Businesses follow a well-defined workflow for every department and process. Generally, every team in an organisation works in silos, which is capable of impeding the growth and expansion of the business. Be it manufacturing of products or maintaining customer relations, every department should interact with the other via proper channels of communication and data flow.
An ERP system can prove to be instrumental to overcome this challenge. An enterprise resource planning software that integrates all business processes—accounting, inventory management, sales, customer relations, HR, marketing, and supply chain management under a single system.
Businesses that entail complex processes can receive profitable advantages from an ERP software. Here’s a list of businesses that must equip an ERP system to increase productivity, streamline processes, and grow the business.
Manufacturing
Manufacturing businesses demand real-time tracking and accurate records. It is essential to keep a check of purchases, finances, inventories, and the status of all business transactions to ensure there’s no delay in production. The ERP system manages raw materials, maintains a record of employees’ working hours, processing invoice requests, and other functions of the business. In the long run, ERP proves to be cost-effective, saves the time of manufacturers, and helps them to increase productivity, efficiency, and accuracy.
Distribution
Distribution is an industry that heavily relies on the demand and supply chain. Therefore, the business must carry out all the functions with attention to details. It is imperative for these businesses to maintain a record of delivered products, demand for that product, and number of units in stock. An ERP system is the best option to keep track of the inventory as it integrates multiple applications and works as an automated process. Also, it helps the employees to have access to all information in one place and stay updated with the status of work.
Construction
In a construction business, the contract manager requires details of all the materials coming in for the project. Also, various tasks are implemented after the supervision of the field office. The budget, deadline, requirement of materials, and human resources, etc. are the details that must be communicated between the onsite and offsite teams. An ERP system helps to carry out these various functions such as keeping track of equipment and materials. It helps to store the documents in digitised form, track the working hours of labourers, manage the payroll process of the employees, and ensure the integration of onsite staff.
Industrial Services
Industrial and professional services comprise various departments that work in harmony. Each department has its function and role to play in the process of the business. ERP solutions provide help in coordinating these various teams. Some of the major departments that are present in most of these organisations are accounting, customer relationship management, manufacturing, human resources, and analytics.
Retail
Retail businesses need to record buying details of the customer in order to study customer behavior. These details help businesses to get insights on the performance of the product. Tracking these patterns helps the retail business grow faster and identify market trends. With an ERP system, it becomes convenient to bring all data in one place and get reports for the same. ERP software also integrates the counting and sales function for the enterprise.
Healthcare
The use of an ERP system in the healthcare sector is crucial because it acts as a valuable tool for saving the medical history of patients. The doctors and caretakers must stay updated with a patient’s medical history to provide the appropriate treatment and medication. Another important role that an ERP plays in this sector is keeping a record of medicines, medical equipment, patient bills, etc.
In case you plan to choose one of the best ERP systems for your small business, you must consult an expert to solidify your decision. Do keep in mind that it is better to host it on a cloud if you have a larger enterprise. It provides more flexibility to the organisation, and we recommend you to invest in an ERP system if you desire a standard business process.
In search of the best in industry ERP system? We at SourcePro offer custom ERP software for all types of businesses. Our services include one of the best ERP systems for small businesses, as well as providing solutions to larger enterprises. Schedule a time for a consultation today!