ERP for Engineering

ERP Software for Engineering Companies

Why to implement ERP software for engineering companies? ERP software for engineering companies offers following benefits to companies: Better project management, Cost reduction, Real-time calculated information and provides a Total integrated package. It will improvise your Decision making and will grow your business to great heights. Few core advantages of ERP for engineering are as follows: Customer-oriented system, Data efficiency, and effective communication.

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The proposed process designs should always be designed within the logic of the ERP systems. - Andera.

Engineering industry comprises of companies that deal with the manufacturing and designing of machines, complex structures and various kinds of devices. The basic term “Engineering” denotes building or creating something. So the main functions of this industry are manufacturing, design, processing, and construction of structures. But this industry faces a lot of challenges in terms of complex projects, costs of production and pricing of the structures. It also has to strive in the cutthroat competition in the market. Here comes the role of Enterprise Resource planning which helps the engineering companies to manage the operation in a systematic and standardized way. ERP automates the business processes and makes it integrated for all the departments of the organization. Its core benefit is to provide a complex element in the simple and precise form such as complex designs of the structures and designs of the devices, representing it in a three-dimensional form making it easier for the professionals to act upon it. The biggest hurdle of tracking and managing the inventory is also being solved by the ERP software for engineering companies.

What are the features that it serves?

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A project is complete when it starts working for you, Rather than you working for it – Scott Allen

As ERPs are industry-specific and made customized for the organizations according to their desired needs, the features that software serves are different in every organization. But there are some basic common features that ERP software for engineering companies has in overall. They are discussed below:

Benefits that they provide!

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One of the advantages, but also criticisms, of ERP systems is that they impose a standardized way of conducting business processes. - Marianne Bradford.

Companies should only adopt anything that is providing or adding some value to the business. Integrating the latest technology and software in the company is important but it should be of some benefit as the cost is on stake. ERP software for an engineering company is an essential service for the companies falling under the category of the engineering industry, and it thus provides a lot of benefits. These are mentioned as follows:

Estimation of cost and revenue:

Estimation of cost and revenue

As the industry is slightly complex due to the complex operations, it is important to calculate the costs incurred and revenues earned accurately. ERP makes it quite simpler and time-saving activity for the companies.

Automation increases productivity:

Automation increases the productivity

Automation in the business processes by ERP helps in saving a lot of time for the workforce of the companies making it more effective and efficient, which leads to an increase in the productivity of the business entity.


Efficient working methods:

Efficient working methods

It allows a shift from manual tasks and documentation to the digitized methods. It makes it easier to keep track and has all the data in a systematically stored way.

Increase in the Return on Investment:

Increase in the Return on Investment

ERP software for engineering companies helps in reducing labor-intensive operations, provides real-time information and reduces unnecessary time, accuracy in cost estimations at every step which results in the increase of ROI of the companies.

ERP software for the engineering companies also provides certain more benefits which are listed below:

  • Operational excellence

  • Simplifies the Exchange of Information

  • Improved Decision making

  • Data efficiency and assimilation

  • Customer Relationship Management

  • Easy Accessibility to Inventory

Types of ERP software for the engineering sector

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Projects we have completed demonstrate what we know - future projects decide what we will learn. - Dr. Mohsin Tiwana

Engineering companies have to manage and handle a lot of projects that are complex in nature. Some projects are larger than the other which raises the issues of cost estimation and workforce management. Engineering operations are broadly divided into two categories for which ERP solutions are designed in a customized way. They are:

ERP for Project Engineering

ERP for Project engineering

Project engineering is concerned with the manufacturing or designing of materials either for the purpose of innovation of modifications in the existing structures. It consists of a series of activities such as project scheduling, resource forecasting, vendor management, and planning. All these activities are now handled by ERP.

ERP for System Engineering

ERP for System Engineering

It is concerned with the know-how of the creation of complex structures with the help of designs over the complete life cycle. In this, the components work in sync to form a complete function. ERP helps in the successful development of systems, designs, implementation, and dissemination of the processes and methods.

ERP software for engineering companies plays a crucial role in the development of successful designs, simplification of complex tasks and operations and effective management of every little activity that goes in this industry. Every company operating under the engineering sector should opt for their customized ERP software as per their own specific needs if they want to grow and excel in terms of operational efficiency and increase their overall productivity.

Finbyz is one of the leading service providers for ERP Software for Engineering in Ahmedabad, Gujarat, India. If you are considering implementing ERP Software for Engineering company, we provide a free consultation service to explore available solutions that match your needs.

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Improvements in the use of the ERP system are an outcome of improvements in the process. - Stephen Harwood

Other Modules of ERP

Account

Accounting is the language of Business - Warren Buffet.

Account

Accounts module delivers insight into the key account needs of your organization and lets you manage the organizational expenses by delivering valuable insights. It allows you to automate financial and accounting activities such as Sales Invoice, Purchase Invoice and Payment Entries. You can also manage your assets with automated depreciation entries at selected period.

  • Multi company accounting with possibility to get combined accounting reports.

  • Automated payment reminders for your receivables.

  • Easy Integration with CRM.

  • Multi-currency accounting for export/import and hedging.

