Discover 6 Must-Have Features of Automotive ERP Solution

ERP Software Solution | By Admin

ERP software comes with a plethora of features and add-ons that vary by vendor. However, you don’t want to put the cart by investigating add-ons before securing the main ERP components that you require in your software. You can usually choose which features you want to have in your ERP software Kolkata . We’ve compiled a list of six of the most frequently requested features to assist you in developing an idea of some of the functions you might be interested in having for your business needs.

What exactly is ERP Software?

ERP is a group of combined software applications that regulates, modernizes, and assimilates business procedures across finance, human resources, distribution, and other sections. ERP systems usually run on aunified software platform with shared data and a single database.

ERPs were mainlyintended for industrial companies, but they have since been extended to contain service industries, higher education, hospitality, health care, financial services, and administration. Each industry has its own ERP unique features.

Common Components

1. Human Resources:

Modern solutions enable the management of company data as well as the streamlining of employee management tasks such as payroll, hiring, and other responsibilities.You’ll be in a better position to assist in the recruitment and empowerment of employees, as well as track employee performance and identify HR issues before they occur.

2. Customer Relationship Management: 

It makes no difference whether a company needs to track contract status or manage invoices; the integration of customer relationship management in ERP for manufacturing software is a must. This module allows information to be accessed by various departments and teams. As a result, businesses can address their customers’ preferences and needs and develop strategies accordingly.

3. Business Intelligence:

BI provides users with the tools they need to make the most of the data that your ERP already processes. BI functionality collects and analyses data from across the platform to help you run your business more efficiently.

Tables or simple data spreadsheets may be provided by non-BI Programmes. There are, however, more advanced options that provide custom dashboards, graphs, and other data visualizations. Reports enable business leaders to make more strategic decisions based on data and facts.

4. Supply Chain Management:  

Production is a critical area for any automotive manufacturing company to cover to keep up with rising demand. Effective open source ERP software Kolkata must provide real-time data on the shipping, manufacturing, and value chain departments. In addition, the data must be archived for auditing and future reference.

Having said that, integrating the ERP system will enable businesses to monitor the supply chain while providing optimal quality management. As a result, businesses can monitor supply, demand, distribution, and logistics (real-time information and updates). It enables businesses to progress from an average to a successful level.

5. Inventory Management: 

All of the modules and features are designed to keep your critical warehouse functions centralized. More importantly, the data is synchronized with all other inventory system modules. This aids in the accurate operation of inventory, which boosts productivity by fostering a sense of collaboration among team members working from various locations on their systems.

The Inventory Management module enables you to have multiple subcategories and features to generate real-time reports for all required inventories.The automated shortage reports assist in quickly and effectively controlling any issues; alerts and reports allow you to efficiently deal with any unfortunate inventory mishaps. Inventory management enables you to successfully establish your eCommerce presence in a variety of locations.

6. Financial Management: 

The incorporation of financial modules in automotive ERP for manufacturing software aids in the collection of financial information and data from various departments. Furthermore, it aids in the preparation of financial reports such as balance sheets and financial statements. Financial filings are constantly on the line, and businesses cannot afford to miss this information or omit accounting information.

The ERP system, which includes a well-integrated financial module, enables businesses to supplement their financial aspects/needs. Furthermore, it simplifies tax requirements as well as financial reports; they are frequently integrated into a single system that can handle payments, accounting, and banking needs. Furthermore, selecting ERP software Kolkata with real-time updates will improve profitability and cash flow.

Secondary Components

Aside from the 6 chief ERP components, a variety of excellent features and add-ons are available to address more detailed business requirements. Here are some additional ERP features to consider including in your solution.

• Risk Management –This tool can help you predict and reduce risk in your business. It may also recommend Business Continuity Plans (BCP) in the event of an emergency or an unplanned situation.
• Marketing Resource Management (MRM) –Marketing Resource Managementeasesprocesses such as the alignment of individuals, procedures, and expertise to support and recover marketing efforts.
• Sales-Order Management –Sales order management can help your company manage sales orders throughout their entire lifecycle, from order generation to billing/invoicing.
• Advanced Planning System (APS) –This tool uses data to track the production costs of manufactured goods. It may also optimize raw material and capacity allocation to balance consumer demand with available warehouse space.
• Event Management –This solution enables the end-user to manage events and hospitality Programmes from beginning to end.

Final Takeaway,

Before you begin the implementation process, you should research the core ERP components and functions provided by different ERP vendors.Conducting research is a time-consuming and sometimes difficult process, but by reading articles and speaking with various vendors, you can ensure that the ERP software you implement will effectively withstand company growth.

Let us know in the comments what your favourite ERP components are!