ERP Integration—Why It Matters and How It Works
As your organization chooses its next Enterprise Resource Planning (ERP) application, you will likely compare features and functions, read reviews, and speak to references. It’s less common for shoppers to consider integration capabilities as they shop for their next ERP. Why is that?
Here, we explain why ERP integration is an important consideration, debunk some persistent myths surrounding ERP integrations, review various integration options, and share why we believe Sage Intacct may be the best platform to unite your operations.
Why Integration Is So Important
While ERP applications have broad capabilities, few businesses rely solely on one application to power their operations. For example, your organization might also leverage specialized applications such as CRM, eCommerce, HRMS, and business intelligence. Or perhaps you rely on legacy ERP software that holds historical transactions or industry-specific software such as medical billing or membership tracking. As a result, vital business data is stored in multiple, disparate applications, depriving your organization of a single source of truth and deep data insight.
Simply put, integration is the exchange of data between two or more software applications. It can be unidirectional — where the data travels only in one direction — or bidirectional —where both applications send and receive data.
Integrating your vital business software systems extends the value of each of them — and unlocks tremendous opportunities for efficiency. Integration allows you to take advantage of new capabilities (such as expense management or fixed asset tracking). It also reduces the need for duplicate data entry to keep multiple applications (think CRM and ERP) up to date. The benefits of ERP integration are many, including:
- Minimized data entry
- Access to real-time information
- Extending the capabilities of your ERP
- Enhancing collaboration across the organization
- More comprehensive reporting