Introduction:
Today’s businesses rely heavily on enterprise systems to manage complex business processes across a wide range of functional areas. Business process automation and integration solutions aim to improve communication and efficiency in the workplace (Renaldo, 2022). In this paper, we will outline our proposals for XYZ Inc.’s IT information strategy, focusing on the company’s implementation of enterprise-level technologies. We will investigate the market for solutions and suggest one that is tailored to the company’s requirements. To back up our idea, we shall detail its functionality, expenses, and purpose.
Enterprise systems appear to be the best option. Financial and accounting data, human resource data, supply chain data, and consumer data are just some of the types of data that many commercial software packages claim to be able to combine. Managers who have spent significant time, resources, and effort trying to make incompatible data systems and processes work together (Moilanen et al. 2023) are attracted to the promise of a turnkey solution to the difficulty of business integration.
As was to be expected, businesses are queuing up to work with enterprise-system developers. SAP, based in Germany, is the fastest-growing software company in the world (Kumar et al. 2019), having grown from sales of less than $500 million in 1992 to about $3.3 billion in 1997. Software from SAP’s competitors, like Baan, Oracle, and PeopleSoft, has also seen significant growth in demand. With an estimated yearly worldwide cost of $10 billion, enterprise systems, also known as enterprise resource planning (ERP) systems, are becoming increasingly crucial to enterprises around the world. Despite the Internet’s stratospheric rise in recent years, the widespread adoption of enterprise systems in the business sector throughout the 1990s may have been the most significant shift in the corporate utilization of information technology.
Overview of XYZ Inc.
XYZ, Inc. is a multinational corporation that creates a wide variety of industrial goods. The corporation employs thousands of people across the globe and runs operations in multiple nations. An enterprise resource planning (ERP) system is currently being used to oversee all aspects of the business. The ERP software is housed on the company’s servers and is tailored to the business’s unique requirements. The system has been in use for quite some time and is essential to the functioning of the business.
Current Challenges:
The present ERP system has proven useful in keeping the company’s operations running smoothly, but it has several limitations that make it difficult for development within the company. One of the major obstacles, as stated by Singh et al. (2023), is the lack of real-time data availability, which hinders the company’s capacity to make prompt, well-informed judgments. In addition, the system is not mobile-friendly, which restricts employees’ ability to work remotely. Further, data silos and inefficiencies result from the present ERP system’s inability to interact with the company’s other software applications.
Proposed Solution:
Based on our findings, we propose that XYZ Inc. adopt a cloud-based ERP system that provides real-time data access, mobile accessibility, and integration with other software programs. We propose Oracle Corporation’s NetSuite as a solution because it is a cloud-based enterprise resource planning system.
Functionality:
NetSuite is an enterprise resource planning (ERP) system that runs in the cloud and provides extensive tools for a wide range of company processes. Users can obtain data in real-time through the system and make well-informed choices promptly. The system is mobile-friendly, so employees can use it from anywhere, boosting their convenience and output. NetSuite may also be easily integrated with other software systems like Salesforce and Shopify to further streamline corporate processes and eliminate data silos. The system’s many capabilities allow for comprehensive control of a business’s finances, employees, suppliers, factories, and customers.
Real-Time Data Access:
With NetSuite, users get access to the most recent information regarding their company’s activities, thanks to the platform’s real-time data access. This is crucial for business decision-making as it gives an up-to-the-moment picture of operations (DRAGO & COSTIN, 2022). Because the system allows users to access data in real-time, users may immediately do analyses and make decisions based on the most up-to-date information. The ability to make decisions based on the most up-to-date information is crucial for a manufacturing company like XYZ Inc., so that it may enhance its production processes.
Mobile Accessibility:
Since NetSuite is mobile-friendly, employees can log in from anywhere with an internet connection. As a result, employees have greater freedom and productivity, as they can access the system whenever they need to from wherever they happen to be. Remote workers will like the system’s mobile accessibility because it keeps them informed of the latest developments at the organization. This is especially crucial for XYZ Inc., as the company operates in multiple countries and employs remote workers.
Integration with Other Software Applications:
NetSuite works effectively with a wide variety of other programs. This improves business procedures and decreases data silos (Samson et al., 2022). Due to the system’s integration capabilities, users have access to information from other software programs, resulting in a more comprehensive picture of the company’s operations. When applied to a manufacturing company like XYZ Inc., this can greatly enhance the supply chain management processes already in place.
In conclusion, the efficient management of complex corporate procedures through the use of enterprise systems relies heavily on a carefully crafted IT information strategy. This article presents a possible solution for XYZ Inc., a multinational manufacturer having issues with its existing enterprise resource planning (ERP) system. After a thorough analysis of the market, we settled on Oracle Corporation’s cloud-based ERP system NetSuite as the best option. NetSuite is a good fit for XYZ Inc. because it facilitates real-time data access, mobile access, and application integration. Our suggested system will increase the firm’s agility and efficiency while decreasing data silos and inefficiencies, allowing for faster, more informed decision-making. We anticipate that this approach will assist other businesses deal with comparable issues and make more educated choices about installing enterprise systems.
References
DRAGOȘ, Ț. C., & COSTIN, B. V. (2022). The Impact That Cloud Computing Has On The Financial Accounting Processes Of Companies. A Case Study On Choosing A Cloud Accounting Provider. Annals-Economy Series, 5, 58-63.
Kumar, B. R., Kumar, & Amboy. (2019). Wealth Creation in the World’s Largest Mergers and Acquisitions. Springer International Publishing.
Moilanen, J., Luhti, T., & Niilahti, J. (2023). Deliver Value in the Data Economy. BoD-Books on Demand.
Renaldo, N. (2022). Benefits and Challenges of Technology and Information Systems on Performance. Journal of Applied Business and Technology, 3(3), 302-305.
Samson, D., Ellis, A., & Black, S. (2022). Business Model Transformation: The AI & Cloud Technology Revolution. Taylor & Francis.
Singh, S., Singh, S., & Misra, S. C. (2023). Post-implementation challenges of ERP system in pharmaceutical companies. International Journal of Quality & Reliability Management, 40(4), 889-921.
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