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 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 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 information from any quarter of the business with a click of a button.
The business is demanding many real-time reports for the business itself and from various stakeholders. For example :
Book Keeping, Bankers, Investors, and Auditors
- Inventory
- Stock valuation
- Sales
- P&L and Balance sheet
- Debtor and creditor outstanding status (outstanding bill above 60 & 90 days)
- Accurate data of Sales, Purchases, debit and credit notes, and other expenses for GST returns (once the data is given it can not be modified)
- Statutory reports like GSTR 1 & 3B
- E-Invoicing & E-way bill
- Audit Trail
Customers
- Sales order schedule Vs delivery schedule status
- Job Work order
- Domestic & Export transactions
- 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.
Suppliers
- PO schedule Vs supply schedule
- Domestic and Import transactions (Bill of Entry matching)
- Creditor outstanding status
- Track of rejections
- GST compliance
- Subcontracts – Stock in and out tracking, Rejections & material reconciliation
Inventory Management
- Goods receipt note (GRN)
- Material Issues (Direct and Auto issue BOM based)
- Returnable and non-returnable delivery challan
- Material Return note
- Stok Adjustments
Production & Planning
- Sale order (Customer order / Stock orders) based or stock-based material planning (for strict inventory control)
- BOM – Dynamic design changes as per the client’s requirements and complaints with version control
- Product consumption Vs BOM and rejections
- BOM costing and Batch costing
Quality
- Integrated quality for Supply materials and Production goods
Plant Maintenance
- Machine schedule for maintenance
- Spares consumption
- Brake down maintenance
If we look closely, each business function has a close connection with other business functions to share the cost and consumption data. Unless the enterprise adopts a unified application across the organisation, generating 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 the Cost and complexity of ERP systems.
Here is a simple & cost-effective ERP solution that is easy to adopt. The employees also need to motivate enterprises to adopt for agile systems to make the organisations future-proof.
- Pricing
- Zero risk – 30 days trial
- Simple – Go-live within 4 weeks of time
All the stakeholders connected to the SMEs need to advise and encourage them to embrace the right ERP systems to facilitate the sustainability of the industries at large.
