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From legacy inventory systems of the 1980s to the modern ERP systems of 21st century, the development of business management software has undergone huge expansion. The need for automation of business processes to save time and costs made ERP a vital business management tool for the enterprises across the globe.
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Today enterprises are focused on reducing operational costs to reduce the negative impact on their bottom line but rising manpower costs, raw material costs, heavy taxes and costly machinery hits back hard at the cost reduction efforts. Automation of business processes using ERP software can help enterprises in becoming more efficient by utilizing resources optimally.
ERP allows companies to automate business processes according to the pre-defined rules & policies that lead to reduction in administrative costs relating to manual process handling.
Also, in today’s information age, data is the king and efficient management of the business related data can make real difference to the business. ERP systems enable decision makers to make decisions faster that are information driven which is otherwise no possible in the absence of relevant information.
Mobile enabled ERP systems enable staff members and the owners to stay connected to the business anywhere, anytime. Whether you are on a vacation or on a business trip, mobile enabled ERP systems help you to stay connected to your business from anywhere in the world.
Let’s have a look at some of the ways in which ERP can help companies to become more efficient and productive:
Quick access to the insightful information – Managing day to day operations is not an easy task and life becomes even more difficult when you don’t have the right information available to focus on the areas that need attention. A fully integrated ERP or a business management suite such as Odoo ERP provides you with features such as triggered workflows, business intelligence and reporting services, budget alerts, forecast and efficient payroll management.
Beautiful, configurable and customizable menus and screens allow your staff to keep those functions handy that they use on a daily basis. Loaded with over 4500 modules and designed to run in a distributed environment enables larger companies to have a single window of information for a globally distributed business network. With a modern ERP like Odoo, you don’t have to worry about the amount of data you are surrounded with on a daily basis as it converts the data into insightful information in the form of reports and dashboards so you can make decisions quickly.
The other advantage of Odoo is that it is completely mobile enabled. You can be on a vacation, your staff can be on leave but they can stay connected to the business using their mobile devices and access Odoo modules on their smart phones and tablets.
Makes your staff more productive – Legacy ERP systems or proprietary business management software from global vendors are large, complex and need months of training to be able to use it but Odoo is beautiful, simple yet powerful compared to other expensive ERP software available on the market and it is developed keeping productivity in mind. It takes just few days for employees to get familiar with Odoo as it has clean and self explanatory screens that make it simple to use.
You can also customize user screens and menu options so your employees only see what they need and access only what is required. This way they don’t feel overwhelmed with information, overloaded with work and become more productive as business processes are automated.
Controls unnecessary expenditure and Reduces Risk – Modern ERP systems such as Odoo have better and efficient credit control features that keep a check on unnecessary expenditures and reduce the risk of bad debt. It not only helps you reduce your debtor’s days but also creates workflow alerts for seamless business operations and maintains full records of interactions.
Quick access to the overdue accounts listings enables your staff to identify who to contact for payments and saves time. Legacy ERP systems offer credit control functionality only through third party systems that ultimately creates problems for the companies to keep an eye on their budget and expenditures.
Improves Cash Flow- Managing your inventory efficiently and having a 360 degree view of your warehouse can significantly reduce wastage and saves you a lot of money. Inventory and warehouse management module provides inventory forecasting feature that allows you to control production and materials procurements from the suppliers based on the demand in the market that leads to better utilization of the resources and capital.
Modern ERP systems are fully integrated that bring departments such as inventory, store, shop floor, warehouse, suppliers, accounting and production together to give you a holistic view of your business for efficient management and cost savings.
Automates Accounting – Accounting is one of those areas where most of the companies struggle due to ever evolving taxation procedures and laws, repetitive manual entries into the legacy software for maintaining records and unavoidable human errors while preparing management accounts.
Modern ERP software such as Odoo offers the most advanced accounting and payroll module that is powerful, can be configured for over 180 countries with different accounting and taxation procedures, integrated with the bank accounts for submitting statements and requests automatically, allows uploading the data from excel spreadsheets in a single click and automates repetitive tasks.
It also provides reporting services that offer powerful business intelligence dashboards and KPIs to make quick business decisions. Automated accounting leads to a more productive workforce, saves time and employee costs.
ERP plays a vital role in company’s growth, especially in today’s volatile business environment. Companies must do research before selecting ERP or business management software as ERP systems are large, complex and need enough time for deployment. Other factors such as mobility support, enterprise capabilities, scalability and pricing must also be considered before selecting any ERP package. Odoo ERP is license free and it is used by some of the world’s leading corporations such as Toyota, Hyundai, Danone and World Wildlife Federation due to its robust architecture, powerful features and mobile device support capabilities.