What is ERP (Enterprise Resource Planning) and Why is It Important?

Enterprise resource planning is defined as the ability to deliver an integrated suite of business applications. ERP tools share a common process and data model, covering broad and deep operational end-to-end processes, such as those found in finance, HR, distribution, manufacturing, service and the supply chain. ERP uses the latest technologies such as machine learning and artificial intelligence to provide intelligence, visibility, and efficiency across every aspect of a business. ERP comprises of 

  • Purchasing
  • Human resources
  • Development
  • CRM
  • Finance Accounting
  • Project Management

Different Types of  Enterprise Resource Planning

 It’s very difficult to classify the category of ERP. ERP can be grouped by functional levels, business size, and deployment. To simplify the types, ERP can be grouped as follows:

  1. Generalist ERP
  2. Open-Source ERP
  3. Vertical ERP
  4. Small Business ERP

Benefits of Enterprise Resource Planning

Higher productivity:- It will help you to streamline and automate your core business processes to help everyone in your organization do more with fewer resources.

Better insights:- ESP will eliminate information silos, gain a single source of truth, and get fast answers to mission-critical business questions.

Accelerate the reporting:- It will provide you Fast-track business, financial reporting and easily share results. Also, it will act on insights and improves performance in real-time.

Lower risk:– It will maximize business visibility and control. While it will also ensure compliance with regulatory requirements, predict and prevent risk.

Simpler IT:- By using integrated ERP applications ESP share a database so that you can simplify IT and give everyone an easier way to work.

Improved agility:- It will provide efficient operations and ready to access real-time data. You can quickly identify and react to new opportunities.

Features of Enterprise resource planning

Feature of ERP (Point Of sale)

  • Billing and order processing
  • Sales monitoring and reporting
  • Inventory and stock management
  • Cross channel returns management
  • Customer relationship and experience
  • Employee management
  • Loyalty programs and gift cards

Feature of ERP (Subscriptions)

  • Well  designed Subscriptions Management Module
  • Online payment Support

Feature of ERP (Multiple Stores)

  • Creating multiple stores under one brand
  • Assigning stores to an employee

Features of ERP (INVOICING)

It generates automated sales invoices including calculating sales tax, finance charges, and discounts based on payment terms-either on a one-time or on a recurring basis.

  • Custom tax rate per products
  • Select Tax Type for invoices
  • Delivery Note
  • Proforma Invoice
  • Custom discount product per products
  • Integrated stock manager
  • Get online payment with unique invoice link
  • Decent invoice printing template.

Features of ERP (Quotations)

Quotations mean a standard process to invite suppliers into bidding on products or services and are often referred to as a request for quotation. It involves more than an item’s price and information such as quality, payment terms, and contract length are also included. 

  • Send Quotes with the proposal as Email
  • Convert quotes to invoices

Features ERP (Purchase Orders)

A purchase order system helps you reduce costs and improve vendor relationships by automating and centrally managing your global purchasing processes. Such as:-

  • Automatic Creation of Purchase Orders
  • Multilevel Approval
  • Partial and Consolidated Receipts and Vouchers
  • Integrated to Inventory Manager

Features ERP (Inventory Management)

It tracks the payments and flow of finances into your Accounts. Inventory management helps you avoid mistakes and take quick decisions. It enables the most efficient stocking methods for your inventory and helps improve all the internal operations, including:-

  • Track Stock worth category wise
  • Manage Product WareHouses
  • Manage products with live stock status
  • Auto Email/SMS Alert for low stock
  • Product variations – like color size

Features ERP (Customer Management)

  • Contact Management
  • Sales Team and Customer Opportunity Management
  • Lead Management for Determining High-Quality Leads
  • Reports and Dashboards
  • Sales Analytics.
  • Mobile CRM
  • Sales Force Automation
  • Sales Forecasting.

Features ERP (Supplier management)

Supplier management is a process that ensures that value is received for the money that an organization spends with its suppliers. It will makes sure that several activities occur like

  • Get Record Purchase orders
  • Payment record to supplier

Features ERP (Accounts)

Sharpen the company’s competitive edge through flexible, comprehensive and auditable accounting controls and real-time reporting.

  • Payment for invoice will reflected
  • Sales & Purchase is integrated to accounts

Features ERP (Transactions)

You can manage cheques easily, generate cash/cheque deposit slips and track them. Like you will get

  • All Payment activities record
  • Make Custom transactions

Features ERP (Data & Reports)

ERP offers analytical and shrewd reports relating to manufacturing accounting across the enterprise. Analytics and reports also help manufacturing businesses to implement some effective strategies for improving business efficiency such as

  • Company Complete Data & Reports
  • Accounts Statements
  • Income
  • Expenses
  • Sales & Purchase TAX Statement

Features ERP (HRM)

HRM maintains a complete employee database including contact information, salary details, attendance, performance evaluation and promotion of all employees. It refers to the systems and processes at the intersection between human resource management and information technology. Information are like

  • Employee Payroll
  • Employee Attendance, Holidays
  • Employee Salary
  • Employee Salary History & Increment

Features ERP (Project Manager)

Project management consists of a suite of applications around project portfolio management. It includes functionality for project costing and project resource management. This is useful and easy to use project management module is included with options like view and comment by Customer.

Features ERP (Task Manager)  

The task management system should be integrated with other computer programs such as accounting software, customer relationship management, and human resources (HR) management system and other software solutions that are used for running your business.  By this Business owner/manager can assign tasks to employees

  • Planning and scheduling
  • Assignment
  • Notification
  • Prioritization
  • Centrally controlled user permissions

Other Services of ERP

ERP is also providing SMS Integration, reCaptcha, Short invoice URL in SMS, Notes, and Documents. You can provide an invoice directly to your customer via mail. It is providing different types of services like:-

  • Multiple Payment Gateways
  • Mobile Friendly
  • Editable Email Templates
  • Backup systems

Requirements of ERP

  1. Files included : HTML, CSS, PHP, SQL
  2. Software framework: CodeIgniter
  3. Software version : PHP 7.x, MySQL 5.x
  4. Software updates version: Free
  5. Server: Cloud Server