All you need to know about Enterprise Resource Planning (ERP) in Sri Lanka

All you need to know about Enterprise Resource Planning (ERP) in Sri Lanka

What is Enterprise Resource Planning (ERP)?

ERP is one of the most advanced business technologies in this era it is a computer based application that is used to handle the integral process of business such as resources, planning, management control and operational costs. Basically, instead of having different business technologies for each department, ERP is a single unified business solution package, which will join the efforts of all running departments in your company. ERP is based on a centralized database, and utilizes a common computing platform; thus ERP systems are able to consolidate all of your operations into one uniform environment.

Why should you incorporate ERP into your business?

The purpose of ERP is to enable the flow of information between various business functions within an organization, and also manage the connections with outside stakeholders. These days, all businesses are looking for that extra edge over their competitors and peers and having a useful technology that goes hand in hand with your business is one way to stay ahead. By having a technological system that incorporates a single unified business solution package, a company will have the edge over their competition.

What can ERP solutions be used for?

ERP systems cover core functions of any business and have various commercial applications ranging from manufacturing, accounting, maintenance and human resource management to name a few. ERP software solutions are designed and implemented specifically for business organisations depending on certain factors such as the size, nature, generation of reports, area of operations, inventory control, requirements of human resources management and accounting departments.

In manufacturing, ERP plays an important role in the manufacturing process, projects and flow as well as quality control, cost management, scheduling and work flow management. ERP solutions can also be applied in supply chain management, in aspects such as inventory, order entry, supply chain planning, inspection of goods and so on. ERP systems are also useful in financial matters such as those involving general ledgers, cash management, accounts payable and receivable and fixed assets. The services of ERP can also be used in project management where costing, billing, time and expense, performance units and activity management need to be monitored and assessed. ERP is useful in human resources as well as customer relationship management and data services.

What is considered an ideal ERP system?

In order to be considered as an ideal ERP system, a software system should operate in real time, without depending on periodic batch updates. It should also be a common database that is accessed by all applications and should prevent redundant data and multiple data definitions. The software system should also have a consistent look and feel for all its sections, and should be user friendly.

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