With the expansion of global economy and increased globalization, the way of doing business has also changed drastically. Businesses have now massive problems to deal with like increased competition, limited resources, skilled labor force etc. In today’s times, businesses have to work in the most efficient way, due to excessive competition, otherwise they will be knocked out of the race by their competitors. In 21st century, companies have now huge customer base and on the other hand customers now also have access to millions of businesses at their hands so companies need to work constantly on their activates and operations to grow and retain their customer base.
Managing small level businesses with 8 to 10 employees is not a big deal but what if you are a huge enterprise employing thousands of employees? Managing the data of each and every employee, managing the massive-scale business operations along with maintaining the huge customer-base cannot be done manually by individuals. For this purpose, Enterprise Resource Planning software arrives.
What is ERP software?
ERP is a software that helps you manage your business easily and efficiently. ERP software is a tool that merges information of every aspect of your business at one place. It makes you easy to access each and every aspect of your business and helps you simplify the business operations along with automating the routine work tasks. This system can be fully customized according to your business so that you can also make future forecasts and planning using ERP software.
ERP system was traditionally meant for large-scale organizations but now many small and medium scale businesses are also taking big interest in this software due to its efficiency and uniqueness. The key business benefits of ERP system are as under:
- Helps to reduce the costs of business operations:
ERP systems can range from thousands to millions of rupees depending upon the solution. It can not only help you lower the business overhead costs but also save your time for accessing data from difference departments. You only need to input your data once and then carry the information to other departments in real-time. ERP software can help you empower your team by providing information and data they need, at their fingertips.
- Highly efficient planning and management:
Business decision and planning cannot be done based on vague data. For this purpose, ERP systems are highly efficient in providing you the required data you need to plan your future business activates, forecast sales, manage inventory etc. ERP provides you with authentic and most relevant data that can be used to make highly sensitive decisions. When you can predict accurately, you can prevent any future loss which can be caused due to unpredicted interruption or production postponements.
- Maximum productivity:
Using ERP system, you can automate the major business operations including inventory management, invoice generation, inventory tracking, HR management etc which can allow you to focus on other major downsides and tasks that could have been ignored otherwise. You can’t visualize the amount of time saved by having a single and comprehensive database system across all departments. Manually data entry systems were very slow and full of errors as well but comprehensive ERP systems are very helpful with higher accuracy that saves time on revisions. It can also help you figure out the wastages of time and resources during the whole production.
- Better quality control:
One of the significant feature of ERP system in improved quality management. Take an example; you have final-product on your hand that has just came out from the manufacturing process, but you need to make sure that the product has gone through proper paper work and quality assurance procedure. You can tell your ERP system to block that product until the review and paperwork in done. This type of flow guidance in your ERP system can help you eliminate human errors and better quality control. Moreover, it can also allow you to let only concerned people see the sensitive information, hence removing the element of leakage of data.
- Enhanced collaboration:
ERP system connects the teams and all departments of business, enhancing collaboration and worker involvement. With the help of an ERP system, each approved employee can have access to business data, allowing them to make quick decisions, understand all parts of business and letting know their job duties and role they play. Collaboration can also extend outside the company as well to connect the outside parties like suppliers, customers and other stakeholders at instant glance.
- Cloud accessibility:
ERP software solutions can be available as on-premise solutions and could ERP as well. In the recent years, cloud based ERP software is being more popular due to its easy accessibility and better security. It can help you lower down the burden on IT staff and proves to be more cost efficient. Having a cloud based ERP system means that you can have an access to it anywhere, anytime and on any mobile device, as long as you have proper internet connection. It allows to make fast actions even when you are doing your work remotely. ERP is the need of the hour nowadays, not only for large enterprises but also for SME’s. You must have a fully customized ERP system for your business, in order to survive in today’s competitive market. Eccountant ERP Private Ltd. is a fully cloud based ERP software house that makes highly customized ERP solutions for your business and lets you manage your business at your fingertips. Our highly skilled team in motivated to provide best solutions to your business with less complexity and more efficiency.