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Benefits & Advantages of ERP
By Mukesh Variyani December 6, 2018 Business
Benefits of ERP
Innovative, cloud-based Enterprise Resource Planning (ERP) platforms are making it easier for small to mid-sized businesses to quickly and affordably make the switch from off-the-shelf accounting software to robust ERP packages. The architecture of ERP System facilitates transparent integration of various business modules such as Accounting, Sales, Customer Relationship Management (CRM), Inventory Management, Purchase and Human Resource (HR) management. A single database for all these modules ensures seamless flow of information between all the functions of the organization.
Given the complexity, adapting to an ERP system can be time and cost intensive, but the advantages it offers can be significant. Here are just a few of the primary areas in which a good ERP Software implementation can deliver immediate, effective results.
Real-time Information
Say no to guess-work, Knowledge is the Key to decision making!
ERPs has Single Integrated Database for All the Functions from Sales to HR, which allows the Information on The Manufacturing Floor to Reach Management Instantly. The Real-Time Tracking of Inventory, Shipment, Order or Quotation Status Allows Your Decisions to be More Pro-active.
Get this Real-time Information:
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On the Move On Mobile
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Access Anywhere On Browser
Higher Productivity
Stop wasting time on redundant entries, focus on business!
ERP will eliminate this time waste by automating various entries. With ERP generating an invoice or making payment entry can be on the click of a button. These features ultimately increase your organization’s productivity, efficiency and profitability. Strong Monitoring
Strong Monitoring
ERP can help you monitor the productivity of each employee. This will allow you to provide necessary support to the employee with lower productivity.
Reduced Redundancies
If you maintain your information in multiple systems such as Excel, accounting or other software, there is a lot of duplication of same information.
Better Analytics
Convert information in knowledge through various Analytic tools!
The right ERP can make it easier and faster for your team to generate various reports, and this may include everything from income and expense statements to customized reports based on metrics and trends. Insights of these reports allow you to take informed decision backed by real data.
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Dynamic reports for Sales, Financial and Operational information
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Data visualization Tools for Graphical Presentation
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Automated scheduled distribution of reports through Email
Improved Collaboration
View, Share & edit data simultaneously within the team!
ERP allows you to view, share and edit data simultaneously. All changes made will be visible to other team members immediately. So you no longer need to merge information across various systems and sources. All the data is compiled, stored, shared and accessed through a single system. Database related checks ensure the final data is much more accurate and complete compared to manual compilation of various excel files.
Regulatory Compliances
Get reminded of regulatory compliance and generate documentation in a click!
Ever missed filing a direct or indirect tax return? Or you had to pay port demurrage due to ignorance or delayed documentation? An ERP doesn’t only make complying with the required documentation easy, but it can also remind you about this compliance. From deducting TDS to filing GST or Tax returns, it will ensure smoother processing of all. Through the improved ability to maintain long term consistent data and generate suitable reports for compliance ensures you don’t have to stress yourself searching for required information in various files and system at the time of scrutiny or audit.
Security
Limit user access to prevent sensitive data from ending up in the wrong hands!
Companies don’t only need to secure data from accidental loss but also from internal or external theft. Centralized cloud-based ERP data storage with automated backup process can ensure you never lose any business information. Further ERP systems offer advanced user-permission settings which can prevent sensitive data from ending up in the wrong hands, allowing users access only what they need to from the system. Storing sensitive business information on PC in the form of excel or other programs is an under rated IT vulnerability, which can lead to huge business loss.
Mukesh Variyani
MD, Finbyz Tech Pvt Ltd
