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What is ERP Software and its benefits?

ERP is short for enterprise resource planning. ERP Software is all moving forward to a paperless and more secure and faster office environment. All the things are done on your computer automatically and inventory is managed through it. It helps to management can easily plan and manage all activities related to company and it is very user friendly. It saves time and extra unnecessary work.
Name of some ERP Software are Time Trim ERP, Navision ERP, Tally ERP etc.

Enterprise resource planning (ERP) is business management software that allows an organization to use a system of integrated applications to manage the business. ERP is an organization’s management system which uses a software application to incorporate all facets of the business, and automate and facilitate the flow of data between critical back-office functions, which may include financing, distribution, accounting, inventory management, sales, marketing, planning, human resources, manufacturing, and other operating units.

Benefits of ERP Software

Most companies will identify Reduction in costs and cycle- time with improve supplier performance, resource utility with Better customer satisfaction as benefits of an ERP Software. An ERP system provides a robust platform to support all major business processes and operations. Common modules include financials, human resources, manufacturing, supply chain management (SCM), customer relationship management (CRM), and management dashboards

Reduction in Costs

One of the most immediate benefits is reduction in cost; ERP helps to reduction in costs, such as lower inventory control costs, lower production costs and lower marketing costs. ERP systems also provide tools for implementing Total Quality Management within an organization. ERP systems play a significant role in reducing cost of quality by ensuring that the company has an efficient and effective quality assurance and management systems.

Reduction in Cycle Time

Cycle time is the time between placement of the order and delivery of the product. ERP helps to reduction in cycle time.

Improve Supplier Performance

The ERP systems contain features which support supplier management and control processes that help organization in managing the supplier relations, monitoring the vendor activities and managing the supplier quality. ERP systems offer supplier management and procurement support systems that help organizations manage, control and coordinate the activities of suppliers.

Improve resource utility

ERP Software helps to improve resource utility. The creation of an accurate, achievable production schedule requires the availability of both material and capacity. The system loads each resource with production requirements from Master Production Scheduling, Material Requirements Planning, and Detailed Capacity Planning. ERP software helps the organization in drastically improving the capacity and resource utilization.

Increase Better customer satisfaction

Customer satisfaction has become one priority for all companies because of every company has high degree data like sales & marketing, customer complaints, order status, permanent and ordinary order, inventory and financial status related to its customers. Customer satisfaction means meeting or exceeding customers’ requirements for a product or service. ERP Software helps to increase better customer satisfaction

Few other benefits are:
  • It helps to removes need for in-house development.
  • It provides integrated database and custom-designed report systems.
  • It support for multiple currencies and languages.
  • It is a real time system and helps to increased productivity.
  • It is easy & simple to use, any user can understand it easily.
  • It makes easy to tracking and forecasting.
  • It helps to improve customer service and satisfaction.