When you search Enterprise Resource System (ERP) on the web, the amount of information that comes up is immense and a little confusing. Each person has a different understanding of every search result; every ERP implementation can be different as compared to the next. These differences, however, degrade the flexibility that can make ERP such a powerful business tool. These differences are no doubt proper and right but it is still necessary to explain which ERP program should be implemented in which sector or field. To get more into it that how ERP solutions can transform your business, it helps to get a better sense of what ERP actually is and how it works. Here’s a brief introduction to ERP and why it seems like everyone’s talking about it with clarity. Enterprise Resource Planning Software helps to enhance the department that are currently isolated. By the help of this software this isolated departments can get better collaboration and have broader transparency across the firm. The software allows to share the same data and be on the same page, so there’s less confusion cross-departmentally. An ERP system supports most of the business system that maintains in a single database the data needed for a variety of business functions such as Manufacturing, Supply Chain , Financials, Projects, Human Resources and Customer Relationship . ERP software also offers some degree of synchronized reporting and automation. Instead of maintaining separate databases and spreadsheets in which the person has to manually merged to generate reports, some ERP solutions allow staff to pull reports from one system. The common ERP features include a portal or dashboard to enable employees to quickly understand the business performance on key metrics.
Enterprise Resource Planning: – The Business Esteem At its core, Enterprise Resource Planning helps employees do their jobs more efficiently by breaking down barriers between business units. More specifically, an ERP solution:
- Gives a global, real-time view of data that can enable companies to address concerns proactively and drive improvements
- Improves financial agreement with regulatory standards and reduces risk
- Automates core business operations such as lead-to-cash, order-to-fulfillment, and procure-to-pay processes
- Enhances customer service by providing one source for billing and tracking.
When you add up these advantages, the value of ERP—particularly cloud ERP—is clear. With an ERP solution, management have an access to exact information that enables them to make better decisions faster. Not only that, but ERP software helps to eliminate redundant processes and systems, dramatically lowering the cost of doing business overall.
Trending Sector: – Education Specifically built for education purpose, Enterprise Resource Planning systems enable you to:
- Automate admission process: – Every year millions of students apply for taking admission in various colleges. Imagine the number of enquiry forms and admission forms that colleges have to manage. Every form contains analytical information about the students and need to be kept safe and in particular order, which is a very hectic process as far as manual formation is practiced. Therefore admission management becomes the most manual intensive and time consuming activity. Also, the process is repeated every year. Further, managing enquiry forms and application forms is another hectic task. How easy it would be if the whole process is done online. Automating the process would save a lot of time and effort which can rather be utilized for academic activities.
- Fee Management: – This is an important function that has the undivided attention of the management. The process is repetitive and needs to be error free. Students & parents demand for online fee payments. College management ERP not only automates the process but also send notifications to students or parents to make fee payment on time. More technologically advance college management ERP will be compliant with bank reconciliations and reporting mechanism.
- Provide one-stop student access: – This is an important feature as far as educational ERP is concern. As the ERP is been installed by the management, the students can access or check their marks or attendance on a click, by the help of which the technological enhancement can be observed by the help of which educational advancement can be observed.
- Simplify records management: – With one system for all your data needs and a single digital record for each student any department on campus can find the student information they need.
- Engage faculty:-Give faculty the means to enter and update grades, and have personalised access to timely, accurate, and institution-wide information.
- Manage resources: – Managing resource is one of the most important concept as far as the firm is concern. In the previous era ,as the management receives the funds, with the help of book-keeping and manual accounting it was observed, which can considered as very tedious and hectic job. This also reduces the efficiency of the work; in this condition ERP plays a vital role were all the funds and transactions can be observed and transferred on one click. This also processes more transparently.