ERP Software Trends 2018

Vinay Sharma By Vinay Sharma, 10th Apr 2018 | Follow this author | RSS Feed | Short URL http://nut.bz/3ojojz8b/
Posted in Wikinut>Business>IT & Ecommerce

ERP Software Trends - ERP for inventory, sales and marketing, finance and operations. Easily manage and maintain all your periodic audit processes

ERP Software Trends 2018

Every business has its own unique process and it is bound to face operational issues as it grows. This is the time when ERP system comes into the picture to help you resolve your business issues and contribute to your productivity and growth. Both small and large organisations are using ERP Software to better manage their operations. Being a complete accounting and financial solution, it offers visibility in all aspects like accounting, process management, customer management, supplier, invoicing and inventory. The best part of the ERP is that it takes your business to a certain level of automation by leveraging employees with shared information throughout the organisation without the need to keep up manual records.

Trends

1.More efficient supply chains
ERP implementation results in an improved efficiency of upstream as well as downstream supply chains. Manual and redundant entry results in time-consuming paperwork that leads to inaccurate data, but ERP solution eliminates this traditional method. Instead, respective departments are distributed with data on forms and files with a click of the mouse. This results in improved efficiency. ERP implementation leverages electronic circulation of orders and BoM to suppliers, effective monitoring of work in progress (WIP) and visibility of different projects’ status in real time for desirable decision making. To sum up, ERP offers your organisation greater accountability and traceability. Speeding up communication and keeping it streamlined between customers and suppliers help to mitigate lead times, encourage faster order fulfillment and results in prompt settlement of invoices.

2.Higher Revenue
ERP implementation in an organisation helps in improving the company’s bottom line. It allows managers a greater visibility on various aspects of relevant processes. For example, managers can foretell product demands by analysing historical sales data and associating it with existing market demand. This data helps in getting ready for anticipated rise in demand without hurting your revenues due to over or under production. Managers are leveraged with a clear visibility in the process lines and manufacturing to figure out inefficient and redundant activities, which can be optimized to curtailed costs. In addition to that, unanticipated obstacles, which can cause delay in the delivery times can be analysed beforehand by managers to take required actions to curb the losses caused by delayed delivery times or exceeding budget.

3.Streamlined and accurate systems
Bigger organizations usually circulate attachments, spreadsheets and other documents across multiple departments. With different “silos” of information the possibility of errors in case of multiple people from different different departments entering the data. ERP implementation can help to mitigate such errors, which can get expensive. An ERP system leverages users from different departments to gain appropriate level of access to modules they need in the system for required information. Users can also look into the history of a specific information with employees entering them and reverting to changes. Additionally, dual data entry gets eliminated as departments can produce a single document and distribute it to rest of the departments. All the document changes are reflected in real time, enabling multiple departments to gain the same information at any specific time.

An ERP helps you work within a well defined set of processes to manage your business changes effectively.

Tags

Business Software, Erp, Erp Software, Erp Solution, Erp System, India

Meet the author

author avatar Vinay Sharma
Technology Evangelist Cum Blogger, Love to explore new world through words.

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