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Ringing in the Christmas bells with ERP applications

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It’s that time of the year when the spirits are high and everyone is in a merry mood. People of all ages are desperately waiting for Santa to present them with a gift they had always wanted.

Is it:

1. Acquiring and retaining the best talent?

2. Increasing manufacturing efficiency?

3. Identifying non-conforming products quickly?

4. Adhering to compliances?

5. Maintaining excellent relationships with vendors, suppliers, and distributors?

6. Collecting and analyzing customer feedback smarter and faster?

7. Generating visually-rich reports?

8. Sending automatic notifications, alerts, and emails to employees and customers?

9. Monitoring employee performance and generating performance reports automatically?

10. Checking whether the supply chain workflow is coherent and functioning appropriately?

11. Clutter-free remote work experience?

12. Top-notch cloud services accessible from anywhere, anytime, and through any device?

Are these questions troubling you?

Wouldn’t you feel great if I told you that Enterprise Resource Planning (ERP) software provides solutions to all these challenges?

In this article, I’m going to tell you what you should wish from Santa this Christmas.

Let’s begin.

ERP software — An antidote for all your business-related challenges.

ERP software is a one-stop solution for all your business challenges. It has several modules — Manufacturing, Supply Chain & Logistics, Finance & Tax, Sales & Marketing, Customer Relationship Management (CRM), and Vendor Relationships — that automate business functions. The best part is that these modules can be customized based on the needs of your business, meaning that you can add and remove modules as per your wish.

Here’s a brief description of each ERP module and why they play a crucial role in your business.

Manufacturing Module

Are you a start-up, SME, or conglomerate that manufactures goods for end-users?

If yes, then ERP software will work wonders for you.

ERP software is loaded with multiple features such as:

   Bills of Materials (BOM):

This function will enable you to track material, assemblies, sub-assemblies, formulations, mixes, and their associated costs. It also provides a recipe to manufacture the same products repeatedly. Moreover, BOM shares a blueprint with people working in the manufacturing facility that helps them understand the manufacturing operation flow quickly, thereby increasing their efficiency from day one.

Master Production Scheduling (MPS):

MPS will allow you to identify bottlenecks in the production line, minimize inventory carrying costs, prioritize tasks, and forecast inventory demands. 

<<<Also Read: 3 Advantages of using MRP and MPS in ERP Systems to Meet Increased Demands>>>

Formula/recipe management:

This feature will let you experiment with various pigments and additives to create base formulas while manufacturing chemicals. Moreover, you can also use this function to balance formula ingredients to accommodate physical and cost target values.

Supply Chain & Logistics module

Do you find it challenging to manage the incoming of raw materials and the outgoing of finished goods?

Moreover, global supply chains have taken a new turn since the onset of the coronavirus pandemic. E-commerce solutions have become the norm and digital transactions are on the rise. So, are you ready to take on the supply chain challenges in the post-pandemic world head-on?

ERP software has multiple features that will enable you to deal with logistical challenges conveniently. The following points provide a brief description of the same:

Inventory and warehouse management:

Managing inventory means monitoring everything that comes in and goes out of the organization. This module tracks the source of the raw material and their associated costs. It also checks the quantity of raw materials in the inventory and automatically notifies the vendor if that quantity slips below the set threshold. Moreover, it stores the real-time location of the finished goods in the warehouse that helps while loading them onto delivery trucks.

<<<Also Read: The Impact of Poor Inventory Management in Discrete Manufacturing>>>

Digital transactions:

Digital transactions have risen significantly since the onset of the pandemic. People have reduced the use of cash to protect themselves against the virus. As a result, the use of digital cash applications has broken the roof. Fortunately, ERP software allows organizations to trade with third parties, including vendors, suppliers, and distributors, using digital methods. These methods help make instant and transparent transactions. 

Business Intelligence:

The supply chain and logistics department must have comprehensive knowledge of changing customer preferences and current market trends. ERP software has a business intelligence module that forecasts which products have the highest-selling potential based on geographic, demographic, psychographic, and behavioral patterns. 

ERP applications

Customer Relationship Management module 

As a businessman, you understand why it’s crucial to develop a concrete relationship with them.

But do you know that it’s five times more expensive to acquire customers than to retain them?

Fortunately, ERP software has a CRM module that will help you develop robust and long-lasting customer relationships. The following points will explain how:

Send automatic notifications:

Email marketing is the oldest yet one of the most effective channels of reaching a significant audience. Similarly, social media marketing has also gained tremendous importance recently. Thankfully, the CRM module sends automatic alerts and notifications to customers using emails and social media apps. It helps spread the news about any new products or upgrades in the existing line of products to a large audience.

Collect customer feedback:

In the digital age we live in, it’s essential to get a comprehensive view of what your customers think about your products. Fortunately, CRM software collects and stores customer feedback in a single repository visible to all relevant stakeholders. As a result, they can check customer reviews and brainstorm unique communication strategies to deal with different sets of customers.

Solve customer queries: 

Today, customers try to unearth complete information about a product before making the final purchase. Therefore, building a fully functional customer care team is essential for your company. They share the product’s benefits and applications through various channels, including email, social media sites, and chatbox, with customers, significantly increasing their selling potential.  

ERP applications

Finance & Accounting module 

Maintaining a steady cash flow and doing financial planning are necessary for companies across industries. Moreover, in the fast-paced world we live in, companies must also brainstorm on minimizing operational costs, building fail-safe mechanisms against increased regulatory requirements, and managing investor scrutiny. 

Thus, monitoring the financial health of the company isn’t feasible without top-notch ERP software. 

Here’s how ERP systems can help you to keep your finances intact.

 Performance tracking: 

You can measure the company’s performance against operational and financial KPIs. Thus, you can deploy course correction strategies if the performance isn’t up to the mark. Moreover, when used with a powerful analytics tool, ERP software can leverage historical data and predictive analytics to create a blueprint of the changing customer preferences and market trends. It helps course-correct performance metrics as per the changing financial landscape.

Tracking finance variables:

You can measure finance variables like accounts payables & receivables and store them inside a general ledger visible to each department. Moreover, you can quickly process and share financial statements, convert hand-written records into electronic records, collect invoices, and document funds for the creditor, vendor, and other third parties. The best part is that you can also generate visually-rich finance reports that give a complete picture of your expenses, profits, and customers won and lost over a given period.

>>>Also Read: Tips to find the Right Accounting Software for your Business<<<

Stores critical finance data in one place:

Storing data in one place is essential because it helps file tax returns conveniently, detect frauds and stolen data, get a complete breakup of spending across different departments, and share notifications regarding financial transactions with each department instantly. 

ERP applications

The primary motive of this article was to provide a brief introduction to the capabilities of ERP software and how it can manage all business functions quickly and efficiently. 

Would you mind downloading the solutions capabilities guide to learn more about how Sage X3 ERP software will automate your business functions and help you transform into a market leader? 

ERP applications

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At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. You can also write to us at sales@sagesoftware.co.in.

Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.

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