Enterprise Resource Planning is the proven technology designed for business management and implementation of such technology in businesses can be beneficial in different ways. ERP is a suite designed for integrated applications that can be used by enterprises so as to collect, store and interpret crucial data and information within different departments about their business activities. This includes service and manufacturing delivery, product cost and planning, marketing & sales, payment and shipping and inventory management. ERP offers integrated view of all the fundamental business processes and everything is performed in real time. The system makes use of common stored databases that are maintained by the management system.
What Functional Areas Can be Covered With Enterprise Resource Planning?
Implementation of erp service provider can cover a wide range of functional areas. Some of these functional areas include:
- Management accounting that includes activity based costing, budgeting, costing, cost management and more
- Human resource management that includes recruiting, training, benefits, payrolls, retirement and separation
- Financial accounting that includes payables, ledgers, fixed assets, receivables
- Supply chain management is also covered by ERP system
- Order processing, order for cash, order entry, shipping and pricing of inventory are some of the other key functional areas that are covered by ERP
- Project management is another functional area that can be handled using ERP.
How productivity can be improved with enterprise resource planning?
Before the advent of ERP System, companies were required to have their own database in their computer system. Moreover, communications are also not guaranteed with every system, thereby making the process more intricate. But, with the advent of ERP system everything has been systematized because this is the only system that has no concerns on compatibility of diverse computer systems. Thereby, the productivity of the workforce increases automatically with minimal amount of software.
Benefits of Enterprise Resource Planning
There are several advantages associated with erp hong kong. One of the prime advantages that companies can avail with ERP is that all the issues related to finance consolidation and manufacturing applications will be reduced significantly. Implementation of ERP will also reduce the loss of sensitive data that is caused by integrating different security models in single server. Delivery time and production lead time will also be reduced with the use of ERP in your business.