How Business in Trading Industry benefited by ERP solution..
ERP software has gained great importance in the business over the years. Business owners have to make decision about how to manage operations in their organizations, and one of the decisions that they are thinking to make right now is whether to do an ERP implementation.
Today an ERP software is must for business to function more effectively and productively and let us see how ?
An ERP software can offer great benefits to companies in the trading and distribution sector. Having a modern, vat for distribution and inventory management can help to increase precision, visibility and productivity. In Current scenario ERP software for trading industry is a vital tool that features important functions like, Financial Accounting, HR and payroll, Warehouse Management, Customer Relations Management, Manufacturing, trading and distribution, E-commerce etc.
When it comes to Trading ERP software there are different verticals of trading like general trading, textile trading, Auto spare parts trading, fresh foods and food stuffs trading etc. Prior to the implementation of an ERP Software in Trading business, it is important to get a basic understanding of the trading business workflow. Every trading business has different characters and they work differently compared to other industry.
Let’s see how an ERP software helps trading and distribution industry:-
Smooth Inventory Control and Demand Planning
A Trading ERP software helps in managing your warehouses efficiently by providing accurate inventory data and aid with decision-making, this helps in avoiding issues of under and overstocking. ERP software for trading companies provides a powerful and flexible set of features to identify and report your inventory status at any point of time. It also aids to identify inventory requirements, to configure and utilize replenishment processes, to monitor inventory utilization, to reconcile the inventory balances, to handle inventory transfers among warehouses. These features will ultimately reduce the cost and increase productivity.
Another benefit of having an ERP for distribution business is the demand planning abilities that it can bring to the Business. ERP software users can utilize the power of predictive analytics based on past trends and get a clear picture of the stock needed to run a business effectively and efficiently.
Brainsphere’s ERP solution provides a powerful and flexible set of features to identify and report your inventory status at any point of time.
Sturdy Customer Relation Management
A Trading ERP software with the CRM module helps in building strong customer relation. A trading ERP system prioritize the follow up activities with prospective customer, it gives the option to add all the follow up communication with that customers there by helping to meet the sales targets effectively. An ERP software for trading also helps in gathering all the necessary inputs related to a customer and fixing appointments. This maintains the trading operations and customer relationship management healthy and transparent. In short, it helps every business activities to generate more possibility of sale resulting in more income generation.
Easy financial processing
A trading ERP software allows automated invoice generation when a sales order is confirmed, with reconciliation of bills and payments. Whether storing the customer information or creating a quote or migrating quotations in to sales order or being responsive to your customers, Trading ERP software provides the right solution and efficient flow of information. It also helps for emailing of quotes, invoices, orders and SMS to multiple contacts. A single software supports multiple companies or multiple accounts, Multi-currency transactions, Multi Location Operations and can handle full and partial payments. Complete with all the features a Trading ERP system is built to full fill business need spread across geographies
Accurate Reporting
A trading ERP system with efficient inventory management module offers accurate reporting by providing end-to-end visibility needed for decision-making. Moreover, it can help compile data into timely reports for both internal and external purpose. This helps the organization respond more quickly to complex data reporting requests and makes compliance with industry reporting standards easy.
Business intelligence modules of the ERP software equips the top management with the ability to make accurate and fast decisions by utilizing the reliable information gathered from current and historical data, which are, converted into the most appropriate information pointers. The BI and KPI modules of the Brainsphere’s ERP provides the birds-eye view of the current status of the processes as well as the projections and trends. It immensely helps to take strategic business decisions and respond more effectively to the changes in demand.
Human Resource Management
HR department is an important department with any organization or business. An HR and payroll software with in the trading ERP facilitate finest handing of Human resource. An HRMS system can store all the employee information’s like salary details, attendance, performance evaluation and facilitating the promotion of employees for better working initiation. With the help of best HR and Payroll system organization can improve the efficiency of HR department ad their by problems in HR and Payroll function can be solved. Brainsphere HCM solution understands the needs and challenges of any workforce, the diversity in HR practices, and it allows for adequate exceptions handling. HR module capture distinct pieces of data about the employee through pre-built functions (details, skills, education, training etc.).
Brainsphere’s Trading Industry ERP solution is made as per the best industry practices being followed in the Industry. We provide ERP Software that best suits different verticals of trading.
If you are looking for an integrated ERP software solution for your business, reach us now on +971526403909 or email us at info@brainsphereit.com for a free demo.