  • Manage term loans with scheduled automated ECS accounting entries.

  • Detail analytical reports on sales, purchase, gross profit.

CRM

If you are not taking care of your customer, your competitors will. - Bob Hooey

CRM

The CRM Module of ERP solutions allows you to optimally manage your relationship with the customers by providing you a broader range of functionalities that are specially designed to improve your customer service. Say no to searching multiple platforms like mails to accounting software to get 360 degree view of customer, you can get conversations, orders, invoices, deliveries and payment details all on single page.

Features:

  • Manage full conversion cycle from Lead ->Inquiry ->customer management.

  • Never forget to do follow-up calls on time through system reminders.

  • Time line feature like Facebook for each customer/lead allows you to view all mail/phone conversations on single page.

  • Make delegation and monitoring of tasks task more efficient through system generated escalation mails.

Inventory

Inventory is money sitting around in another form. - Rhonda Adams

Inventory

Stock Inventory management is heart of any ERP. Here you can not only check the current stock levels with valuation, but you can also see projected quantity of stock based on purchase orders, sales orders and production orders in hand. The versatility of this ERP makes stock management module highly suitable for all forms of businesses.


  • Manage exact location storage space though Tree structure of warehouse.

  • Possibility of Serial No/Batchwise inventory management.

  • Generate product bundles selling multiple items together.

  • Create multiple price lists for each item, including multi-currency price list.

  • Allow seasonal discounts or offer special pricing to loyal customers through Pricing rules based on customer, Customer Group, Territory or Season.

  • Strong quality control based on predefined inspection criteria to be filled in quality check before receipt of delivery of item.

Purchase

You sell on Emotion, But you justify a Purchase with Logic. - Joseph Sugarman

Purchase

Manage the purchase through workflow of material request. You can create request for quotation and send it in mail to multiple suppliers with the click of a button. Ensuring multiple quotation are received for the requirement and choosing the best quote for purchase order, you can improve efficiency of your purchase department. In fact, this can improve your bottom line by bringing down your cost of goods.

  • Manage your sourcing activities by comparing quotes of multiple suppliers.

  • Send request for quotation to multiple suppliers on click of a button.

  • Item-wise or supplier-wise purchase price analytics.

  • Rate suppliers based on various factors from delivery time to quality of product.

  • Maintain buffer stock with automatic purchase requisition if available quantity in warehouse is below defined level.

Manufacturing

This is where the real work gets done.

Manufacturing

The Manufacturing part of the ERP has been designed to serve businesses in diverse industry backgrounds. The versatility of the software allows SMEs to manage their manufacturing activities with minimal data entries. The system is capable of managing cost of manufactured goods based on raw materials consumed and operational cost based on manufacturing activity time.

  • Manage workstations and standardize operations to be performed with benchmark timing.

  • Allows Multiple Bill of Materials(BOM) for single item with variation in manufacturing formula.

  • Manage not only inventory but also operational cost and workstation availability through BoM.

  • Production planning tool for scheduling manufacturing activities along with sub-assemblies.

  • Production analysis for each batch against the benchmark for getting possible areas of improvement.

Human Resource

You don't build a business. You build People and then people build the business. - Zig Ziglar

Human Resource

Human resource is most important for but ignored part of most of SMEs. The reduction in time wasted in non-core activities and goal-oriented approach increases the productivity of employees. Automation of attendance, payroll and expense claim allows better tracking and reduced redundancies.

  • Manage Employee attendance.

  • Automated Payroll Processing.

  • Leave/holiday management.

  • Expense claim management.

  • Job openings and applicants.

  • Professional Appraisal system.

  • Training and feedback.

Support

Delivery Excellence for creating magical customer experience.

Support

Poor customer service and support costs companies billions of dollars each year. According to Customer Engagement Index by almost half of consumers will stop buying from a company and move to a competitor within one day of having poor customer service. Best brands are known for their best in class service and support. ERP helps you create a system for tracking and resolving customer issues. You can also manage guarantee/warrantee of your products.

  • Ticketing system for issue recording, where tickets can be automatically created through customer email.

  • Possibility of assigning issues to relevant person for resolution.

  • Automated email/sms to customer on resolution of issue.

  • Manage invoicing for maintenance/repair service for items out of warrantee or AMC.

  • Take customer feedback against service to maintain quality standards.

Exim

The Foreign Trade Should be Fair Rather than Free. - Lyn Nofziger

exim

Given the complex nature of export import business we designed special module, which will allow you to manage your requirements more effectively. As you must deal with many regulations the accuracy of the documents is most important for the organization. There are also local lows providing special benefits to exports like Duty drawback, MEIS, etc which require special accounting treatment. Import / Export finance is also has multi-currency nature and many times it come with fixed repayment date.

  • Generate all export documents like Draft BL, Shipping Invoice, Customer Invoice, Packing List, etc on single click.

  • Manage export/import finance with maturity date.

  • Letter of credit facility with drawn amount, conditions and maturity.

  • Manage forward booking in system and check your hedging ratio.

  • Calculate Duty drawback, MEIS and IGST on exports and make accounting entries for these receivables.

  • Manage calculations of Export and Import against Advance Authorization license.

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