Enterprise Resource Planning Systems have gained huge significance and in the current era of technical modernization. Small as well as Large-sized Business Organisations are trusting their faith and resources in conducting their business operations online, with the help of an Enterprise Resource Planning Software. An Enterprise Resource Planning (ERP) Systems Software is a medium of combining the essential data on a centralized platform. ERP Software enables one to get an insight on a fuller picture on the daily operations of a business organisation and offers a privilege to manage all of the individual reports presented by various business processes, including Sales and Human Resources within the ERP Software.

An ERP software is a union of applications which are responsible for managing the elemental business processes, such as Purchasing, Accounting, Customer Support Service, Human Resources, CRM, Sales and Material Management. Therefore, this software is thus an integrated system as opposed to individual software, which is designed specifically for precise business processes. An ERP Software serves the purpose to automate back-office processes and streamline inter-departmental workflows. When optimized, the solution can drive efficiency, increase profitability, and lower the costs.

WHY USE ERP SOFTWARE?

Enterprise Resource Planning Systems increase effectiveness and efficiency, streamlines processes, and advertises a culture of cooperation and unity within any Business Enterprise. However, as a result, this leads to reduction in costs, productivity rise, which can eventually lead to a better bottom line. Let us have a quick insight on of the advantages of an ERP software:

1. Increase in Efficiency
2. Data Security
3. Rise in Operational Flexibility
4. Reduction in Operational Costs
5. Promotes Collaboration and Improved Workflow
6. Customisation
7. Total Visibility

ERP WORKING!

An Enterprise Resource Planning Software is a combination of numerous sections which result in the data being presented on a centralised platform. An ERP Software covers key business processes and comprises of the following modules:

1. HRM: 

   This module consists of tools like Time Tracker, Timesheet Job Profile, and Database for Employee Records. This module may also incorporate Performance Reviews of Employees and Payroll.

   Payroll System is closely knit with the Financial Management Module which includes basic wages, travel expenses, and reimbursements.

2. FINANCIAL MANAGEMENT:

   Financial Management Module manages the capital inflow and outflow of a business organisation. This module comprises Accounting and Financial Transactions such as Expenses, Ledger, Balance Sheets, Tax as well as Payments. 

   Transactional Reports for various Departments and Business Units is also managed by this module.

3. SALES AND MARKETING:                                                                                                                                                                                                                                                                                                                                Sales and Marketing module handles the business's sales workflows, such as Quotations, Sales Enquiries, Sales Orders, and Sales Invoices. An advanced ERP solution also offers additional features including Taxation Rules and Shipping Tracker. An amalgamation of both the Sales and CRM modules, expand the sales cycle and helps an enterprise increase their profit figures.                                                                                                                               
4. MANUFACTURING:                                                                                                                                                                                                                                                                                                                               Manufacturing Module is essential for businesses to make manufacturing more efficient in aspects ofMaterial Source, Product Planning, Product Forecasting, Daily Production Monitoring. The core elements in this module comprise the Bill of Material, Production Scheduling, and Distribution Planning.                                                               
5. CRM:                                                                                                                                                                                                                                                                                                                                                                       The CRM Module promotes and boosts Customer Support and Profit Per Capita. CRM maintains Leads, Opportunities, and Customer Service Issues. Hence, it provides a complete 360-degree profile of your customers by merging data, similar to their Social Media Activities, Purchase History, and Past conversations with Customer Support. CRM is closely knit with the Sales Module, enabling fast track conversions, in an ERP Setup.                          
6.  INVENTORY:                                                                                                                                                                                                                                                                                                                                                 Inventory Module measures the Stock Targets, Standardize Replenishments, and goals related to material management. This Module makes use of Product Serial Numbers to track and locate items within a Business Organization. Inventory has a close tie with the Purchase Module.                                                                                           
7. PURCHASE MODULE:                                                                                                                                                                                                                                                                                                                                 Purchase Module looks after the processes involved in Materials Procurement, consisting of Supplier listings, Quotation Requests and Analysis. It also covers the Purchase Orders, Good Receipt Notes, and Stock Updates. Furthermore, it functions closely with the Inventory Module.                                                                                                                                                                                                                                                                                                                                                            

In addition, an Enterprise Resource Planning Software System helps in modernizing all your organisational functional processes together, which in turn helps in boosting collaboration and enables any business to implement data driven decisions. Furthermore, an ERP Software can thereby allow the businesses to tap into real time information anytime and anywhere. Hence, it also helps in managing the essential data of a business and streamline employee management tasks such as payroll management, eliminating the need of a second software required to maintain personal records of all employees, by making the reporting process more accurate.