As an organization, it is important for your software to support your unique business processes. Although there is an abundance of products available on the market, it is important to understand the fundamentals of each solution to help determine which are the right fit for your organization. You may discover that a combination of solutions working together may, in fact, be the best strategy. For this reason, we will explain the relationship between an ERP solution and a BI solution and how the two solutions make for the perfect match!
Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP) is a powerful solution with the ability to integrate your organization’s various departments through data centralization. With your information being centralized in one place, departments are able to use data to support their specific team objectives. This will reduce the challenges of departmental miscommunication and inefficiencies such as duplicate data entry and limited access to data. This solution can benefit many of your organization’s departments (finance, accounting, eCommerce, and more), essentially creating a hub for information and providing one true source of all of your data, with real-time access.
Business Intelligence (BI)
While an ERP solution does a remarkable job at collecting data and consolidating information, it is a Business Intelligence (BI) solution that allows an organization to best analyze all of their data. Your BI solution pulls information from your ERP software to develop analytical data that is easy to comprehend for your full team. The analytical data is presented through dashboards, which provides visibility into forecasts and trends. Due to its ability to leverage company information, BI is highly useful in making strategic decisions for your organization.
All in all…
The combination of the two solutions can greatly enhance your organization. An ERP is effective in its ability to collect and store information, while a BI solution has the ability to analyze the data and help make actionable decisions. BAASS also offers various options for you to further optimize your software through the integrated tools in our Development Marketplace to make your software a perfect fit for you . If you currently have an ERP solution in place - you may already have access to a BI solution that you may not even be aware of. Learn more about ERP at BAASS and see what is available for BI at BAASS.