ERP or Enterprise Resource Planning is an important enterprise application that integrates all the individual departmental functions into a single software application.
ERP Systems make it easier to track the workflow across various departments. They reduce the operational costs involved in manual individual systems.
The impact of ERP cannot be downplayed. Globally it is estimated that ERP will serve a market worth approximately 41.96 billion dollars world wide by 2020. This is due to the need for industries and institutions across the world to give their entities competitive edge.
As a university, the importance of ERP systems are innumerable. I wish to just but to touch on few to illustrate the point.
Importance of ERP
Improve collaborations between departments, sections etc within the organization through centralized data base. This provides single source to work from, reduced errors or incorrect data.
A central database of information enhances data analysis and reporting. It also fastens the generation of reporting.
ERP automates tedious tasks and allows employees to work more and more efficiently.
Improves customer satisfaction – ERP incorporates customer relationship management which is customer centered. Provides better Customers interaction, increased throughput, improves customer services
Eliminates the duplication, discontinuity and redundancy in data.
Provides information across departments in real time.
Provides control over various business processes.
Increase productivity, better inventory management, promotes quality, reduces material cost, etc.
Ope-rationalization and Automation of University Processes
The ope-rationalizing ERP system will enhance the efficiency and transparency of the following the functions for the University:
Core functions Integration
Key to the value of an ERP package is the advantage of integration. The University will be able to integrate all its core functions and enable the flow of information across the institution. The teaching functions, the exam management, student bio-metrics etc will be integrated.
Human Resource Management
The ERP system will enhance human resource management of the University and allow better employee experience-from initial recruitment, payroll, performance management, time tracking etc
Supply Chain Management
Through ERP system, the flow and purchases of materials in the University will improve. There will be proper control of stocks, planning, procurement, distribution management, inventory management, warehouse management etc.
Since Business Intelligence (BI) has become a standard component of most ERP packages, the university will immensely benefit the system. Business Intelligence tools will allow users in the university to share and analyse the data collected across the departments and centralized units in the ERP database. This enhances informed decision making by everyone, from top management.
At the core of ERP are the financial proceses which the university will benefit. These include budgets, accounts receivables, accounts payables, fixed asset management, cash-flow, expense and even tax reporting.
This modern landscape has increasingly become fast-paced and risk averse, making it difficult for institutions to keep up with change. By using ERP systems, we can be assured of accelerating the Universities operations towards the 21st Century as we endeavor to achieve efficiency in our performance.
With those few remarks, therefore, I declare this training officially opened.