Increase Profit Margins with Enterprise Resource Planning

enterprise resource planning

Enterprise Resource Planning

Planning plays the most crucial role for any successful system. Every system consists of multiple resources which when utilized with proper planning gives the maximum throughput.An Enterprise also consists of multiple resources such as time, employees, inventory, machinery, warehouses, workplaces, money, etc which needs to be properly planned for utilization. ERP systems not only provide resource planning but also helps to set up proper and effective, manual and automatic processes.Manually planning of so many resources in parallel is cumbersome and always difficult to maintain the same standards.Good ERP system can help plan and utilize resources very efficiently hence help to increase company’s profit.Below are some of the key benefits of enterprise resource planning  systems that in turn helps to improve the profit;

1. Processes:

Required processes can be setup using ERP system that needs to have adhered all the

time which will reduce Operational time, repetitive work and human errors. Automated

Processes can be setup that reduces human efforts as well as errors.

2. Data Hiding:

Department Wise processes and Employee level access segregates the data that is

visible to employees. This helps in hiding unnecessary data that differs between different levels.

3. Centralized system:

Instead of using multiple systems for different purposes, ERP system like ODOO has all

these systems integrated and functions as a single system. This in turn helps to keep data in a single database which can improve reporting, centralization and reduces cost for different systems.

4. Inventory Management:

A Managed Inventory plays a crucial role in planning the orders for any Organization.As the system is Centralized we can keep track of each stock moves that happens due to various

processes (Sales, Purchase, Warehouse, Manufacturing, etc) and account the inventory.

5. Accounting and Reporting:

Accounting Journal entries will be done totally automatically based on invoice and inventory moves to keep track of inventory value. As the entries are automatic based on the process rather than manual you can get a full-fledged Accounting Reports just on a click of button.Organizations can also set automatic billing processes like Recurring Bills through emails,Payment terms, Payment reminders etc which helps to keep track of the payments.

6. Planning:

enterprise resource planning helps to plan better as it has all the data at one place.

  • Dashboard: Helps to identify current performance to measure progress and can have

current statistics.

  • Business Intelligence: Data can be processed whose outcome can help to improve business planning.

7. Supply Chain Management:

A good managed Inventory with present and future orders can give us the forecast of the

required materials early in time. Automatically generated Procurement improves material planning as well as purchase management.

8. Lead Management System:

An ERP system can help saving leads in the database and manage them. This helps to

keep track of leads and approach them in the future if required.

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