Understand Customized Cloud-Based ERP Software Better

There are multiple software solutions accessible in the market for various purposes. No matter which business you are pursuing, there is always a software solution available for that which can be further customized as per your needs.  But today, we have ERP software under consideration. What are these software solutions, what do they do and where are they implemented. Read the article further to know about the function and usage of the ERP software.

Cloud-Based ERP Software and Its Features 

Enterprise Resource Planning software is a solution that maintains a database of information related to business processes anywhere from inventory to customer relationship management. Many cloud-based ERP solutions allow for the automation and integration of business processes, therefore reducing the amount of manual labor that your team has to perform. Having a centralized database and process enables consistency of business processes, and more importantly, reliable levels of service to customers.

In general, ERP uses a centralized database for various business processes to reduce manual labor and to simplify existing business workflows. ERP systems typically contain dashboards where users can look at real-time data collected from all across the business to measure productivity and profitability.

Possible Customization In Cloud-Based ERP Software

ERP has many other features other than the flow of information between different departments. It is the wide variety of features that are available across software solutions that make cloud-based ERP software popular. Those features can be further customized as per the requirement of a certain business or a specific enterprise.

Inventory Management

Automated inventory tracking is a commonly requested ERP module. This tool can predict when an item will go out of stock and automatically reorder products based on this estimation. 

Accounting

With an automated and integrated accounting system, you can perform actions such as automatically sending invoices to clients with outstanding balances. This module is especially helpful as well because it may look at the actual operating costs to determine profitability and forecast potential revenue growth.

Manufacturing

A human resources module can help you keep track of candidate applications, employee PTO and bonus allocation among other tasks. This function would work by automatically looking at leftover PTO days for employees across the company, calculating how much is owed, and then using employee bank account information to submit payment.

CRM

Customer relationship management can analyze customer browsing and purchasing history to send them targeted ads for products that they may be interested in. It can also keep customers “in the know” as to the shipment status of their order.

Supply Chain Management

ERP system built with the supply chain in mind will be more than effective in handling the storing, transporting, managing demand for manufactured goods. From procurement to product delivery, the integration of material, information, and financial information flow cement ERP as an essential tool for the efficient supply chain management.

There are more possible tools and features that can be implemented in ERP software. Cloud-based ERP software is becoming an excellent choice yo give to handle your business efficiently. Connect with Finac, experts in developing cloud-based ERP software,  and become better in your industry.