What is ERP Software?

ERP software full form – Enterprise Resource Planning

Enterprise resource planning (ERP) software is business process management software that enables any organization to manage the business and automate core functions such as planning, operations, product development, manufacturing, accounting, human resources, sales and marketing, logistics.
ERP market is an industry that produces solutions that support every business functions. ERP software has become essential businesses over the past decade. Initial ERP systems focused only on large enterprises. Smaller enterprises, Governments and non–profit organizations increasingly use ERP systems today

ERP Software market segmentation

Benefits of ERP Software

• Optimize data quality and ease of use – A unified information is that the predominant ERP feature that connects the assorted levels and departments of a company. With one supply for information that’s mechanically collected, consolidated, organized and analyzed, you get correct and reliable data to guide selections. ERP systems enable you to manage and set user permissions in order that only the proper individuals will access the proper knowledge anytime they have to. With most ERP software system cloud hosted and that includes multi-device compatibility, your individuals will access knowledge remotely whereas on the go.
• Optimize planning and reporting: These are immediate results of having one supply of data. you’ll be able to quickly generate any quite reports – money, sales, operational, inventory, procural, body, etc. Likewise, the analytical capabilities of ERP greatly support company designing by providing you elaborated insights and helpful metrics on business performance and operational status.
• Optimize collaboration: Other results of promptly accessible information and company-spanning data are the best collaboration. An ERP platform simplifies the collaboration method among groups and workers by giving them on-demand access to information across units within the organization.
  Optimize visibility. The unified and centralized practical structure of ERP applications provides transparency and visibility into your business. AN example is an observation of the status of your inventory levels even on a day to day, letting you know current and incoming inventories, therefore you’ll be able to exactly manage your assets.
• Optimize supply chain management: An ERP platform will boost your supply chain, creating it a lot of responsive through higher demand prediction, increased inventory management, economical procural, among others. A well-managed supply chain opens opportunities for producing innovations and helps scale back prices.
• Improve client satisfaction: Far away from what most of the people think, ERP isn’t super software system, however, a set of applications to manage varied useful areas like CRM, HR, money accounting, e-commerce, and others. These are placed below the ERP umbrella to ultimately give your customers the simplest expertise and utmost satisfaction once handling your business, product, and services.
• Reduce time and energy: ERP software system automates tasks and processes thereby greatly reducing time, effort and resources spent on daily, repetitive manual activities. This frees up worker time to concentrate on alternative revenue enhancing tasks. moreover, ERP promotes the adoption of trade best practices on the company-wide level to more bolster productivity.
• Reduce prices: A corporation with simply running units that employment optimally along redounds to lower prices and improve performance. ERP software system could be a unified platform of applications and tools that may dramatically lower IT connected expenses like administration, support, infrastructure desires, application licensing, and coaching needs since users want only to find out one system instead of varied separate applications. getting an ERP suite needs considerable fund outlay, however, you’ll notice within the long-term that your overall price savings can outweigh your investment.
• Facilitate regulative compliance: ERPs facilitate processes for regulative compliance by combining secure and valid information with inbuilt reports. ERP software system aids in manufacturing info needed by federal, state and native regulative bodies.

ERP Work

• The purpose of an ERP system is to boost potency (and thereby profitability) through rising however company resources are spent, whether or not those resources be time, money, workers or one thing else. If you’ll be able to scale back what percentage resources are getting used, while not sacrificing quality/performance, then you’ll be able to grow your business a lot of with efficiency and appropriately.
• ERP software system combines a number of different} reports and metrics across various departments into a similar setting. This makes it easier to induce a full read of what’s occurring and the way resources are being spent. From this viewpoint of the business, you’ll be able to discover key insights into however processes may be improved or resources higher spent to get higher growth.
• Without an ERP system and correct planning of however resources should be spent to maximize growth and also the bottom line, it’s a lot of easier to invest resources in ways that underperform. Conversely, an excellent} ERP software system platform permits a business to assign resources far away from underperforming ways and into those who are generating good returns.
• An ERP system also makes it quicker to search out the data or report you’re when as a result of everything is within the same place. You don’t need to search through spreadsheets or surf totally different business applications to search out that kernel of information you need; it’s all on the market and accessible right from the ERP interface.

Empowering Productivity

ERP Software Solutions

Finance & Accounting System

Key feature: Easy management of crucial data through audit trail logs, master data management logs & inter location/branch transfer entries.
Features

• Related Masters Within The Module & Masters Data Management Logs Bank Reconciliation
• Debit Notes/Credit Notes Journal Entries
• Accounts Payables Management With Ageing Analysis Accounts Receivables Management With Ageing Analysis Credit Control Integrated With Sales Module
• Collection Management Integrated With Sales Module Inter-Location/Branch Transfer Entries
• Party To Party Adjustment Entries Voucher Posting Reversals
• Cost Centre
• Budget Allocation & Tracking
• Cheque Printing – Supporting CTS Format Only
• Configurable Balance Sheet With Drill Down Up to Voucher Entry Configurable P&L With Drill Down Up to Voucher Entry
• Trial Balance – With Multi-Location/Branch Consolidations, With Drill Down Up to Voucher Entry Foreign Currency & Exchange Rate Calculations
• Indian Taxation – GST/TDS Audit Trail Logs
• Multi-Supplier/Customer Linkage With Single Sub-ledger

Materials Management

Key feature: Visibility of consolidated stocks across locations/branches
Features

• Related Masters Within The Module & Masters Data Management Logs MRP Planning – BOM Explosion To Identify Buy Item Requirements
• Re-order Level Analysis
• Purchase Order Management (Creation, Approvals, Amendment, Short Closing Etc.) Purchase Order Delivery Schedules
• Goods Receipts (Creation, Approvals, Rejection, Reversals) Goods Receipt With Direct Purchase Bill Booking Incoming Inspection Disposition Only
• Goods Return To Vendor
• Advance Management Against Purchase Orders Charges & Levies To Arrive At Landed Cost Of Goods

Sales Management

Key feature: Mobile app for easy order booking/collections
Features

• Related Masters Within The Module & Masters Data Management Logs Credit Control
• Price List & Discount Management
• Sales Order Management (Creation, Approvals, Ammendment, Short Closing Etc.) Dispatch Management
• Sales Return (Creation, Approvals, Reversals) Collection Management
• Key Account Management – Customer/Product Wise SPOC/Customer Associates

Manufacturing Management

Key feature: Easily control effective Material Requirement Planning (MRP) with BOM explosion
Features

• Related Masters With The Module & Its Management Bill Of Materials
• Material Requirement Planning (MRP) De-grading
• Label Printing With Barcoding Features Yield Management – Scrap & By-Products Batch Costing
• Batch Tracking
• Batch Splitting & Merging

Inventory Management

• Related Masters Within The Module & Masters Data Management Logs Item Master Control Location/Storage Point Wise
• Lot/Batch And Serial Control & Tracking
• Material Issue (Creation, Approval, Short close, Reversal) Material Issue Return
• Stock Valuation (FIFO, Weighted Moving Average) Multiple Units Of Measurements
• Stock Ledger
• Visibility Of Consolidated Stocks Across Location/Branches Stock Ageing
• Kitting
• Stock Transfer – Inter Unit/Warehouses/Locations/Branches Storage/Warehouse Location (Rack/Bin/Shelf) Wise Stock Management Batch & Expiry Tracking