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Home » ERP » What is ERP in mis?
Running a successful business requires different factors such as time, budget, and best employee skills. To streamline these factors, your business would need advanced systems such as ERP & MIS.
According to recent reports a majority of companies have been thrashing out traditional marketing, sales, financial management, and HR management systems. And this is exactly where MIS and ERP systems come to the scene.
These systems revolve specifically around storage, processing, distribution, and collection of the data through which you can prepare reports, and can offer support for management-related decisions. This in turn delivers effective decision-making and data management process.
But there is a slight difference between the MIS and ERP. Hence it is significant to understand the basics of them to move ahead.
So, let us learn in short what is enterprise resource planning, ERP software, and MIS here.
An ERP system is nothing but a software solution in MIS and acts as a large part of it. This part usually deals with creating routine operations of the business while offering analytical data to the managing heads, facilitating crucial business processes and other functionalities.
Since ERP is a distinctive factor of an MIS, we must mention here that the ERP enterprise resource planning software has emerged as the strongest platform for all SMEs.
Also, the application gets access from a single application from where every department would leverage a fully optimized part, making ERP and MIS modular systems. The greatest benefit of these systems is that they can store data in a central system that is already synchronized.
MIS stands for a management information system. It is a united database that stores critical data regarding personnel, finances, operational activities, as well as varied business processes. The main purpose of this system is that it stores, collects, distributes, and processes the data on which reports are generated. It also covers key features such as long-term as well as current planning, analytical forecasting, and more.
The primary advantages of MIS include task prioritization, improvised personal responsibility, task priority, less paperwork, increased competitiveness, and more.
MIS applications can be traced in various areas. It gears up the data exchange process among different departments including sales & marketing, production, and more. The best part about it is that MIS integration or development can be customized as per the needs of a company.
An ERP offers a number of benefits to its customers. These benefits include greater workflow efficiency, high confidential data security, effective service, improvised supply chain management, high scalability, easy reporting, and much more.
However, the system is fulfilling your every requirement then you should always opt for buying an efficient ERP software.
ERP finds its applications in different industries’ business processes and functions including manufacturing, transportation, logistics, retail, wholesale, financial, and production management.
From the data above, we can conclude that an ERP system is a particular case/module of a management information system. MIS deals with the management of general information and its use.
With it, you can conveniently store and organize data from different sources in a centralized database while generating reports accordingly.
On the other hand, an enterprise resource planning ERP system automates and plans business processes in order to easily forecast business results in the future. So, if ERP integrates with MIS, businesses can experience greater profitability due to its excellent features.
Be it accounting, process analysis, or forecasting the development of future business, ERP with MIS will be the best option. Having enterprise resource planning deployed in your MIS would help get complete and practical control of your current business along with giving access to your real-time data.
Enjoy simple reporting, greater productivity, high confidential data security, and much more benefits through ERP in MIS.