Except for the Accounting Packages, everything is changed in the last 20 years
We should know that in today’s technology world, we are just as smart as the Technology that we use. If we are still using a Accounting software to run our complex enterprises and struggling for every bit of information that we need, it is sad. This is also crippling the growth and the free movement of the enterprise.
The post GST is also posing challenges to declare the accurate data for the monthly returns. Taking this as an opportunity, enterprises must explore end-to-end integrated ERP systems to automate all business processes under one single system. So that it you can get the information from any quarter of the business by a click of a button.
The business is demanding many real-time reports for business itself and from various stake holders. For example :
Bankers, Investors and Auditors
- Inventory status
- P&L and Balance sheet
- Debtor and creditor outstanding status (outstanding bill above 60 & 90 days)
- Accurate data of Sales, Purchase, debit and credit notes and other expenses for GST returns (once the data is given it can not be modified)
- Sales order schedule Vs delivery schedule status
- BOM / Process based product costing for offers (quick response to enquiries)
- GST compliance
- Order replenishment
- Rejections and corrective actions
- Effective payment followup by accounts receivables teams.
- PO schedule Vs supply schedule
- Creditor outstanding status
- Track of rejections
- Sub contracts – Stock in and out tracking, Rejections & material reconciliation
Production & Planning
- SO based or stock based material planning (for strict inventory control)
- Dynamic design changes as per the client requirements and complaints
- Product consumption Vs BOM and rejections
- BOM costing and Batch costing
- Integrated quality for Supply materials and Production goods
- Machine schedule for maintenance
- Spares consumption
- Brake down maintenance
If we look closely, each business function has close connection with other business functions to share the cost and consumption data. Unless they enterprise adopt for a unified application across the organisation, generating the real-time reports will be next to impossible.
Unless the Auditors are going to operate as extended users of the real-time system, this change cannot happen.
But the enterprises are worried about eh Cost and complexity of the ERP systems.
Here is a simple & cost effective ERP solutions that is easy to adopt. The employees are also need to motivate enterprise to adopt for the agile systems to make the organisations future proof.
- Zero risk – 14 days of free trial
- Simple – Go-live within 2-3 weeks of time
All the stake holders connected to the SMEs need to advice and encourage them to embrace right ERP systems to facilitate sustainability of the industries at large.