ERP Software is the short name for Enterprise Resource Planning Software, and it includes various services which ease the task and cost of its users by keeping human work to minimum and letting machine work out some of the core tasks through database management system. It has changed modern industries. Today, it have become a necessity as it has many benefits and since everyone is using it, it really increases competition, and that to a one in which someone with no ERP software cannot survive. It significantly changed the manufacturing sector in a positive manner.
Ever since ERP has arrived the recurring cost for maintaining clerks and workers have reduced and production rates have been improved. An Enterprise resource planning system is a fully integrated business management system covering functional areas of an enterprise like Logistics, Production, Finance, Accounting and Human Resources. It is the process of integrating entire business functions and processes in an organization to attain various benefits
Advantages for ERP software:
- It is able to track records on expenses and income.
- It tracks the payrolls.
- Able to track inventory status.
- Data can be accessed anytime and anywhere.
- Reduces chances of employee’s stealing.
- Time Efficient
- Proper Records
- Lessen the Human Error
- Proper Financial Records
- Inventory/ Stock Management
- Cash Flow Record
- Employee Record
And much more. It gives support to complete management system and can be easily customized as per the size and type of the industry.
Some of the functions of ERP Software are:
- Inventory Management System
- Production Management System
- Employee (Payroll/HR) Management system
- Financial Management System
- Vendor/ Client Management System
- Project/ Task Management System
- Factory Management System
While there are many advantages of ERP software, there are also some disadvantages which make industrialists think twice about their decisions.
- Coordination of ERP software to the organization can be a difficult task, especially for larger industries, thus it involves a lot of planning and pre-requirements before it can be used.
- Sometimes ERP can cost more than less integrated or less comprehensive solutions.
- ERP switching cost can increase the ERP vendor’s negotiating power, which can increase support, maintenance, and upgrade expenses.
But at Iraitech Innovations and Technologies Pvt. Ltd. we deliver less than the market price, according to your budget and requirements as we believe in making partnerships and friendships instead of looting our clients. So, as a conclusion, ERP software does have a lot of advantages if they are implemented correctly, and thus can change how modern industries work.
by Soham Jain