ERP stands for Enterprise Resource Planning. ERP software help companies more efficiently manage their resources – such as employees, finances, and materials.
How ERP software works?
ERP systems exist to improve the efficiency of processes throughout an organization. They do this by optimizing and streamlining how essential resources are in use. An ERP system reduces the total number of resources needed for the business to function at optimal levels, while also employing a centralized database of important in business processes. Managing these processes is likewise simplified through the use of real-time dashboards and reporting, where administrators can review data and measure productivity and profitability.
What features do ERP systems typically provide?
Support for components and applications
To function effectively, ERP systems must be able to work cohesively with a range of different components and software.
Real-time operation
Business is dynamic, and so are many essential business processes. ERP systems must be capable of monitoring and processing data in real time, so that administrators can keep up with the pace of the real world.
Digital user interfaces
Having a consistent look, feel, and functionality for all modules regardless of department allows for easier adoption, and helps significantly reduce the barrier to entry for staff that may move between teams.
Reliable automation
Top ERP solutions allow organizations to automate manual, repetitive tasks.
Multiple deployment options
Effective ERP systems are compatible with all deployment models, including on-premises, cloud-hosted, and SaaS.
What are the ERP Modules?
1)Sales:
Sales module are available in every ERP software.ALl sales related work will be done in ERP system.
2)Manufacturing
Manufacturing modules assist companies in matching production levels to meet demand, monitoring and reporting on planned, in-progress, and completed items, and coordinating the various steps and processes involved in manufacturing.
3)Inventory management
Keeping real-time track of inventory levels and measuring essential inventory metrics, inventory management modules in ERP systems allow inventory-dependent organizations to forecast demand and optimize on-hand stock.
4)Order management
Order management modules help organizations prioritize, monitor, and track their customer orders, from payment through delivery. Effective order management helps improve delivery times and reduce the likelihood of late or missing orders.
5)Purchasing
Managing and automating all company purchases—including finished goods and raw production materials—procurement modules help align procurement with demand and minimize the risk of overbuying and underbuying.
6)Warehouse management
Receiving, storing, picking, packing, shipping, and monitoring of warehouse goods are all tasks associated with warehouse management.
7)Finance
Finance modules (also known as financials) are integral to nearly every ERP system, managing financial data and resources, and facilitating accurate, real-time reporting.
8)Design and developement
Design modules also available in most of the ERP systems.
9)HR and payroll
Hr and payroll also available in most of the ERP system.
Different types of ERP system:
Small Business ERP: This ERP solution allows small businesses to pick and choose the functions that work best for their operations and best meet their needs by requirement. ERP services for small businesses are typically simplified to provide only the most necessary functions at a lower cost.
Web-Based ERP: Remote companies or organizations with workers who are working from outside or online benefit from a web-based ERP system, which simply makes the ERP system available online; accessible from anywhere, any time.
Cloud-Based ERP: Cloud base which are hosted on a vendor’s cloud platform, are flexible, scalable, and offer the security by the cloud management.
Benefits if ERP system:
1)Improves Accuracy and Productivity
2)Improves Reporting
3)Increases Collaboration
4)Increases Efficiency
5)Increased data security
6)Reliable reporting
7)Improved visibility
8)Stronger customer and partner management
9)Dependable compliance
How ERP system Implemented?
The process of ERP implementation phases are as below.
- Discovery
- Planning
- Migration or new implementation
- Testing
- Deployment
- Training
- Post-Implementation Support.