How ERP Can Help Bridge Armenia’s Productivity Gap
Aug 27, 2020
At such a transitional period in Armenia, issues of productivity and transparency are at the forefront. These issues become more highlighted each time there is yet another set of breaking news concerning corruption or a segment on improving the national economy. Without delving too deep into micro and macroeconomic factors that affect these issues, we’ll discuss what ERP can do to contribute its share to the solutions of these problems.
How ERP Helps Improve Productivity
Understandably, closing the productivity gap in Armenia will require numerous factors to be considered. However, in many cases, it boils down to companies investing in technologies that will contribute to their efficiency and productivity, and ERP solutions are designed for this very purpose.
So what are some of the ways that ERP systems help improve productivity and profitability?
They reduce mundane, repeating activities.
Companies use considerable resources for non-value-added work like filing sales orders, copying documents, matching invoices and receipts, etc. With the help of ERP systems, this busy work is greatly reduced or altogether eliminated, which frees up time for more important and productive tasks.
They have a centralized database and result in better decision-making.
One of the greatest upsides for companies to having an ERP system is that they will have a centralized database in their organizations. Without having their data scattered throughout different databases, companies will have timely access to complete, accurate, and consistent information, which, in turn, will positively affect their decision-making.
It’s best practice for businesses.
For a long time, ERP solutions were a luxury only industry giants could afford. As such, they were indicative of a company’s status and leadership position in the market. Nowadays, thanks to the emergence of lightweight and lean ERP solutions, companies all over the world embracing ERP systems as best practices in their respective industries.
Public Sector ERP Today
It is not surprising that more and more state and local governments throughout the world are investing in ERP systems designed for the public sector. This is because they have realized that by doing so, they can harness the potential of e-governance, enhance internal processes, and satisfy the needs and demands of the public and other stakeholders.
Better, Faster Government Services Online
One big reason ERP vendors are seeing a surge of government orders in the recent years is that there is constantly growing demand by people for customer services over the Internet. It’s no longer merely about spending tax dollars effectively – people now place more emphasis on governments doing a more effective job of serving their citizens. As such, to increase the efficiency of their services, governments are using ERP systems to combat their traditional information silos.
Integration is Key
ERP systems best suited for governments have advanced finance and HR modules, because the bulk of government budgets concerns wages and salaries. Moreover, the public sector now has great demand for integrated web-based ERP solutions. For example, an ERP system with linked CRM and accounting would allow citizens to check the status of their alimony payments online or, similarly, allow government vendors to track orders and invoices. This not only makes for more efficient government services, but also caters to the aforementioned demand by people for improved responsiveness and transparency.
Increased Transparency
Those of us in the business world know that transparency and trust go hand in hand and are nowadays crucial for a brand’s success. Governments are no different. To gain or regain the trust of its citizens, many government agencies are willing to go the extra mile when it comes to trust and use their ERP solutions to satisfy such popular queries as how they are spending tax money - how much the state is spending on healthcare, how much for travel, etc. Instead of opening requests for each query, they opt for simply making this expenditure data available to the public.
The Experience of Factumsoft in the Public Sector
With our postmodern approach to ERP, we believe in deconstructing the monolithic legacy ERP solutions for increased agility and flexibility. This allows us to not only integrate the functionality specific to the public sector, but also help our clients to stay within their budget restrictions.
At Factumsoft, we continue to be extensively involved in various e-governance projects with the Ministry of Finance, the State Migration Service, and the Armenian Chamber of Commerce. We believe that back office transformation is required for the efficient operation of our public offices. Our solutions enable users to do more with less in order to achieve cost efficiency and cater to the needs of the public.
Factumsoft is an all-in-one software for your business management & growth
We ensure rapid delivery of a quality ERP system tailored to your exact requirements, budget and timeframe.