Companies need ERP systems if they could benefit from consolidating all of their various software, if their accounting processes are taking too long or if their IT is too complicated, suggests Net Suite. ERP systems streamline information-gathering processes by compiling all the different software of a company into a single system.
Suppose a company has a lot of different software programs that help individual departments. When the accounting team needs to collect information from these departments, it may be difficult to go through the different software to find that information. In this case, an ERP system would put together all of the information from the various software and make data collection and processing much quicker, according to the Net Suite website.