The ERP Solution to effectively manage your business
Abaris ERP system is a company-wide computer ERP software system used to manage and coordinate all the resources, information, and functions of a business from shared data stores. An ERP system has a service-oriented architecture with modular hardware and software units or “services” that communicate on a local area network or cloud-based ERP System. The modular design allows a business to add or reconfigure modules while preserving data integrity in one shared database that may be centralized or distributed. ERP Software modules include Finance Resource Management, Supply Chain Management, Human Resources Management, Customer Relations Management, Manufacturing Resource Planning
Abaris ERP Software provides its clients with a diverse range of products which include Material Management System (MMS), Production Process Management System (PPMS), Human Resource Management System (HRMS) and Financial Account System (FAS). All of these ERP’s are meant for different proposes and can have different advantages and features, but the common advantages and the feature of an ERP are as follows.
Finance module in ERP software – key features and components
Automating the solutions for the back-office routine improves the performance of any company. ERP is a platform that you can rely on where you access any type of data in real time. It means that any updates and changes are available in a moment after they have been finished.
It’s a powerful solution for managing the financial part of the business and integrating with other units. You can integrate it with production, sales, shipping, management, etc. All transactions are available from any device and in any location. No handwork and no mistakes in making the calculations. Complete transparency and everlasting records of the transactions make a financial module a valuable tool.
In the absence of an ERP system, a large manufacturer may find itself with many software applications that cannot communicate or interface effectively with one another.
Increase speed, efficiency and overall customer experience
ERP for Supply Chain Management
Over the past few decades, businesses have been using smart business automation software to gain operational efficiency, enhance productivity, and achieve profitability. With time, businesses evolve and they need to adapt to various changes in the market scenario to remain agile. To this end, businesses need to automate and streamline their operations across various departments and functions such as finance, accounting, human resources, production, material management, quality management, distribution, and sales. Organizations use Enterprise Resource Planning (ERP) software to manage business information, integrate various disparate systems, streamline workflows, and achieve efficiency.
Supply Chain Ecosystem
Supply chain ecosystem typically consists of manufacturers, suppliers, distributors, retailers, and customers. Supply chain management (SCM) involves planning, execution, control, and monitoring of supply activities. An ERP solution takes care of physical aspects of supply that includes storage and transportation and the market aspect of effectively managing demand and supply to meet customer demands. Feature-rich ERP software adds value to the entire chain starting from material procurement to end- customer product delivery. An efficient ERP solution coordinates and integrates three key flows: material flows, information flows and financial flows.
ERP as an integral part of Supply Chain Management
Supply chain management has been an integral part of the ERP solutions adopted by several enterprises. Manufacturers need to interact with various suppliers and partners to obtain the raw materials and resources at the right time and at the right amount to bring finished goods to market. Businesses are actively focusing on several supply chain strategies to boost plant productivity, enhance product quality, and cut down on manufacturing costs. As the operations become more extensive and globalized, the integration of SCM becomes all the more important. ERP solution can support multiple modes, such as make-to-order, engineer-to-order and configure-to-order and provide operations support across multiple sites in real time. ERP solution streamlines the path their products go through from supplier to warehouse and finally to store for the customer. As a result, businesses can avoid supply chain disruption.
Role of ERP in Supply Chain Management
1. Demand and planning
An ERP system meant for supply chain management can automatically create demand when orders are received. ERP streamlines supply chain management by creating effective job scheduling. As a result, supervisors can know in real time what resources are being consumed and which resources are used. This helps them to plan product delivery dates. Production should ideally begin when inventory and raw materials are full. ERP ensures that production policies are consistent with demand, replenishment is done at the right time, and inventory is lean.
An ERP meant for SCM offers a more effective way to manage procurement and supply of the goods, services, and other resources across the chain. From handling manufacturing and warehouse resources to managing transportation and execution processes, ERP solution takes care of all elements of the supply chain. Several manual tasks such as communicating with vendors and suppliers and keeping track of the communications can easily be automated with ERP.
The ERP system enables the creation of bill of material (BOM) for each item. After production starts, all records for machine and labour resources are created and updated in real time. All shipping documents are recorded through the ERP system for proper supply chain management, eliminating errors due to the manual process. The system can ensure that products are sent out in time which can be delivered on the due date. Feature-rich ERP helps in modifying work orders and job tasks to accommodate all last minute alterations so that the production process is completed on time.
Once the item has been shipped, the ERP software can create an invoice that has to be finally sent to the customer. An ERP system helps in maintaining a central repository for customer shipments and all delivery details to ensure that items are delivered on time. Furthermore, functionalities in the system help in deciding packaging methods and set criteria for quality check for both internal and external packages. With the help of ERP, companies can resolve resource conflicts in the task list.
