July 10, 2020 By Bhavesh Surani Category: Magento Development

To talk about an ERP methodology, we can say many organizations can’t imagine their business processes without Enterprise Resource Planning or ERP. IT managers are also looking at ways to shore up ERP systems they need to keep up with their business activities. Besides simplifying the adaptation to  our business infrastructure, you seek ways to tap new features of ERP so business process automation becomes easy.

This is how we can develop a very basic knowledge of an ERP that helps you get an advantage in your business.

What does Enterprise Resource Planning mean?

A centralized relational database rests at the core of ERP that helps build integrated software for the management of the business processes. The system allows a full visibility across many of its departments including warehouses, facilities and business operations to see how effectively it connects these departments and works together. By getting one for your business, you can ensure a better business management. To view data in action all across your units, you have a centralized dashboard that relays real-time information to your organization.

The key role of an ERP methodology is to harness data from scattered sources and secure them. Understanding the core features of ERP helps you select the right product from the widest pool of vendors. Look for these features that every ERP system must include.

Also Read : [eCommerce Business in mind? Get innovative business benefits from Magento Multi-Vendor Marketplace]

Enterprise-wide integration:

Interoperability is the most sought-after function you must ensure while leveraging end-to- end erp software integration across your departments and units. With everything connected, a complete view of the process is accessible anywhere anytime even in the absence of an IT manager.

When a new order is processed, credit check, product queries or system updates initiate. All these processes help ship the product and produce an invoice. Everyone in the business gets a shared view of what’s happening in the organization enabled by ERP software integration.

Hosting

When it comes to choosing which hosting facility you want for your business needs, develop an ERP strategic planning based on cloud ERP or on-premises ERP.

To differentiate between two alternatives, cloud-based ERP runs on a providers’ cloud computing infrastructure, while on-premises ERP relies upon the organization’s data center. You can find another kind of hosting facility which is a hybrid cloud system running on the mix of private and public cloud services.

On-premises ERP come with substantial benefits for the organization, given data security, customization and implementation. However, you must have big resources to invest in the system.

On the other hand, to look for cost-savings, you can opt for platform-as-a-service from a third-party client that offers customization as well as frees heavy system monitoring burden.

Usability:

User-friendliness always makes sure how efficiently you carry on with the systems that serve the purpose in real-time. More often, an ERP can turn out be very complex to work with making it difficult to improve the business process. Unless you have proper system training or develop a learning curve about its applications, your system lies invaluable. When developing ERP strategic planning, it’s better you rethink of a demo.

Platform scalability

Given the development in the technology field, radical changes are happening every time. Staying updated with the trends ensure your flexibility in the ecosystem and help you proceed in the long run. Your erp system must be as flexible as your business so that it can adjust to all changes happening in the next 10 years. Having platform flexibility gives you financial strength and business efficacy.

Flexibility and mobility

Better decision-making depends on how fast you can capture data from in field or onsite. There enters the mobility solutions for ERP, which is going to change the existing customs of data collection through in field participation. Mobility perhaps makes it possible to eliminate delay in up-to-date data accessibility even on the go. It is thereby aiming at satisfying users who want immediate data access and also results on demand. This is what you can expect from your ERP solution capable of providing you an advantage of flexibility and mobility together and improving the business productivity.

Integrated with mobile technology, it gives everyone in your team convenience as well as performance to accomplish your task through any mobile device.

Besides, on-the-go real-time data reporting helps identify potential threats and opportunities, which is key to solving problems at a rapid pace.

CRM and sales management

Developing marketing campaigns depends on techniques of streamlining data from the varied level of sources in an organization. The customer relationship management or CRM dedicatedly management relationship with customers, monitors a number of functions such as sales, marketing, and customer service information. With CRM integrated into ERP, both systems bring a full view over customer interactions, pipeline management, prospecting and more. CRM and ERP together take care of order placement, procurement, tracking, billing, and shipping. The qualities CRM are very much relevant with sales management related to

eCommerce business. Everything activity that happens in eCommerce sales is visible on the shared database. So, any changes happen to the inventory, catalog, prices, and also supply chain is reflected through alerts. At the end, you have a satisfied customer.

Finance and Accounting

With a growing business comes the burden of extensive financial management. To be able to manage financial operations without much pressure, having a financial and accounting module into your ERP is the best solution. You are capable of managing financial chores successfully as you streamline them in a comprehensive manner. Having this integrated module with your ERP eases performance analysis through constant monitoring of cash flow.

HR management

Sometimes known as Human Capital Management, the HR module can supervise many key responsibilities such as payroll management and benefits administrations. These are what something tough with traditional models. Other than this, when you ensure your ERP implementation lifecycle focuses on this module, it is going to help with employee performance analytics, career development, and recruitment processes.

BI report (Business Intelligence)

Business Intelligence being incorporated in your ERP helps you analyze data that your system generates. BI parses data and represents them in a simple understandable format helping you take an actionable decision.

Final Thoughts

Throughout ERP lifecycle management, your organization can get information on the same platform without toggling between different suites. An integrated ERP with all these above features can give your business robust support to nurture growth. If you are someone who wants to have well-built ERP software, Bytes Technolab is the best choice. We are experts in implementing ERP modules for any business industry. Contact us today.

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