Enterprise Resource Planning can help any organization in different ways. It can help organizations to maintain crucial business information and data for different business departments including, human resources, finance, manufacturing and supply chain.
With the help of ERP, companies can easily get the information of the orders and these details can be shared across all the departments and units of the company. Apart from this, ERP can raise Purchase Order request instantly, especially if sufficient goods are not available in the inventory, for the manufacturing unit so that they can follow up and produce the required inventory. Moreover, the finance team can issue an invoice for the produced goods. This type of data can be used to predict the future demands of such goods.
ERP system also helps companies to cut down lead time, cut manufacturing costs and offer higher customer satisfaction.
Features of Enterprise Resource Planning
ERP system basically comprises the following characteristics:
- It allows all the business applications to have easy access to a single database, which in turn averts instances of various definitions of data generating
- It can incorporate and functions in real time without the need of batch updates
- erp software enables the management team to access any crucial business information anytime without the intervention of information security department
Where ERP System is Mainly Used?
There are many fields where erp system is highly in demand. Some of these fields include:
- Financial Activities – Enterprise Resource Planning is widely used in general ledgers, account payments and managing cash etc.
- Data Warehouse – It is used as a crucial module for analysing and accessing diverse organizations
- Human Resources – Enterprise Resource Planning is used in rolls of pay, processing of claims, profit making etc.
- Projects – Enterprise Resource Planning is also used for diverse projects for billings and timing etc.
- Manufacturing – In functions of capacitance, controlling the quality flow of work Enterprise Resource Planning is also used.
The Key Role of ERP System
Integration is considered to be the key function of Enterprise Resource Planning system. It involves the integration of crucial business data and information and this integration of data is done in a bid to make accessing easier and work flow faster. Most of the enterprises today prefer creating robust ERP System for the interfaces that are actually external. This helps them to become powerful and cater the needs of their enterprise.
