ERP is first an attitude; second, a process, and only third, a set of tools.
What is Enterprise Resource Planning (ERP)?
ERP technologies integrate specific information and critical KPIS from various sources. These sources include finance, operations, human resources, manufacturing, marketing, and sales. An ERP tool puts all of a company’s data in one place. It reduces the amount of manual data entry and lets stakeholders and their teams see the data.
Benefits of ERPs
Information integration and sharing across departments.
Minimizing the number of duplicate processes and data entry
Ensure the security of the organization’s data.
Improved communication between departments.
Increasing workflow efficiency and security.
What is required for the best ERP solution system?
Any ERP solution system must essentially meet the following functional criteria:
It should be a unified system with simple apps and interfaces that interact smoothly across many departments while providing the required regulated access.
A common database (or numerous but shared databases) that can be accessed through many applications
Search and reporting tools must be available to construct reports based on different criteria.
Must be scalable, customizable, and flexibile to easily integrate ad hoc modules as required
The ERP solution system must have the following tools and applications to address the demands of the aforementioned functional criteria:
Tools for Managing Information
The backbones of any enterprise resource planning system are data storage and information management, with a standardized workflow across all departments and tasks.
Apps and UIs with Adequate Access Control
Data management and storage necessitate either read-only or editable access for the data to be processed. Products should be recorded as “ready” in the inventory after they have completed production. It is then marked as “ready for a sale” in the inventory management system. The item’s status has to be changed to “sold” once it has been purchased.
Tool for Managing Workflow
An Enterprise Resource Planning (ERP) system is composed of many modules and data repositories. Here, data updates and activities adhere to a logically defined sequence depending on the requirements of the company. You may think of your workflow as the brain that commands all your bodily processes. Any effective ERP system will have a well-defined process with multi-level access control.
Communication is a crucial aspect of every system that involves more than one division. ERP services make this easier by providing capabilities like instant messaging, chat, and group broadcasting that are triggered by user actions.
Tools for Analysis
Business intelligence, data mining, predictive analysis, and other related analyses may all be included in an ERP system. Based on the facts at hand, these analytical tools help businesses make informed strategic choices.
Allocation and Scheduling Tools
Tools for dividing up personnel and materials between several projects are another useful feature of ERP systems (for labor-intensive industries). These programs base their operations on comparing the amount of time expected to complete a job or complete a project with the time period in which the necessary resources will be free.
When a resource finishes a job, his or her abilities are matched to another task, or they are added to a pool to be allocated later.
Examples of ERP solutions for MSMEs
Effitrac- It provides is an efficient, effective, and unprecedented ERP platform that helps you manage and transform your business processes in various verticals like CRM, project management, GST billing, supply chain management, and more.
Microsoft Dynamics ERP- Millions of people utilise Microsoft Dynamics ERP, an enterprise resource planning (ERP) system, all around the world. It makes administering your business simple and gives you an advantage over your competitors.
Crest ERP- It is one of the best ERP solutions designed to scale seamlessly with your business. CREST accommodates additional business processes and functionalities as your business scale over time. CREST is considered to be a fully integrated ERP product.