ERP is software which integrates all functionalities of the organization in a single database. It streamlines all the business processes and gives desired result on a click of a button. Earlier ERP was for big organization due to its cost, but now it is made for SMEs (Small and Medium Enterprises) of different segments.
ERP software incorporates a large amount of industry specific business functionalities which will ensure less customization or sometime no customization (except reports) to make the package suitable to your business operations.
Most important advantage of ERP software is integration of all the business solution in a single platform, which reduces unnecessary paper work, documentation, repeated entry, cycle time etc. The software also comes with its framework of upgrades to changing technologies.
In the ERP software business functionalities and operating processes are built into standard software codes, thus it require lesser time to understand process related issue of implementation and gives industry specific best practices.
ERP software automates the business processes and also forces its own logic (industry specific) on the business. Verticalization (industry specific) of ERP is increasingly becoming the buzzword across all the ERP vendors. While the other standard solutions may give 55-65% to your business, the same can be as high as 90% with industry specific solutions.
Accounting applications is another advantage of ERP. It can integrate the costing, profit, and revenue information of sales that are made etc.
* Speeding up the whole manufacturing process
* Better and systematic inventory handling with ABC analysis
* WIP (work in progress) control
* Easy project management
* Accessing the status of the goods on a click of a button
* Fast transmit commodities through online transactions
* Fastens the creation of reports
* Reduce paper works and repeated entry
* Quick processing of information
* Serving the customer efficiently in time
* Solve the customer problem quickly
* Information based decision
* Better finance reports
* Better supply chain management
* Better vendor management
* Reduce process cycle time