standing for, ‘enterprise resource planning’, this software has been hailed internationally for nonparallel and comprehensive processing techniques that connect the user on a real-time interface with the customer and the order or command is done in a timely fashion. It is the game changer of how a business works in today’s time. But it is also of paramount importance to see the other side of the story as well.
Singapore is a rich country. Its GDP comprises hugely of the revenue generated by manufacturing goods in the industries. Small scale businesses and young entrepreneurs are encouraged to shape their companies and support is provided. It attracts lots of investment internationally due to its non-corrupt and hardworking labor. Thus, a country such as this needs to maintain its business position in the world and for that it needs efficient working systems in all departments. Undoubtedly, ERP has been welcomed into the companies here in Singapore with open arms. Large scale businesses have adopted it into their portals. But there is still some limitations of using Microsoft Enterprise Resource Planning, such as:
- It is very important to look for the specific type of ERP system that is required for one’s specific Company. A wrong bargain can cost more than money.
- For small to medium sized businesses, the suite of applications in ERP can’t be customized entirely for ease of use. And for those applications that are not required the user just pays extra.
- ERP systems are very costly. They cannot be easily affordable by many.
- For the overall best work output, every individual application of ERP requires error free data. Therefore, if there is a chance of error, the output of the company can come out to very low.
- A company sometimes does not allow free access to all information to all employees due to some security reasons, which can limit and hinder ERPS’s full potential.
- Sometimes due to the high cost of upgrading ERP, some companies keep using the same outdated version over a long period of time. A normal ERP system requires an update after 5 years. This has seemed to lower revenue generation.
- If the overall workflow of how an ERP system is not understood completely by the IT team, then there is no doubt they will be faced with a lot of challenges dealing with the complex nature of the software. For it to work with full potential, a complete know- how of how the software works must be learnt.
By keeping the aforementioned points in mind, when getting an ERP that best fits the needs of the company, there is no doubt that the software of today’s age can help boost the profit generation.