What you need to know about the benefits of ERP software solutions
What is an ERP?
ERP stands for Enterprise Resource Planning and refers to ERP software solutions that have been designed to help manage everyday functions through streamlining and automating daily operations which often include Human Resources, Payroll, Finance and other departments. Initially, ERP solutions were designed for manufacturing companies but have since extended to include hospitality, health care, financial services, government, and education.
ERP software solutions typically operate on an integrated software platform using common data definitions running on a single database. By collecting an organization’s shared transactional data from multiple sources, ERP software can eliminate data duplication and provide data integrity through a single source.
With the worldwide ERP software market per year exploding—taking in more than $25 billion per year and growing rapidly at 10-20% every year (G2, Learning Hub), the time is now to start thinking about investing in an ERP software solution. Specifically, for schools, divisions, and districts, we have seen how new challenges can quickly arise and expenses can and will often increase.
The Education Industry and ERP Solutions
For the education industry, more specifically, school boards, are required to collect and report on an exorbitant amount of information. This often involves everything from hiring staff, temporary placements, leaves of absences, retirements, funding, student records—the information can feel like it’s endless.
Depending on the size of a school, they might be able to get away with Excel spreadsheets, but not many. With all the data there is to keep track of, it can become quickly overwhelming to monitor and keep up with all the information coming through your school boards, regardless of size. Plus, due to the sensitive nature of managing children, coupled with all the regulatory requirements, it is imperative that school boards have the right systems in place to ensure accuracy, privacy, and compliance.
Benefits of ERP Solutions
Improves Process Efficiency – The benefits of an ERP solution can eliminate repeated processes and can significantly decrease the need to enter data manually, which not only enhances user productivity, but can also eliminate the possibility of inaccurate data and costly errors for your schools.
Streamlined Processes – ERP software automates operations across all departments, providing accurate, real-time information to everyone with access to the solution. ERP increases efficiency and productivity by helping users navigate complex processes, preventing data re-entry, and improving functions such as staff management, student records, and payroll, allowing for streamlined, efficient processes throughout.
Accurate Forecasting – ERP software provides users with the tools they need to create more accurate forecasts. This helps software users think ahead and appropriately plan for what they need—from staffing resources to collective agreement management. Plus, since the information within an ERP is as exact as possible, and updates in real time, it affords boards the opportunity to make realistic estimates and more effective forecasts.
Department Collaboration – Collaboration between departments is a crucial and often necessary part of running a school board or division. With the data entered into your ERP software tool, there is no reason why departments cannot work together, share information, and collaborate, whenever needed. ERP software can touch on almost every facet of school management, thus promoting collaborative, interdepartmental efforts.
Integrated Information – ERP software can act as a central hub for all of the important information that your school board needs to maintain daily operations. No more issues with data spread across separate databases; all information is housed in a single location. This means you can integrate other platforms within your ERP software—keeping data consistent and accurate. There is also no need to worry about whether the information that you are using from the system is accurate, since it is updated in real time across the board. This improves your data accuracy, eliminating potential mistakes with false data and analytics.
Regulatory Compliance – A benefit of the right ERP software, which often times goes unnoticed, is how well it ties into regulatory compliance within education. Powerful ERP platforms are designed to keep track of regulations and monitor changes in compliance. This allows users to stay abreast of any changing laws, regulations, guidelines, and specifications as it relates to collective agreements.
Customized Reporting – With improved reporting capabilities, boards can respond to complex data requests more easily. As well, users can run their own reports without relying on help from IT, saving time to use toward other projects.
Cost Savings – ERP software can reduce operational costs by 23% and administrative costs by 22% (G2, Learning Hub). With a single source of real-time information and the reduction of administrative and operations costs, this allows school boards to direct money in other, much needed areas. ERP software also allows school boards to become smarter about saving and spending, when necessary.
Choose an ERP Software Solution that is purposefully built for K-12 education management.
Edsembli’s mission is to ensure that school boards and districts are spending more of their time and resources focusing on classrooms and students and not on complications arising due to an inadequate ERP system. Our ERP software was built by K-12 education administrators for K-12 education school boards and districts. Therefore, issues surrounding flexibility or trying to use a system designed for use in a different industry, is eliminated.