How Much Do You Know About an ERP?

We have been talking about digitalization and switching towards more advanced systems since a while. Plus the increasing competition and the rising customer demands for improved products and their alternatives to choose from has pressurized the business leaders to search for the next-gen technologies.

Things that are mundane and repetitive to do, and are done by manual efforts could be assigned to smart machines and so as to complete them with speed and accuracy. Also, by doing so, the skilled and valuable employees could be put to some meaningful tasks involving business strategies and profitable decision making. When we modify our organizations to such levels, we say that we have achieved the digitalization in our organization. 

But, the question is how to achieve this level of digitalization? The answer is by adopting a smart solution like ERP. But, what is ERP? Let’s understand this term and know how it could navigate businesses towards the digital journey of success.

What is ERP?

ERP is the Enterprise Resource Planning platform that helps organizations manage different aspects of their business with one central system. From sales and purchase to inventory and finance to CRM and HRM, the solution is integrated with multiple modules to align all the business processes.

Who uses ERP Software?

Earlier ERPs were made available and affordable only for larger enterprises. However, the modern-age ERP like SAP Business One has been designed in a way such that even small to midsize businesses can purchase it in an easy subscription method. Plus, the enterprise level solution is capable of handling all the necessary business functions; the solution is an asset to small businesses. This is because they don’t have to invest in different software for each departmental need. Robust ERP software like SAP Business One can manage the end-to-end business processes with greater ease and efficiency. 

What are Different Modules in ERP Software?

As mentioned earlier, the ERP solution creates a central database storing the data of the entire organization at one place. This is been done by integrating various departments via potential modules like:

Accounting and Finance: This feature lets you manage all your finance and accounts related tasks with enhanced accuracy. Plus it can also render the verified transactions to help you with the GST filing process.

Inventory and Stock Management: This feature ensures that you never run out of stock or waste the valuable raw material with overstock situations. Plus it keeps the record of all the vendors and alerts you before the stock ends to replenish the starting material.

Sales and CRM: Right from the order placement to final shipment, it maintains the complete lifecycle of the customers and ensures they are connected to the brand/company by sending them frequent reminders on the latest offers, discounts, services, etc.

Human Resource Management: The software lets you spend more time with your employees than spending it over the mundane tasks. It helps leaders with keeping a tab on employee performance, monitoring the KPIs, assigning promotions, crediting salaries, etc.

Manufacturing: Smart ERP software like SAP Business One manages your entire processing chain by regularly monitoring the machines, conducting multiple quality checks, tracking each batch from production to shipment. 

Supplying Chain: ERP also manages and monitors the entire supply process by assigning unique barcodes to each material and tracks the complete routing and mapping of the same.

And not just this, there’s a lot more to know about the ERP solution. Apart from these functionalities they have various industry-specific add-ons. And these features can be availed by deploying the solution either on-premise or on-Cloud. So, if having an ERP system makes sense to your business, you should talk to ERP software companies near you for the best offer. Also, to suggest you the best ERP, we would recommend you ask for SAP Business One Demo as well, as it is the globally accepted ERP and best-fit for most of the industries. Maybe it could save your time and effort in drilling down the list of other ERPs.