Enterprise Resource Planning

Cloud ERP strives and thrives on Software as a service (SaaS) technology. It collects data in real-time from and across all business processes and makes it accessible on the internet. This data becomes the single source of truth and is made available across the business for authorized users like controllers, finance staff, executives, and partners. This will allow them to access accurate information at any time, from anywhere, and from any device.

So, the main difference between a conventional on-premise ERP and cloud ERP is that the central database, software, and systems are hosted online on the internet, as opposed to hardware in a server room for on-premise.

With cloud ERP, there are frequent regular system updates to tap on modern and latest technologies. Cloud ERP requires little to zero manual intervention contributing to greater security. This is even more ideal for enterprises with subsidiaries spread across geographies.

As organizations grow, it is imperative to have consistent, precise, and real-time data for faster decision-making. The need for an ERP arises when businesses realize the strong need for a holistic solution with the following capabilities.

1. To automate and streamline growing complex workflows
2. To provide hygienic data analytics and intelligent insights from real-time information generated by reports
3. To improve efficiency through a common user experience across business functions and well-defined business processes
4. To provide complete control and access to business
5. To enhance collaboration between users by sharing data in contracts requisitions and purchase orders
6. To reduce risk through improved data integrity and financial controls
7. To reduce operational costs through streamlined business processes and best practices

Today, cloud ERP systems are critical for managing thousands of businesses of all sizes and all industries spread across multiple locations. To these companies, ERP is as vital as the electricity that keeps their lights on. Today a lot of organizations are looking to increase operational efficiency and streamline their processes by employing a cloud ERP to make business future-ready.

Increasingly ERP systems have become the table stake for businesses across geographies looking to utilize their resources wisely, immaterial of their size. Be it a conventional ERP or a cloud ERP, they help leaders and key stakeholders allocate human and financial capital to build efficient processes while reducing costs without sacrificing quality and performance.

ERP Modules

An ERP software solution comprises different modules and applications on a single platform, which can be tailored to the specific needs of a particular industry and business. These specific needs cloud be industry and business-specific requirements.

Financial Management: This module is the bedrock of just about every other ERP system. It manages the general ledger and all financial data, tracks every transaction, including accounts payable (AP) and accounts receivable (AR), and handles reconciliations, financial closing, and reporting.

Procurement: The procurement module manages to purchase both raw materials and finished goods, and automates both requests for quotes and purchase orders. Helps in optimizing inventory with demand planning capabilities.

Manufacturing: The manufacturing module typically consists of production management or a manufacturing execution system. The module helps manufacturers plan production and ensure stock availability for planned production runs, update real-time stock status during the manufacturing process, and track actual output against forecasted production. The manufacturing module provides a real-time picture of the shop floor, calculates the average time to produce a product, and analyses supply with forecasted demand for sufficient production.

Inventory Management: The inventory management module keeps track of current inventory levels down to every line and every SKU with real-time updates. It optimizes and maintains stock levels based on present and forecasted demand.

Order Management: This module monitor and prioritizes customer orders across channels both online and offline and tracks their progress through delivery. An Order management module can speed up delivery with flexible fulfillment for improved customer experience and retention.

Warehouse Management: This module streamlines entire warehouse activities like receiving, picking packing, and shipping. The warehouse management module is designed to yield time and cost savings by identifying efficient ways to complete these tasks.

Supply Chain Management: This module streamlines all the (procure-to-pay) activities required to turn raw materials into finished goods or services along with the distribution and timely delivery of these products and services to customers and partners. This module allows the user to manage vendors and enables the best vendor selection for increased efficiency.

Customer Relationship Management: The CRM module is gaining popularity across organizations and industries. It is built to track end-to-end communication across channels and touchpoints throughout the customer lifecycle. The module assists in nurturing the sales pipeline, providing a modern customer experience, and boosting sales.

Human Capital Management: The HCM module helps in keeping track of human capital data from hiring to retirement. It tracks attendance and productivity across departments, manages payroll, teams, and individuals, and helps evaluate performance and appraisal. It is built to assist HR professionals across every touchpoint with the human capital throughout the hire-retire cycle.

Ecommerce: The eCommerce module lets both retailers and brands manage the backend and front of their online stores. Be it B2B or B2C, they can optimize the site, update product details, provide offers, and boost sales. The eCommerce module lets both retailers and brands manage the backend and front of their online stores.

Marketing Automation:  This module helps in executing efficient marketing campaigns, evaluating, and measuring ROI, and rerunning the campaigns after understanding what worked and what did not. It lets the user personalize and optimize marketing campaigns. This module is built to nurture leads, boost sales and increase customer retention.

Business Intelligence: Artificial Intelligence and machine learning capabilities are embedded into the BI module to deliver valuable business insights based on gathered information. With embedded predictive analytics, it is now possible to analyze ERP data to understand what had happened in the past and predict the future.

ERP Solutions