What is ERP and how does it work?
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What Is ERP And How Does It Work?

What Is ERP And How Does It Work?

Does your business lack standardised process? Does it take forever to retrieve a certain data? Are your employees swamped in superfluous and manual processes? Well, here’s a piece of good news for you: businesses can now implement an industry specific ERP software that can streamline operation and support your business needs.

If you want to have a competitive edge in the market, you need to map out unique variables for your business operations. In a cut-throat industry, it is imperative for you to fast-track your processes and reduce operational costs as much as possible. And an ERP solution can assist in doing so.

But, What is an ERP System?

ERP is a software solution used to streamline business activities. Being a suite of integrated applications, it provides assistance in managing key functions of a business.

An ERP software stores and maintains data of all business processes; from human resources and finance to sales and customer relationship management. It is equipped to automate and unify all business operations, thereby reducing the time consumed in manually processing a task. Also, because it is a centralised system, it ensures better workflow and supervision.

ERP systems come with a dashboard where users can view real-time data collated from every department to gauge productivity and profitability. This also aids in identifying redundant tasks, and automating them.

How Does an ERP Solution Work?

An ERP system is designed with a key concept of ensuring every employee is referring to the same data instead of working in silos. If your teams are reluctant towards sharing their data across the enterprise, it can lead to redundant steps, misaligned priorities, lower productivity, and more.

With a centralised solution, you can ensure that the data in the system is accurate and up-to-date. Basically, data regarding every process across departments will be available on the dashboard. So, if you need specific information regarding sales, you have the data on your system.

How Do On-Premise and Cloud-Based ERP Work?

On-Premise ERP

An on-premise ERP solution is installed into the servers owned by a company. If you opt for this solution, you will need software, a hardware, and a team of IT professionals to ensure zero downtime and utmost security.

Cloud-Based ERP

Instead of operating from a company’s server room, an ERP solution deployed in a cloud-based SaaS model functions on a network of remote access servers. And at SourcePro, we manage, and update your ERP software multiple times a year, and ensure that it is up-to-date with the latest technology. We enable you to configure the ERP solution as per your business needs, ascertaining that the tool can assist you in all aspects.

Benefits of ERP
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5 Benefits of Enterprise Resource Planning Software

5 Benefits of Enterprise Resource Planning Software

As businesses grow, managing every operation of a company seems complicated and cumbersome. You need to control processes like finance, human resources, customer relationships, etc. But, streamlining multiple processes, and ensuring a seamless flow of information can be a daunting task. That is when automated solutions like ERP come into picture.

Enterprise Resource Planning (ERP) solution is designed to manage key functions of a company. It facilitates better planning and assigning of business activities. As an ERP solution integrates several business processes, you can supervise every operation. An ERP solution automates superfluous processes, and eliminates manual errors. As it is a collaborative approach, it also enables you to oversee the status of a project.

Following are the benefits of Enterprise Resource Planning software for business:

Improved Efficiency

Because you do not have to pay attention to redundant processes, you save a significant amount of time and effort. An ERP software ensures a faster return on investment by reducing time and improving efficiency. If you install an ERP solution, it saves you from manually updating a piece of information. This not only increases your productivity but also eliminates the possibility of human error.

Accurate Forecasting

Enterprise Resource Planning software comes with multiple tools and features that help users create accurate forecasts, think ahead of time, and thus plan accordingly. An ERP software gives instant reports on the progress of each task, which ensures you are updated about every business function in real-time. This also aids in faster decision-making at your end. With an analytical report that provides the minutest of detail about a task, you can assess risks and remove irregularities in processes. With accurate forecasting, businesses can make realistic estimates, and hence avoid misjudgements.

Scalability

Having a system that can accommodate a company’s growth is paramount. And the right ERP makes it possible! Whether you want to expand your customer base, enter a new market, try out new processes or products, adding a new functionality to an ERP software should be easy. A well-structured ERP software enables the addition of new users and functions to help your business grow with time. When you are ready to grow, enterprise resource planning software can facilitate your growth. At SourcePro, we offer a configurable ERP solution, which grows along with your business. You can add multiple users, customers, and functionalities to our New Horizon.

