Enterprise Resource Planning System
Enterprise resource planning software (ERP), a combination and interactions of various customizable modules that allow to control every process of businesses.
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ERP software gives you company’s centralized database, easy access of information, analytics for policy decision, advance alert to avoid problems, automated routine tasks and simplified business processes. Use of ERP optimizes operations and saves time. These objectives can lead to an increase in revenue margins and efficiencies while improving communication across the company. An ERP can reduce the time and effort required by your workforce to carry out their daily activities. Cutting-edge technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA), the automation and intelligent suggestion capabilities in ERP software applications help in managing business activities such as demand forecasting, generating purchase orders and tracking products from manufacturing to delivery. It’s an end-to-end solution with features and benefits:
- A single source of data – one integrated database for all business processes, better reporting tools with real-time information.
- Better customer service with easy access to customer information, fast response time, order accuracy and improved response time.
- Improved stock & supply chain management, better planning.
- Complete visibility of data, report and analytics.
What are the benefits of an ERP System?
Enterprise Resource planning software’s are of great importance when it comes to counting the number of benefits it can add to your business management from both cost and technology standpoint.
Some of the benefits are as follows :
- A single integrated system
- Streamlining processes and workflows
- Reduce redundant data entry and processes
- Establish uniform processes that are based on recognized best business practices
- Information sharing across departments
- Improved access to information
- Improved workflow and efficiency
- Improved customer satisfaction based on improved on-time delivery, increased quality, shortened delivery times
- Reduced inventory costs resulting from better planning, tracking and forecasting of requirements
- Turn collections faster based on better visibility into accounts and fewer billing and/or delivery errors
- Decrease in vendor pricing by taking better advantage of quotation comparison and tracking vendor performance
- Track actual costs of activities and perform activity-based costing
- Provide a consolidated picture of sales, inventory and receivables
An ERP system provides the solid operational backbone manufacturers and distributors need to improve the volume of production and fulfilment of orders while reducing costs. By optimizing your manufacturing and distribution operations with ERP, you'll also be able to focus on new business opportunities.
