ERP stands for Enterprise Resource Planning. ERP is software that replaces multiple information systems across multiple departments. At its core, the primary benefit of an ERP system is that it replaces all the databases that were previously divided into departments such as accounting, payroll and materials management. Ultimately, it provides your organization with a clear line of sight across all departments using one shared database.
With ERP software, a single database can service the entire business. ERP software monitors revenue and expenditures, orders, materials, and staffing. All these functions can be accessed through a single user interface. User-friendly dashboards and built-in analytics help executives make better decisions. Access to data is controlled by user permissions providing your employees access to the data they need to successfully execute their job.
The primary benefit of a Cloud ERP system is the ability to automate essential business functions with a low entry cost and easy implementation, making ERP a high ROI investment for most businesses.
Additional benefits of an ERP system include:
With nearly half of rural hospitals facing negative margins, there is an even greater need for faster technology, better insights, and accurate data. With lower costs and advances in the speed of implementation, a cloud-based ERP system is one of the most impactful investments a hospital can make. A fully leveraged ERP system allows small hospitals to operate at a scale that used to be reserved for only the largest institutions.
In the past, there haven’t been many ERP solutions suitable for small to medium-sized community and rural hospitals. These hospitals didn’t have the funds or technical support to build an infrastructure large enough to adopt enterprise-scale ERP software. Rural hospitals began relying on fragmented business software, often with separate products, for handling materials management, finance, payroll, bed census, etc.
Many of these business operations were managed via spreadsheets with reconciliation requiring manual effort or via disparate systems – not providing a complete view of the hospital’s operations. The result was frustration, lack of productivity, overlapping expenses and more.
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