It must be said, in technology, it is easy to know the theory without really knowing what lies behind the practical side. Because even if many know the definition of an ERP ( Enterprise Resource Planning ), ERP project management system KSA a vast majority cannot say how the software package operates on a daily basis.
Yes, the functionalities of an ERP are also impressive. So to allow you to familiarize yourself with the practical side of an enterprise resource planning (ERP) software package. We have prepared a small overview of its modules and functionalities.
But first, a definition of ERP software
An ERP is defined as enterprise resource planning software. That is to say, it is a unique solution that integrates a multitude of applications, functionalities and modules. Normally, in an ERP you will find a module for:
Financial management
Supply management
Manufacturing production
Project management
And you can find other components like a CRM module for sales and marketing, business analysis, human resources or even customer management.
While CRM focuses more on customer relationship management and all that surrounds it, you can expect a greater range of functionality in an ERP. Why? Because to offer you a more complete and efficient solution.
Features of an ERP solution
Functions of an ERP software: Financial management
And when it comes to understanding and helping a business across all of its departments. Finance is probably the most central sector. It’s where accounts receivable meets supplier invoices, and ultimately. It’s also where a lot of decisions are made.
Analysis Chart: Powerful financial reporting tool that can help accountants and financial analysts extract. The most essential business data from account charts, budgets, current accounts and cost types
Accounting: This module includes all the basic functions needed to set up a company and enter information into the general ledger. Chart of accounts, general journals, VAT lines, recurring journals and source codes.
Allocation: Allocate general ledger entries to a combination of accounts, departments, and projects. That use allocation keys based on amount, percentage, or quantity.
Basic XBRL: Export documents from Microsoft Dynamics NAV in an XBRL format. And import XBRL taxonomies into Microsoft Dynamics NAV from the Internet, email or other systems.
Functions of an ERP software: Money management
Without a doubt, the best ERPs will offer you functionalities designed specifically to help you with. Money management: bank accounts, electronic payments and direct transfers, check writing.
Basic dimensions: Add additional dimensions to the general ledger and any other ledger in an ERP for greater flexibility when working with analysis tools.
Advanced Dimensions : Advanced dimensions provide unlimited dimensions for use in transactions across all ledgers.
Multiple Currencies: Manage multiple currencies across the system, including accounts payable and receivable, general ledger reports, resource and inventory items, and bank accounts.
Bank Account Management : Create, operate and manage multiple bank accounts to serve your various business needs, across different currencies.
Electronic payments and direct transfers : Create payment submissions based on supplier documents and generate bank payment files in an ISO20022/SEPA format or use the Bank Data Conversion Service for other file types.
Functions of an ERP software: Supply management (SMC)
Whether for service, retail or production companies, supply management is an essential module to improve the performance and efficiency of our businesses.
Sales and Accounts Receivable
Basic receivables: Set up and maintain a specific table for the customer. Post Sales Transactions to Journals and Manage Accounts Receivable.
Calendars: Configure calendars with working and non-working days. Assign a baseline schedule to customers, vendors, sites, companies, delivery services, and facilities management, and make changes as needed for each.
Campaign Pricing: Work with sale prices and sales line discounts connected with specific campaigns.
Functions of an ERP software: Inventory management
Demand Management: Automate the supply planning process using the Demand Spreadsheet. Manage optimal suggestions for replenishing merchandise through purchases and transfers based on current and future demand for an item and its availability.
Analysis Reports: Provide a company’s decision makers, especially those with responsibilities for sales, purchasing and product portfolio management, an efficient and flexible way to get relevant information. Alternative suppliers: Manage the purchase of the same item from different suppliers. Set up multiple vendors for an item, specify typical timeframes for a vendor to ship the item, and associate price and discount deals.
Functions of an ERP software: Warehouse management
Finally, a supply management system will never be complete without a warehouse management module that allows you to manage your orders both by items and by their cases.
Warehouse Receipt: Allow warehouse workers to create a put-away from a receipt.
Warehouse Shipment : Allow warehouse workers to create a pick from a shipment.
Advanced Warehouse Management Systems : Manage items at an area level.
Receive and store items in areas; picking up items from an area according to the put away template; and pick items based on the rank of the sector or area. Move items between areas using a report to optimize space utilization and picking procedure or move items manually.
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