Often, you must have heard people talk about ‘ERP’ in events, session or you might have seen while you were browsing. No matter where you have heard this, it is important to understand the ERP basics. ERP is the most common word in the space of technology. With the evolution of business, ERP systems are widely used by business right from small to large. Apart from managing business operations, the ERP system provides invaluable information for decision making. ERP systems have become an integral part of the business which is simply inseparable.
Let’s understand all about ERP and its functions.
What is ERP?
ERP refers to ‘Enterprise Resource Planning’ software which integrates various functions of a business into a single unified system. A business, irrespective of size, has to deal with various function like purchase management, sales management, material management, payroll etc. Having a separate system to manage each of these functions is a nightmare. Here is why Enterprise Resource Planning (ERP) software helps the business. Enterprise Resources Planning (ERP) systems bind various functions of the business into a single database. The following are some of the important business functions you can manage using ERP software.
What are the Features of an ERP System?
Production Management: ERP systems helps in planning and optimizing manufacturing processes such as manufacturing capacity, parts, components, and material resources etc. using the past consumption pattern and the demand.
Purchasing Management: Here, ERP systems streamline the procurements process of stock and other supplies.
Inventory Management: Key role of the ERP system in inventory management is to maintain optimum inventory levels.
Sales Management: Increasing the process efficiency by streamlining the order management system right from order-to-Invoice-to-cash.
Finance and Accounting Management: Major role of ERP in finance management is making available all the financial statements for on-time confident decisions.
Human Resource Management (HR): Managing people process and payouts related to employees.
Functions of ERP systems?
DynamicERP by DSPAK
DynamicERP is a DESKTOP Based Complete software solutions of Distributors, Mega Marts, Wholesalers, Retailers & Companies. Which provide a complete solution for Inventories & Stocks also have too much features to manage your setup. Dynamic Solutions Pakistan Developed this software solution in 2017 where you can manage all types of taxes which are followed in PAKISTAN by FBR.
Main Features of DynamicERP.
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