What Should Your ERP Do For You?

With the right planning, you can maximize your treasury department’s efficiency by making full use of your enterprise resource planning system.

There’s no shortage of reasons to look for an enterprise resource planning (ERP) system. Perhaps your new accounting software isn’t compatible with your old HR system, or you’re working with other disparate systems. Maybe your business has grown through mergers and acquisitions and now you need to reconcile multiple systems. Alternatively, you may already have an ERP, but it’s focused on supporting production and sales, not necessarily treasury and its operations.

While an ERP is capable of addressing all of these issues, it’s important to critically examine the problems you want it to solve. That means looking at your business’ internal pain points and determining their causes so you don’t invest in a robust system when you simply need to repair some flawed processes.

If, indeed, your business needs a more effective ERP, you’ll want to optimize the one you choose. That begins with familiarizing yourself with the capabilities and following potential benefits of ERPs.

With these capabilities in mind, you shouldn’t just consider how an ERP works, but how it will work for you. Establish your goals for the investment, as well as key performance indicators with your workflows to evaluate your ERP. This way, you’ll not only be able to choose the best ERP for your company, but also get the most out of its capabilities.

Contact your relationship manager or fill out the form below to get in touch to discuss your ERP journey—whether you’re looking for your first ERP, have a basic ERP and are shopping for a more robust offering or simply want to better utilize your current system.

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