What is ERP Software or what is ERP System?

ERP stands for Enterprise Resource Planning. It is a range of software solutions that can help to streamline & ease business processes among various departments of an organization. ERP is also commonly referred to as Manufacturing Software, MRP (Material Requirements Planning) Software, and Inventory Control System.

Cloud-hosted ERP is deployed on Cloud or on-premises based upon the different criteria that hold importance for a business and its decision-makers. A cloud ERP allows its users to access the software application from the internet. It is also known as SaaS or Software as a Service model. In this model, the software application is deployed on remote servers. On the other hand, on-premises ERP is deployed on local servers owned by the business which can be accessed only from the location where it has been implemented. While on-premises solutions have remained a favorite of the past, ERP on cloud has become the preference of futuristic businesses.

RELATED LINKS

• Components of ERP you Need to Know
• All you need to know about ERP for Small Business
• Top 3 Reasons ERP is Important for your Manufacturing Business

TOP WAYS A CLOUD-HOSTED ERP HELPS MANUFACTURING BUSINESSES

Cloud ERP solutions offer numerous upfront benefits to business owners when compared to on-premises software. It has proved to be a boon to businesses especially during the present times of the pandemic when it is more important to keep your task force safe while running the business uninterruptedly. Cloud ERP in India has been a game-changer with its robust and powerful solutions that offer immense flexibility to the users while maintaining data security.

Manage Remote Workforce

The changes that have taken place over the last two years have changed the way businesses operate. Now, there are fewer brick-and-mortar businesses as most are moving to virtual or online stores through e-commerce applications. As a result, more employees are working from remote locations. Cloud ERP enables employees to access and operate the business from anywhere around the world with the help of a stable internet connection, valid URL, user ID, and password. Even small business owners can track their operational progress through a single application enabled with smart reporting and analytics. All this at an affordable cost too!

Estimations and Business Planning

Since cloud ERP serves as a record of your business transactions including analytics like per unit cost and revenue, it becomes easier for business owners to estimate potential demand and profitability during a given period. Also, such analytics and predictions eliminate the wastage due to unplanned operations. 

Control Operational Risks

Since ERP on cloud in itself comprises a range of software managing diverse business operations like purchases, sales, accounting, manufacturing, inventory, etc. the whole system has authorized workflow patterns spread among these departments. It is made in such a manner that one activity is dependent on another. This leaves extremely thin chances for unauthorized processing of operations thereby controlling the operational risks even when the employees are working from home.

Comply with Standard Regulatory Requirements

Often small businesses rely on excel sheets or books to record their day-to-day accounting transactions. Both these methods are prone to human and typing errors which leads to chaos and unreliability of the data present. Later, it becomes too cumbersome to comply with statutory regulatory requirements due to inconsistencies in records. With ERP on cloud, businesses can remain constantly stable in their operational recording process. The preset pricing on unit quantities ensures that there are reduced chances of human error. Also, SaaS solutions are constantly updated on the recent changes in regulatory standards and requirements thereby eliminating any chances of non-compliance. 

Shows Operational Health of each Unit/Department

Small businesses often invest in affordable software which is specific to an operational struggle that they face. The result – only specific operational struggle gets resolved. The overall operational health of each unit or department remains unaddressed which ultimately hits the growth of a small business. Being affordable, a small business can easily invest in ERP cloud software that can streamline all units and departments in a business. As a result, there is transparency, efficiency, and growth in departmental processes. Real-time access to data also allows departments to make faster and better business decisions.

ERP consultants at Turqosoft can help you define your business processes & KPIs. Get advice on how you can leverage technology for the growth of your manufacturing business. Write to us at info@turqosoft.com or call us on +91 9841205845. Also, you can follow us on LinkedIn, Facebook, Twitter, or Instagram for interesting updates.