It is very important for the small business to adopt the business software for the optimization and increase their productivity. ERP application or system is a nothing but a software application that helps you to manage your all the business process through single software. There are two ways you could implement the application – on-premise and the second is cloud-based ERP application.
Of late, cloud based ERP for small business is considered as cheaper and alternative to on-premise ERP solutions. Your data and privacy secured on the cloud and another best aspect is that you can access the application from anywhere in the world.
The best thing about the ERP application is that it comes with modules, you don’t need to implement all the modules rather you could choose few modules like HR, Accounting, Manufacturing, Sales, etc. By choosing few modules you can have your own application within the budget. And, it will fit into your business model and if required you can modify or customize it as per your requirement.
Advantages of Cloud based ERP solutions:
Let's have a look at some of the major modules:
1) Sales Module:
You can manage and optimize your sales department by using the sales module in the ERP systems. The sale module for small business is vital since most of the units might have an unorganized process for sales. The application will be useful in managing and covered quotes into sale orders. You can integrate the sales module with the CRM for effective management of leads and sales pipelines.
Invoice on ordered or delivered quantities, based on time and materials. Manage payment terms by the customer or by invoice. Easily track and follow up on invoice aging. By moving to the cloud, your sale team can update their activities from the field by accessing the application or using integrated mobile application. You will get the instant updates from the application.
You can do following tasks with the Sales Module:
2) HR Module:
Human resource management is the important task for all the organizations. In the case of the small businesses, they need to be very organized in HR and employee management.
Employee management becomes much easier with this application. The module has many features to help you manage all your HR operations effectively from employee muster roll registration to processing pay slips. You can manage employee activities like Fix standard reporting time, Schedule working hours, Create a list of employees, Manage attendance, Create Payroll and leaves.
You can manage the payroll process effectively; it will have the features like Salary rule, salary structure, contribution registers, employee and contract, salary processing as per the number of leaves taken and generating reports.
You can do following tasks:
3) Manufacturing Module:
Manufacturing companies must need an application to optimize their process. The module in the ERP software will help you organize, forecast and achieve operational excellence. Get a seamless and effective manufacturing process by automatically scheduling orders based on procurement rules, quantity forecasts & dependent demand.
Quickly identify resource requirements and bottlenecks to ensure production meets delivery schedule dates. Manually edit all operations at any stage in the process. You can design specific templates for each operation and use the set of tools to find solutions for any issue.
You can do these things with the application –
4) Inventory Module:
You might miss some because of not having the right information regarding the inventory. An application can give you the right information and help business decisions. You can manage inventory located in various offices by using this application. This application will be effective for managing inventory and know the status of the products. By looking at the inventory management section, you will get a complete idea about the products and your requirements.
This will allow you to add a number of offices of your choice and manage the products in each and every office. You can track the status and trace the stock. Know the value of the inventory, adjustment, stock move, check products by categories and add products.
5) Accounting Module:
The ERP suite will help you to keep a control over your global finances. The module is used for maintaining all the accounting records using the double-entry bookkeeping standards of the accounting. The module is designed for the needs of the industries, companies, and enterprises considering the standard accounting charters. You can synchronize all your transactions without much hassles and reconciliation process is also easy to handle.
The accounting module is easy to understand and fit into your business process from the day one. Creating an invoice, maintaining records and ledgers, customer invoice, as well as supplier invoice generation, are easy and the module is connected with other important department activities like sales, inventory, and subscriptions.
You can manage core activities like sales – customer invoice, sales receipts, payments, customers, and products. And, in the Purchases – manage vendor bills, purchase receipts and payments. The accounting application will help you to find the status of the customers and vendor payment details. And, you can generate all kinds of reports like Profit and Loss, Income, Expenses, Balance Sheet, and Assets.
We have elaborated the modules to give you a clear idea on how these will help you in managing your process. There are many other modules those will be useful in managing and attaining operational excellence.
How to choose right cloud-based ERP software:
You need to cross check all the aspects before finalizing a cloud-based ERP application. The following things need to be finalized before taking any decision.
You can consider all the aforementioned points for implementing the ERP application for your business. By implementing and moving to the cloud you can optimize and grow your business. Odoo ERP application will be useful for your business operations, as we have developed many applications and we have many success stories to share.