Competitive Benefits of ERP in Supply Chain Management
Modern ERP solutions add value across each part of the supply chain by augmenting efficiency across different departments and key stakeholders consisting of suppliers and partners. Automation of the entire workflow from procurement to product delivery leads to a significant reduction of overhead and operational costs. A modern ERP streamlines the path that the materials, finances and information take from supplier to customers. In the end, a robust ERP solution meant for supply chain management help retailers keep total control of the cost of storage and meet customer demand.
Some of the key benefits that ERP offers to supply chain for businesses are:
- Effective demand forecasting and lean inventory: An ERP solution in SCM improves the accuracy of demand forecasting and ensures that the cost of inventory is minimized in case of the large-batch production process. A lean inventory is essential to address the just-in-time production method to reduce the cost of production and keep supply chain flexible.
- Reduce production bottlenecks: ERP for supply chain significantly reduces the bottlenecks between internal processes and external suppliers. The modern solution helps in handling proper procurement and supply of the goods, services and other resources that are needed across the supply chain.
- Transparency through the business: The consolidated view of the supply chain enables the business executive to make more informed and balanced decisions with ERP for the supply chain.
ERP for Supply Chain Management Helps in Overall Organization Growth
Companies need to make substantial improvements in logistics performance for overall organizational growth. The key to maximizing the operational efficiency is by minimizing space wastage on store shelves and in reducing costs spent on warehouses or distribution centres. As per recent statistics, businesses spend at least 25% of their budget on ERP which has robust supply chain management features. ERP solution is an integral part of managing supply chain risk making the entire chain more resilient to accommodate changes in market demand. An agile supply chain not only brings productivity to the manufacturing process but also enables better tracking of resource utilization. Furthermore, a synergy between ERP and supply chain provides store owners with better supply chain management efficiencies leading to significant ROI. Ultimately, an ERP solution offers a holistic view of the entire business operations.
Human Resource Management
Human Resource module in resource ERP streamlines the management of human resources and human capitals. It comprises of 4 broad sections, mainly Training, Recruitment, Payroll and Attendance. HR module in resource routinely maintains a complete employee database including contact information, salary details, attendance, performance evaluation and promotion of all employees.
Customer Relationship Management
The CRM module helps you to boost customer service and, eventually, profit per capita. It manages leads, opportunities, and customer issues. Likewise, it provides a 360-degree profile of your customers by consolidating data like their social media activities, purchase history and past interactions with support reps.
Sales and Marketing
: The module handles sales workflows like sales inquiries, quotations, sales orders, and sales invoices. The more advanced ERP Solution also features taxation rules and shipping tracker. The Sales and CRM modules work together to speed up the sales cycle and earn the company more profits.
This module is sometimes referred to as Engineering or Production. It helps businesses make manufacturing more efficient in areas, such as product planning, materials sourcing, daily production monitoring, and product forecasting.
Benefits of Cloud Business Software
ERP System Benefits:
- Integration among different functional areas to ensure proper communication, productivity and efficiency Design engineering (how to best make the product)
- Order tracking, from acceptance through fulfilment
- The revenue cycle, from invoice through cash receipt
- Managing inter-dependencies of complex processes bill of materials
- Tracking the three-way match between purchase orders (what was ordered), inventory receipts (what arrived), and costing (what the vendor invoiced)
- The accounting for all of these tasks: tracking the revenue, cost, and profit at a granular level. ERP Systems centralize the data in one place preventing loss of sensitive data.
ERP System Features:
- ERP facilitates company-wide Integrated Information System covering all functional areas like Manufacturing, Selling and distribution, Payables, Receivables, Inventory, Accounts, Human resources, Purchases, etc.,
- ERP performs core corporate activities and increases customer service and thereby augmenting the Corporate Image.
- ERP bridges the information gap across the organization.
- ERP provides for complete integration of Systems not only across the departments in a company but also across the companies under the same management.
- ERP is the only solution for better Project Management.
- ERP allows the automatic introduction of latest technologies like Electronic Fund Transfer (EFT), Electronic
- Data Interchange (EDI), Internet, Intranet, Video conferencing, E-Commerce, etc.
- ERP eliminates most of the business problems like Material shortages, Productivity enhancements, Customer service, Cash Management, Inventory problems, Quality problems, Prompt delivery, etc.
- ERP not only addresses the current requirements of the company but also provides the opportunity to continue improving and refining business processes.
- ERP provides business intelligence tools like Decision Support Systems (DSS), Executive Information System (EIS), Reporting, Data Mining and Early Warning Systems (Robots) for enabling people to make better decisions and thus improve their business processes
An ERP system is capable of providing a large amount of information and data regarding various items at relatively high speed and accuracy. The system also provides with exceptionally high levels of security. The system is capable of working in a highly diverse environment and can perform tasks across various companies, is multilingual and can handle transactions in various currencies.
Abaris ERPs are cross-functional and enterprise-wide. All functional departments that are involved in operations or production are integrated into one system. In addition to manufacturing, warehousing, logistics, and Information Technology, this would include accounting, human resources, marketing, and strategic management.
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