Enterprise resource planning solutions
Enterprise resource planning (ERP) is a process by which business management is carried out in several companies across the globe. ERP plays a major role in the areas of collecting, storing, managing, and interpreting data on a regular basis. The area of enterprise resource planning is categorised as a backend pitching service for a company because they do not involve in the company’s direct relations with other firms. Enterprise resource planning has a lot of applications due to which it is being widely used in the industry currently. Let us now look into some of the applications of ERP.
1. Technology and innovation: Enterprise resource planning is a very systematic analysis of data which involves some of the latest technology like Microsoft Dynamics, Oracle e-Business Suite, SAP Business One, Lawson Software, etc for everyday workflow. The usage of such kinds of technology brings about a sense of digitalisation in the entire system and promotes the growth of technology to the outside world. It also requires a skilled set of individuals who know to work with such softwares.
2. Customisation: Every firm has its own ERP databases which they can constantly customise with respect to their product development. The ERP solutions that are utilised by companies differ from their domain of working. For example, a pharmaceutical company will have a different ERP when compared to a software company. This means that a company’s enterprise can be planned according to the products which they sell.
3. Security: Data is one such thing which is very confidential for a company. It must remain within the premises of the company and its employees. ERP plays a major role in protecting this data that is being generated by a company on a large scale every day.
4. Supply chain management: Since ERP is an area which requires a lot of communication between various individuals within the company, it can also be helpful in increasing the popularity or growth of the company by communicating about their services and workflow with other companies who work in a similar domain. The transparency level here is very low and mutual relations can be easily made between multiple companies because of this. Foreign trade and relations can be enhanced because ERP encourages such kind of working policies.
Enterprise resource planning, like other sectors of a company, is a very vast domain. It requires some assistance so that the company can run in a smooth manner without any hindrance. In this regard, companies must consult services providers to manage their ERP sector to stay active and agile in the market. There are several ERP solutions or service providers in the country who make sure that the process by which a company is going about the resource planning is correct and simple. This assistance can certainly help a company to flourish in the market within a short period of time. At present, there is a lot of competition in all the sectors of the IT industry due to the rapid overall growth of our country and the impacts of digitalisation. Let us now look into how ERP can help in the future of our country’s economy:
a. Cost savings: Procure management is the process by which a company can procure its deals and signings. During this process, a company sheds out a lot of money. If this area is replaced by enterprise resource planning, a lot of capital can be saved by the firms on a large scale.
b. Boosted cashflow: ERP is a simpler way of managing several aspects of a company. As we have discussed earlier about how ERP solutions can help a company in saving a lot of money, it can as well contribute the boost of cashflow as well. Innovation and simplicity contribute to a major part of cashflow boost altogether. Both, cost savings and cashflow boost go hand in hand. So, if there is an area in which a company is saving money, the chances for boosting cashflow in the same sector is opening more because of the cost cutting period. Therefore, both aspects are interrelated and are very important for the working of a company.
c. Better customer service: Since the transparency level of enterprise resource planning is very low, many customers feel free to avail the services provided by the company. ERP is one such thing that contributes to the smooth working of the company in an overall point of view.
d. Business process development: Since ERP is focussed mainly on how to manage and interpret the data that is being generated by companies on a daily basis, it also helps in the promotion of a company’s service. If a company is manufacturing products, then these products are placed in the market, thereby highlighting the presence of the company, and enhancing its business.
When we look at how the companies work every single day, it is very interesting to observe the smoothness and coordination in its working. One of the main reasons behind this kind of workflow is the services provided by other agents in the areas of digital marketing, enterprise resource planning, social media marketing, app development, etc which comes in handy for the corporates. These services are provided in the form of solutions by trained professionals and the companies strike deals with them for a short period of time and analyse their growth. According to recent statistics, it has been found out that 47% of the companies across the globe are seeking enterprise planning solutions from others because of the effect that it is bringing to the growth of their companies. Hence, every company should look to build its network and develop their skills at the same time. It is one of the survival techniques in this highly competitive digital world.
Written by – Thejas Shekhar
Content Writer at Futurios Technologies