When one reads the term ERP, especially in the Singaporean context, one would naturally think of the Electronic Road Pricing system. However, ERP in the digital sense of the global definition is actually Enterprise Resource Planning.
ERP has come a long way since the 1990s when companies expanded and needed solutions for the better management of their resources and data processing. The introduction of ERP helped to organise business processes and streamlined information (i.e. human resources, finance, procurement, distribution, etc) for business owners to more efficiently integrate their existing systems and data-management.
Gone are the days of traditional business and stores whereby it could be managed by a single individual, whose role could be the accountant of the business, the logistics officer for the products or even the payroll master for the employees.
Modernisation and digitization of businesses removes the need for numerous headcounts within a company and instead, relying on ERP innovations for efficiency and outreach to better processes and workflows.
The impact and advantages could be further highlighted in the pandemic situation of Covid-19, forcing many physical businesses to temporarily shut their gates. Such businesses may have no choice but to cease operations and to lay-off workers; however, online business and physical business which have utilised ERP prior to the pandemic
found themselves in stable positions and continued to thrive under minimal disruptions.
In the recent context of Covid and ERP implementation, a major eatery group in Singapore scored distinctions in transforming its business to an-ERP based platform. Not only did it create more up-grading skills opportunities for its staff, it also improved their digital literacy and corporate skill-sets to take the business to a higher level in a precarious and fast-moving era. In support of such an effort in transition and transformation, the eatery group was awarded the SkillsFuture Employer Awards. This Award is an initiative by the Singapore Government to credit and distinguish any organization as an outstanding employer that emphasizes employees’ skills development. It is a prestigious symbol of excellence and helps the company gain a competitive edge in talent attraction and retention.
ERP has also taken the evolution route to be managed in cloud-based systems. Transferring of data management into cloud servers frees up actual premise and location constraints. The internet world is 24/7 and any information could be retrieved at the click of a button. This solves the issue of company expansions or re-locations and even mitigates issues of employees not being on-site.
Digitization, online services and cashless mode of payments are the new norms in the livelihoods of many. The conveniences and efficient manner of transactions are welcomed by mainstream businesses and with Covid, many small businesses have hopped onto this transformation as well. Such operations can only be enhanced even further with the implementation of ERP and it is no wonder that the number of business, even the smaller ones, are tapping into the functions of ERP.
The pandemic has brought about inconveniences to our lifestyles and business but those who innovate continue to thrive. Whilst we turn ourselves into remote working stations, ERP-based businesses continue to function under minimal human interventions and disruptions.
The way forward will see leaps and bounds in numbers for ERP implementations and refinements in the world of business. The speed in which global businesses are tapping the advantages of ERP can only accelerate further.
Are you losing out in the ERP implementation of your company? Perhaps it is time to not think; and to take action. God speed.