The System Every Business Needs.

Some companies have heard of it before, some haven’t, and some are still struggling to find a good one. For those that don’t know, Enterprise Resource Planning systems are integrated software planners used by organizations to manage and streamline their core business processes.

Simply put, on one single platform, employees will be able to access all of their company’s data from each of their departments such as HR, accounting, supply chain management, sales, and much more.

These systems are essential to the operations of a business as they?

1. Integrate business processes
2. Ensure regulatory compliance
3. Streamline workflows
4. Save your company time and money

And that’s not just what we're saying.

Here are some statistics we found on the internet:

1. According to the Aberdeen Group, “96% of best-in-class growing businesses (top 20% of performers) have implemented an ERP system.”
2. According to Strategic Market Research’s 2022 report, “Approximately 47% of all companies worldwide use an ERP application.”
3. It can even save your company during a crisis according to SelectHub, “...during the recession from 2007 to 2012, the flooring industry was hit really hard. Reports say that 20-25% of flooring dealers went out of business. However, out of all our ERP users who used flooring ERP software, only 3% went out of business and 97% weathered the recession."

But choosing an ERP system that is suitable for your company is not easy.

The most common complaints about ERP systems are that they’re…

1. Complex, confusing, and not employee friendly
2. Not customizable
3. Time consuming and difficult to transfer data into (could take years)
4. Limited in integrating a company’s operations

How FairSplit Is Changing the Game

At FairSplit, we’ve been working on an Enterprise Resource Planning system that could be used by any mid sized company. What’s different about our ERP system is that it…

1. Has an easy to use interface
2. Gives you the most relevant and valuable data on employees and the company’s operations, financials, and documents
3. Includes AI solutions to automate unique workflows
4. Will reduce your costs by reclaiming annual salaries, reducing turnover expenses, regulatory fees, and error costs

Don’t believe us? Sign up for a demo on our website to see what FairSplit is all about.

Author: Justin Chong

Tag: Techstars Generative AI