To have greater control over your SME a software has been designed to settle the business i.e. Enterprise Resource Planning (ERP). An ERP captures all your business activities at one place and you can access the data anytime and anywhere. ERP is not simple but it’s also not complex as the road to simplicity is a complex one. Technical support is provided by the ERP provider and ERP can be customized according to the customer requirement. ERP has a good command over the business. Enterprise Resource Planning is a system software that has been designed for the management of business processes. For the development of a business the implementation of ERP is very necessary. As the big vendors of ERP focuses on large enterprises but the small enterprises are ignored so we have designed such ERP which is specially designed for the SMEs.
The designing of the ERP can also be done as and when required. So the customization of modules can be done according to the customer need. If the business is running in loss then you must do PQA Analysis. ERP reduces the waiting time and the time spent in making bills, ledgers etc. because all these are generated and maintained through ERP. ERP can make the life of the business run with double speed. Now the thing which is more than ERP is an Operating system for Manufacturing i.e. OSM. ERP on cloud covers the entire spectrum of enterprise functions through a suite of products – Manufacturing, Financial Management, Supply Chain Management (SCM), Human Capital Management (HCM), Customer Relationship Management (CRM) etc. You can decide which solutions you want to use, scale up and add more solutions as your business grows. ERP solutions helps the manufacturing industry to grow.
Finance is the important department of any business organisation and finance is the backbone of any business. Finance is the handling of accounts and is the study of investments and the science of money management. ERP software helps a lot in handling finance and the accounting process. Finance activities includes:-
- Investment and Accumulation goals- ERP helps in planning and how to accumulate enough money in business and life events that is considered as planning.
- Tax Planning- To a common man Income tax is the largest tax in the household. Government has given many facilities such as tax deductions and credit which helps in reducing lifetime tax burden and all this can be simply done through ERP on a single click.
- Financial Position- The ERP helps in showing the financial position of the business which helps to analyze the profit and loss of the business. It helps in understanding the resources available in the company by examining the net worth of the company which helps to determine to what degree and at what time the goals can be accomplished.
- Provides Adequate Protection- The risks involved in a company can be divided as liability, property, death, health and long term care. ERP helps to protect from all these risks.
ERP helps to handle all the processes of Finance easily as the person will be able to make Journal voucher, Purchase voucher, cash voucher, invoices, check trial balance, make payment to vendors, make purchase register etc. through ERP. All the financial functions can be handled through ERP.
ERP is the short for Enterprise Resource Planning. ERP is an open source software. The benefits of ERP system are as follows:-
- Data quality
- Improved CRM
- Improved data access
- Reduced complexity
- Improved flexibility
- Scalable: A ERP can be easily scalable. That means adding new processes, departments and many more can be made easy. If new modules are to be created it can be done easily just with a click.
- Data quality: As compared to manual record-keeping, an ERP system improves data quality as a result best business results can be achieved. Data cannot be manipulated and is kept safe in operating system for manufacturing.
- Improved CRM: CRM is customer relationship management. An advantage of using an good ERP system is enhanced customer relations as a result better business.
- Improved data accessibility: Controlling data properly is always a challenge in organizations. With an Operating system for manufacturing, you can efficiently access the data easily.
- Reduce complexity: The ERP system is that which reduce the complexity of a business and introduce a neatly designed system.
- Improved flexibility: Flexibility is improved by ERP system of a business and be able to adjust to the changing business activities.