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Benefits of ERP

Organizations from a variety of industries use Enterprise Resource Planning (ERP) software. There are types of businesses that see more benefits of ERP. Some key trends suggest when it’s time for a business to implement or upgrade their ERP system, which includes: Times of growth: The organization is growing, has grown, or is planning to grow significantly Issues with operations: The organization needs enterprise software to better manage processes Mergers or acquisitions: For example, the parent organization needs to streamline systems across companies Old legacy systems: The organization’s current system is outdated and not available for upgrades, or no longer serve the business and users adequately Strategic roadmap: Organizations with forward-thinking executives have outlined a business technology roadmap that includes a new enterprise solution While many factors indicate the need for implementing an ERP system, companies in certain industries stand to gain the most from making the move. Specifically, key business benefits of ERP software are: Enhanced Business Reporting: -Better reporting tools with real-time information -A single source of truth – one integrated database for all business processes Better customer service: -Better access to customer information -Faster response times -Improved on-time delivery -Improved order accuracy Improved Inventory Costs: -Only carry as much inventory as needed, avoid these common issues -Too much inventory, and higher overhead costs -Too little inventory, and longer customer fulfillment times Boosted Cash Flow: -Better invoicing and better collections tools to bring cash in faster -Faster cash means more cash-on-hand for the business Cost Savings: -Improved inventory planning -Better procurement management -Better customer service -Improved vendor relationship management Better Data & Cloud Security: -Dedicated security resources -Avoid installing malicious software -Data distributed across multiple servers Business Process Improvements: -Automate manual or routine tasks -Implement smarter workflows -Gain efficiency Supply Chain Management: -Effective demand forecasting and lean inventory -Reduce production bottlenecks Transparency through the business Pros of Odoo ERP – Costs of an Odoo ERP Software is very less: -Third-party software add-ins are not as costly as other ERPs -Implementation costs is very less compared to other ERPs -Maintenance cost is also less compared to other ERPs -Initial training is enough as Odoo has an easy & intuitive user interface Data Conversion is comparatively easy in Odoo: -Developing a solid data conversion strategy is easy with Odoo -During Odoo implementation data sources are defined, examined, and analyzed in advance -Easy and accurate data conversion helps in timely delivery on projects and reduced the cost of implementation Initial training is enough for Odoo ERP: -Odoo Training covers all of the ERP system’s features. -Odoo ERP training sessions are in line with business processes -IT users are trained for the technical aspects of the Odoo ERP System How does ERP software improve business processes? -ERP systems solve many problems you may be facing, including a need for: -One source of truth as one master system of record for all important company data -Automating manual processes, such as invoice creation, routine communications, financial report generation, product and service delivery, and material requirements planning -Better visibility into all aspects of the supply chain increased efficiencies and improved productivity -Improved business data security, whether stored on-premise or in the cloud. ERP software selection: next steps -ERP selection and implementation processes are not for the faint of heart. Choosing the right Enterprise Resource Planning system can be complicated, and often there is a lot at stake. You want to make the best possible choice for your business. But there are ways to make it easier for yourself and your team. There are many factors to consider, below are some of the top factors recommended for anyone thinking about a new ERP. -Define why you are doing the project. -Determine who will be involved. -Find an Odoo ERP partner who you trust. Contact contact@orgocloud.co.in or visit www.orgocloud.co.in