Components of ERP you Need to Know
Though an organization is a single entity, it has many units and departments that function together to attain organisational objectives. It is not an easy task to bring together all the departments for a common goal. Rather, the whole process is extremely challenging with both internal and external forces at play.
An (Enterprise Resource Planning) ERP software comes into play to bring transparency about the workings of different departments using a single software system. Often ERP is confused with accounting and billing systems. While the ERP system includes accounting and billing, it is much beyond the limitations of the same. ERP has various components which aid different departments of an organization to meet their specific functions and tasks. Take a look at the components of ERP that you need to know for optimised business performance:
SUPPLY CHAIN MANAGEMENT
The supply chain is procurement, processing or value addition, and distribution of goods to the end-user. It may involve purchase planning of raw materials, manufacturing process or value addition to the raw material, to distribution management till it reaches the hands of consumers. A robust ERP system helps the employees to manage and track these processes with efficiency and ease using its purchase, manufacturing, and sales modules.
Most manufacturing processes are extremely complex with multiple tasks and sub-tasks to be scheduled and executed. It might involve raw material requirement planning, managing bill of materials, work orders, simple assembling to advanced manufacturing features, work orders, and many more. Using ERP can provide a lean view of meeting these manufacturing functions which can lead to the competitive advantage of reduced cost of production.
CUSTOMER RELATIONSHIP MANAGEMENT
The CRM modules of ERP solutions can help organizations gather and manage customer data, the analytics of which can be used to evaluate customer purchase history for the target marketing. It can also evaluate aspects like customer feedback which can be later used to improve processes and products as a whole.
It becomes very cumbersome to manage the accounting processes of different departments manually. This also means that there can be increased manual errors. The accounting module of ERP software helps businesses maintain fully integrated financial transactions across diverse departments and generate automated reports in a few seconds. These reports can be used for managerial analytics that can be used to improve the processes.
HUMAN RESOURCES MANAGEMENT SYSTEM
If you take care of your employees, they will take care of your business – this is among the most valued philosophies of successful businesses all over the world. Organizations using the HRMS module of ERP can help their employees track attendance, leaves, salary payments, performance management, promotions, and more with much transparency and ease.
Turqosoft is being used across many manufacturing businesses in Kerala. We are among the best ERP Cloud vendors in Kerala. If you are looking for a shift from a standalone system to ERP Cloud Software (SaaS) connect with us through email email@example.com or call us on +91 9841205845. Also, you can follow us on LinkedIn, Facebook, Twitter, or Instagram for a regular dose of interesting updates.