Reduced Cost

An efficient Enterprise Resource Planning software reduces administrative and operational costs through proper utilisation of accurate and real-time information. It allows manufacturers to manage different operations, prevent delays within production, and break information down, thereby enabling managers to make quick and efficient decisions. Businesses can better manage their time and entrepreneurial resources, eventually saving money and gaining maximum ROI.

Data Security

One of the biggest advantages of using ERP software is data security. Data is in the centre of an ERP software. Sharing data across multiple channels such as customer service, sales, marketing, business development, etc. enhances teamwork. However, the other side to the data circulating across the organisation is controlling who can see and edit the information. ERP solutions have intrinsic controls to ensure that the business data is protected from cybercriminals. ERP platforms maintain a high level of data security by providing a single input system.

Cloud-based ERP systems offer an extra layer of security. The ERP user data also comes with additional security through firewalls and built-in protection measures. Improved security eliminates the risk of important business information falling into the hands of the wrong person. You can achieve accuracy and safety, both through an ERP solution.

Backed with technical expertise and years of experience, our ERP software, New Horizon can give your business a boost by simplifying processes and offering valuable insights.

How ERP Can Be The Source Of Competitive Advantage
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Here’s How an ERP Solution can be a source of Competitive Advantage

Here’s How an ERP Solution can be a source of Competitive Advantage

Technology plays an important role in defining how businesses operate in current times. Continuous advancements might have made our lives easier, but it has also levelled up the competition for businesses. And as a businessman, you need to quickly arrive at a solution to rise above competitors.

Gone are the days when traditional methods were deployed to perform managerial functions. Today, you need to embrace the latest technology and utilise it to its fullest potential. And an ERP solution can help you surmount all obstacles and dominate the market.

What is an ERP Solution?

Enterprise Resource Planning (ERP) is a software that integrates multiple applications to streamline processes across an organisation. It is an enterprise-wide solution that enables you to organise everything into one centralised database. This ensures that every department of an organisation has access to reliable and accurate information, thus enhancing communication between departments.

Implementing an ERP software assists you in being a cut above all your competitors. It also automates redundant tasks and saves you from relying on error-prone manual processes.

Wondering how an ERP can give you a competitive edge in the market? Here’s how:

Increased Accuracy

As aforementioned, an ERP system allows you to automate business processes. This enables you to focus on operations that require closer attention than using up time and energy on accomplishing a task, which a machine can take care of. Superfluous processes can be daunting, and thus can be prone to errors caused by oversight. Automated functions increase accuracy and save a great deal of time.

Tailor-Made to Suit Your Business Needs

When you go for a generic ERP software, it offers all basic features, which you may or may not need. However, if you configure the product based on your business requirements, you can integrate a solution that supports you in overcoming challenges faced by your business, specifically. Industry specific ERP keeps a track of your business activities, and enables you to extract data (specific to your industry) that can help you gain insights and make an informed business decision.

Better Insights

One of the major advantages of an ERP system is that it provides boundless information. Now, because you receive real-time updates, you have accurate data at your disposal, 24×7. It notifies you of the available stock, so you do not overcommit to your business associates/customers. And with easy access to accurate data, you can identify possible shortcomings, and plan against it.

Makes Your Business More Agile

If your organisation is nimble, it means your employees are quick at delivering their work as well as at responding to challenges. And all the aforementioned benefits lead you towards becoming more agile. A collaborative and streamlined business can step your game up by enabling you to be swift at reacting to market changes and pitfalls

To give your business the edge in your industry, we recommend you to go for an industry-specific ERP solution, which is especially configured for your business growth. By going for a generic solution, you might shell out more and receive less, i.e. it might lack important features and tools.

At SourcePro, we provide your business with the advantage of triumphing over your competitors. With our customisable ERP solution, you can give your business a New Horizon, and expand your market reach. So, contact us at +91 79 40200400 and our experts will guide you through the process of ERP implementation.

Leading ERP Software Company For all Business in India - SourcePro