- July 4, 2020
- Danish Zafar
- 0
Enterprise Resource Planning (ERP) and Business Intelligence (BI) tools serve as beneficial tech tools for business problems. However ERP and BI both serve differently with multiple goals. Small or medium-sized business approaches both tools to take the business or enterprises at heights of success and growth. Let us have a look upon the features and benefits between the two to see the basic difference:
Enterprise Resource Planning software
ERP software is an ideal and powerful management solution for the whole infrastructure of the business as accounting software for chartered accountant do. It features data analysis and automation. If data is entered timely, you can do analysis quickly and easily at just one click. Automation of the business operations includes order entry, accounting matters, payroll issues, invoicing as well as reporting. ERP software has made all financial and management matters easy.
In simple words, ERP software unlike the BI optimizes the financial and management tasks through daily, weekly, and monthly log sheets. Additionally, ERP enables enterprises to do better risk management, tax management, and fixed and temporary asset management to improve the growth factor.
Business Intelligence tools
Business intelligence (BI) tools enable the enterprisers to predict the business growth, advancement rate, and future problems as well as offers intuitive knowledge. Intuitions developed based on BI tools help to achieve or redirect the business goals more precisely.
BI applications consist of spreadsheets, dashboards, data visualization software, corporate management applications, local information tools, and many other tools. BI tools forecast about the fate of your company’s goals and can suggest better actions to move precisely just like accounting software for chartered accountant do. These tools are a great help for enterprises in developing insight about the problems ahead and to resolve them instantly as well.
Benefits of ERP software
- ERP software improves human resource management and payroll issues.
- It is an excellent inventory control application.
- This helps to align and arrange the enterprise data in an organized manner.
- Makes the financial audits easy and quick if all data entered is valid.
Benefits of BI tools
- Business tools develop an insight among the enterprises that are essential for growth and advancement in the business.
- Businesses can make quick decisions in the right direction with the facts sheet.
- Business Intelligence tools help to predict better future outcomes based on valid data available in the application.
- It helps the enterprises through its reporting procedures.