ERP the acronym for Enterprise Resource Planning is a software package used by numerous organizations to smoothen their day to day operations.
Enterprise Resource Planning software, evident to its name is a perfect tool to organize and manage every business process of an organization that is ranging from inventory management, order management, accounting process, Human Resource (HR) management, Customer Relationship Management (CRM) and much more.
ERP streamline all these business functionalities into a single system and enables a flawless flow of information across the organization.
ERP is not only limited to big scale enterprises, rather numerous mid and small size companies are also harnessing the benefits of the ERP solution.
The Indispensable Features of ERP
ERP software system facilitates your organization to manage your resources such as man, machine, finance, etc. by enabling data flow among them.
This excellent system software is compact with some really great features which strengthen your resource management.
Let us move ahead and discuss some quality features of ERP system that provide your organization a superlative business experience.
HR Process Management
HR Module of ERP helps organizations to automate the process of data pulling without any error of duplication. The data automation process helps organizations to focus on other major relevant tasks.
With the help of the HR module of ERP system you not only pull data but also enter the data into the reports simultaneously. It helps you to achieve your goal in a stipulated time.
Manufacturing ERP Systems
The role of Resource Planning in the manufacturing industry is quite vital. It helps the organization with some stellar benefits such as cost reduction, growth management, gaining competitive advantages and streamlining the process.
With having ERP software in manufacturing module, it is easy to integrate every process of this unit. These manufacturing processes are like: sales and distribution plan, inventory billing, master production schedule and many more.
ERP Finance Module
Finance is the bloodline of any organization, be a small, medium or large scale enterprise. Managing the financial process is sometimes becomes quite tricky.
ERP software and solutions in the finance process help you in giving you the fine picture about the key performance indicators that ultimately required to meet your corporate objectives.
Enterprise Resource Planning software in the finance system helps you gather all kinds of financial data to generate reports. These fiscal data could be trial balance data, ledgers, overall balance sheets, etc.
Inventory Management Module
Management of inventory in an organization, especially big enterprises, is a hectic task. It always requires extra efforts to manage the inventories and to see if they reach the destination where they ought to be.
With the presence of ERP in the inventory management module, you can enjoy robust and flexible features that will guide you not only to manage your inventory but also in developing an inventory report.
Following are the major functions involves in ERP inventory control module:
- Setting inventory targets
- Offering replenishment techniques
- Finding inventory requirements
- inventory balance reconciliation
- Reporting of inventory status
- ERP boost your decision making power by offering intelligent business tools. These tools are the decision support system, the data mining system, etc.
- ERP helps in following activities, operational planning, strategic and business planning, stock creation activities and etc.
- ERP helps in eliminating problems related to stock shortage, lower customer services, cash mismanagement, less productivity, delay in delivery, etc.
- Enterprise Resource Planning augments corporate image, integrate functions and fills the information gaps among various sectors of an organization.
- One can achieve better project management.