Enterprise Resource Planning (ERP) systems are chosen and implemented by organizations for myriad reasons – from streamlining Order to Cash and Purchase to Pay processes, to simplifying recruitment practices and payroll
processes. Each organization’s needs & requirements are unique and the ERP system chosen should be able to cater to these requirements. With numerous options to choose from, it is vital to outline and document what is required from the system right at the beginning. Some of the key areas to be considered when choosing an ERP solution:
Finance & Accounting (Payables & Receivables): The goal of every business that invests in an ERP system is to gain greater control over their financial activities. The ERP system should allow for an integrated management interface resulting in higher levels of productivity, greater transparency and efficiency with the ability to explore and analyze data upon which faster, better decisions can be made.
Supply Chain Management: All successful businesses focus on streamlining their Supply Chain management, as it directly impacts profitability by optimizing inventory levels and controlling cash flow. An ERP system should help to optimize, refine & streamline the Supply Chain management functions across the organization.
Order Processing & Management: Managing customer orders and timely processing is essential for a business. An order processing module within an ERP system should help an organization better manage order entry, credit checking, shipping, sales analysis and reporting.
Human Resource Management & Payroll Processing: A robust HR & Payroll solution can improve the management of staff across the organization, proving to be a great benefit for any organization irrespective of its size. There are few ERP vendors that offer a complete solution as part of the ERP system.
Cost & Profit Centers (Projects & Divisions): When business activities such as billing, expense management and human capital management must be accounted for and incorporated into your overall balance sheet based on different dimensions, ERP solutions can play an important role in helping your organization achieve this, run smoothly and provide the necessary insights to accommodate growth and scalability.
Edge ERP has been developed to address these key functional areas and help organizations focus on their core revenue-generating activities. Many organizations are not ready for a full ERP implementation, mainly due to budget constraints, but may still want to select a system that is scalable and will allow for future growth. Edge Financials provides this platform by offering all the main features of the Edge ERP system, with the option to scale up in the future, as and when required.
Click here for more information on Edge Financials and how the system can help streamline your business.