Enterprise Resource Planning (ERP) is a business management software that allows a company to take maximum advantage of its resources like Employees, Machinery, Warehouse, and Finance through a suite of integrated applications. ERP systems streamline and automate processes for more accurate and efficient operation.
ERP provides complete visibility into core business processes. Enterprise Resource Planning platforms, like Teknovate ERP, optimize systems through Better resource tracking and reporting facility, Huge database management and data sharing, and overall improved information analysis through its Dynamic Reporting facilities. ERP systems can allow your business to expand without any additional costs of marketing, warehouse, and operations.
1. A Single Integrated System for All Business Processes:
Enterprise Resource Planning systems provide a common platform for all departments of the company. Since the platform is integrated, all departments can share data seamlessly.
They can also perform business functions and operations that would require multiple systems like financial operations, inventory management, sales, marketing, etc. By reducing operational complexity, a well-integrated ERP system can make operations more efficient.
All the data for operations, finance, and sales can now be managed from a single system. This increases productivity, reduces errors, and gives you the ability to scale your business across the globe by scaling an ERP system.
2. Streamline Operations with Visibility:
Employees get real-time visibility into the operations With the implementation of Enterprise Resource Planning software. They can easily track their activities and performance against targeted goals. This is possible due to the integration with the other systems.
Having real-time visibility, allows managers to engage their employees better. The employees can be engaged more because they can see what is happening with the company. They can know if there is any issue in any steps of your business operations, and they can resolve issues pertaining to the activity immediately.
3. Data Capture for Better Reporting:
Get an opportunity to capture data from all your departmental operations at one place through this ERP software. Create custom reports based on the collected data.
Real-time operations tracking can help you to remain connected with your business from any corner of the world which helps you to analyze the performance of your team, and you can put your valuable input at any point to avoid some mistakes and improve profitability.
Some of the examples of the reports are as below,
- Salesperson wise / Product-wise / Customer-wise sales report
- Salesperson-wise daily activity reports
- Lead loss Reason-wise report
- Pending delivery report
- Product-wise purchase report with an average price
- last purchase price / average purchase price / last few purchase analytics
- Slow-moving product report
- Fast-moving product report
- Department-wise product consumption report
- Overall equipment efficiency report
- Machine-wise / Person-wise / Product-wise production report
- Live Production costing
- Live Purchase and Landing cost analysis
- Daily Profit Analysis with the bifurcation of Income and Expenses in detail
- And Many Many more reports from each department...
One of the best features of Enterprise Resource Planning software is that you can create reports based on your business data to analyze, make decisions, and improve performance which will lead to increased profitability and ultimate growth.
4. Cost Reduction from Automated Workflows:
Through the execution of automation, manual workflow decreases so it will lead to get more results due to fewer errors. Overall, manual work is reduced when workflows are executed automatically and remotely. This is possible due to the integration with other systems like HR, Inventory Management, Financial Systems, etc.
For example, an employee has to perform a certain task in the company. In order to assign the task to the employee, Workflow has to be triggered. With integration, the task is automatically triggered in the ERP system. This saves time for both, the employee and the company.
Following are the examples of workflow automation that you can do with the help of an ERP Software :
- Auto-calculate purchase requirements of each product daily based on available stock, pending sales order/delivery, Min. Quantity set, pending production orders, etc.
- Auto plan Manufacturing order for the production team, based on each new sales order confirmation.
- Auto create Pending Delivery for store person, based on each sales order confirmation.
- Auto alert on stop working of any machine and for delayed deliveries also.
5. Increased Employee Productivity and Morale:
Daily business operations includes repetitive and time-consuming tasks, such as data entry, report generation, and inventory management. All these can be done automatically at one place, by installing an ERP software into your business.
By eliminating manual work, employees can focus on more strategic and value-added activities. This can lead to increased job satisfaction and higher morale of an employees, due to this they are empowered to work on important tasks, through which they deploy their skills and expertise.
6. Organizational Growth and Innovation:
When you implement Enterprise Resource Planning software as per your business structure, you get the opportunity to scale your business across the globe. You can now operate in various locations without increasing the headcount.
You will get the right talent and scale your operation without any additional cost. The best part is that you don’t need to invest a lot of money in hiring new talent. Now, you can get the right employees with the right skill set with the right experience using the right workflows. This results in cost reduction and also allows you to scale faster.