Enterprise Resource Planning(ERP)
ERP for Retail, Distribution, Manufacturing & more
Retail
Distribution
Services
Manufacturing
Construction
Transportation
When you have multiple departments and each has their own generic software (or none) then managing company becomes very difficult. To have a forward vision and making plans to achieve goals access to data properly classified and sorted is a must. Irrespective of the type of industry ERP would greatly assist the business in the streamlining process, easing procedural constraints and reducing the burden on staff. Do not let sales suffer and customers dejected. Take control of the situation by making an admirable decision of moving to ERPNext.
Accounts
ERP boasts of complete accounting system with in-depth set of chart of accounts including Bahrain VAT. The module seamlessly connects with all other modules to ensure company financial information is available in real-time basis. It has functionalities such as accounts receivable, accounts payable, outstanding invoices, payment requests, purchase invoice, bank reconciliation, bank guarantees, tax payable, budget variance. Journal entries are passed by system and accountants can input entries on ad-hoc basis as needed. All information is easily available through reports such as Trial Balance, Balance Sheet, Cash Flow, Profit & Loss Statement, Profitability Analysis, Customer Credit Balance and more. Additional reports can be created and template saved for future need.
Selling
Whether your company is selling physical product or services, the Selling module is vital need of every ERP. With ERP a business is able to know their best and worst selling product, locations based sales, best customers, best and worst sales team, leads to conversion ratio and run multiple campaigns. Pricing rules can be created on various parameters. SMS and email can be integrated to send quotations, sales order or just informative communication.
Buying
Every company makes purchases either for internal consumption or to resell. At times company loses money due to over purchase, buying at higher cost, unauthorized purchase and more. With ERP, approval workflow can be made for every type of purchase saving the company finite disposable cash. Suppliers can be requested for quotation and purchase order given to the best priced supplier. Suppliers can be assessed on various parameters leading to working with best suppliers and weeding out undesirable ones. Auto notification can be set when item is reaching low level along with lead time to procure. This assist in ensuring fresh order is placed when needed and business does not suffer due to unavailability of the item.
Human Resources
ERP HR module keeps track of employee’s data right down to validity of CPR, residence permit, leaves, end of service benefit and attendance. Monthly payroll are easily created and auto accrual entries passed by the system. Employees can make expense claims as well as other types of approval requests such as leaves and advance salary. Internal loans to employees can be created within the system with monthly deduction set for total tenor of the loan. System ensures deduction occurs every month and principal balance deducted giving employees and the company information of balance loan amount. Mandatory and optional training can be assigned by supervisor as and when needed. ERP gives flexibility of conducting timely staff appraisal by assigning weightage to the key parameters.
Customer Relationship Management (CRM)
ERP helps you track business Opportunities from Leads and Customers, send Quotations and make confirmed Sales Orders. It divides information based on leads, opportunity and customer. Each quotation can be tracked and sales person questioned on reason of non-conversion. Responses are submitted in the system for management knowledge. Multiple reports such as Prospects Engaged But Not Converted, Prospects Engaged But Not Converted, Minutes to First Response for Opportunity, Inactive Customers, Campaign Efficiency and Lead Owner Efficiency can drive management in making key changes and build new strategies to enhance growth.
Point Of Sales
In addition to standard sales module, ERP has a clean interface for making sales easy at the company’s retail outlets. Sales person can punch sales orders; collect payments to complete the formality quickly. ERP works efficiently on any type of touch point of sales hardware, laptops or conventional desktops. The system would account the sales and decrease stock at the location instantaneously. Further, in instance of breakage of internet connection the point of sales machine would remain in operation ensuring business in not affected. Database sync would occur when the internet connections is established. With ERP business do not need to purchase separate point of sales, accounting or inventory software as it connects all aspects of retail business.
Stock
Any type of stock is a company’s current asset thereby making it prudent to keep tab on it locations and cost. Multiple physical and logical warehouse can be created with its stock levels. Any incoming or outgoing of stock can be tracked by serial number, batch number, warranty expiry or service expiry. Warehouse administrators can be delivery schedule by defining transportation vehicles as logical warehouses. Quality inspection can be conducted and reports submitted into the system. Information can be extracted though standard multiple reports available in the system.
Projects
ERP project module can be used for external client project as well as internal ones. Each project has multiple tasks assigned to employees. The project and tasks have expected start and end date. Tasks can have dependencies on other tasks and cost of activity of each task is tracked through time sheets or purchases. Budget can be assigned to the project to keep tab on expenses. Senior management can be brought up to speed with Gantt view. Clients can be billed for hours worked if the activity is chargeable. Clients can also be given access to their project to know level of completion and ascertain time of completion.
Assets
It is important for companies to track every asset. After all, the company has purchased it with its working capital. ERPNext can track asset value, depreciate it based on company financial requirements, devalue the item price and inform when the item has reached disposable value. It also can track maintenance schedule as per the item specification. Further, notes can be added describing what type of maintenance was carried. The system would then schedule next maintenance based on item frequency.