5 ERP Functions That Your Business Needs
Enterprise Resource Planning (ERP) is an essential system for businesses. ERP functions help all scales of businesses to operate and manage their resources in a better way. It also allows the integration of different modules under one umbrella.
ERP has become a critical component for businesses in the last few decades. Organizations need accurate resource management and planning. ERP functions allow them to use all the resources in a single database.
50% of companies will soon acquire, upgrade, or plan to update ERP systems soon. It is the fastest evolving industry and is assisting businesses to grow exponentially.
ERP functions give employees a chance to be more productive and save time. Furthermore, it eases communication. Employees can give feedback about their department’s progress and also set targets and goals in the same ERP. Managers can help improve targets.
ERP allows different information and data entry. It helps with increased accuracy and efficiency. It reduces consistency issues and ensures everyone deals with the same targets.
Best ERP Functions
Finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management (CRM), and workforce management are all common ERP functions. ‘
Professional services automation (service resource management), human resources management, eCommerce, and marketing automation are examples of more functionally-rich solutions. Each business needs different ERP functions. A cloud ERP is a general one. It covers most functions.
The businesses which implement ERP tend to grow more. It provides businesses with a competitive edge in this world of globalization. There are very few chances for mistakes and errors. ERP functions help in minimizing errors and double-entry of data. ERP provides analytics and detailed reports that assist in decision-making.
Some of the ERP functions that you should look for while choosing an ERP system for complete implementation are as follows;
Accounts and Finance
ERP functions help in meeting business needs. Businesses need accurate accounting and finance. ERP also helps businesses with other analyses that are time taking.
This ERP function automates the calculations and updates regularly with each entry. You don’t have to manually enter values and data for it to calculate.
ERP for small businesses can automate many tasks. An ERP comes up with added benefits:
- Provides you with detailed accounting reports. An accounting and finance ERP function does not only create balance sheets, and cash registers, it also provides detailed inventory projections and cash flow management based on it. IT gives you information more than just number data and manages your business effectively.
- It gives more automation and makes data handling easy. If you have two stores, an ERP will manage both stores’ accounts with a single database which will make business more productive.
- It will create error-free accounting. A CIS ERP will eradicate human errors and also, there won’t be any duplicate entries.
Supply Chain Management
Supply chain management helps with tracking each step from the supplies and goods reaching the inventory to its supply to wholesalers and retailers. ERP function of supply chain management provides the employees and managers to enter each supplier and number of items and goods.
It helps with effective management of entry. It further integrates with other ERP functions and modules and streamlines the tasks. It integrates with other modules and helps in managing accounts and pre-ordering of inventory.
CISERP provides cloud ERP with exclusive functions and an easy-to-use interface. It provides all the ERP functions that will meet your business needs.
The ERP function of procurement is also known as purchasing module. Businesses can keep a record of all the trusted vendors for goods’ purchasing. It helps in managing inventory. You only purchase the inventory which is needed immediately and saves cost and space both.
It helps in securing and pre-booking items and products to buy and sell. This function helps in automatic quote generation and later invoice.
Dealings can proceed once the company accepts the price quotation of the products. It automatically updates the inventory levels and assists with efficient management.
Managing Orders with ERP
From order receiving to delivery, an order management function keeps track of orders. The ERP function of order management tracks the order receiving, and generates the receipts. It also keeps a record of all the progress and processing of goods and items.
The order management function is integrated with inventory management. When the orders are completed and delivered, it automatically updates the inventory.
More advanced order management functions will give better cost analysis and cost-effective options for selling goods. It will also provide insight into whether a warehouse will be needed to store goods or the same inventory will be sufficient.
Professional Service and Project Automation
Your company is starting a new project. It needs complete management and a streamlined process. This is where the ERP function of project automation will help. It will allow you to track the status of projects. Teams can work in parallel and this will allow completion in time.
This module can also help in automatic billing and sending bills to clients on time. All in all, it will assist in complete project management.
Smarter ERP Functions with CISERP
ERP functions ease the business processes. It helps business management by providing automation. It helps businesses in project management. ERP is a modern need of business.
In this globalization era, businesses need to manage effectively and find methods to be efficient and competitive. For a free trial of ERP, register now at CIS.
Our experts and consultants will help you with the complete implementation and training of ERP at affordable prices.