Regardless of the type of industry you’re in, managing financials, maintaining inventory management and ensuring customer satisfaction must be equally prioritised. However, the rapid changes in customers’ behavior and market demand are making things a lot challenging for entrepreneurs. The best thing you can do is to consider investing in an ERP software Singapore.
What is ERP Software?
Enterprise Resource Planning, most commonly known as ERP, is a type of software that allows organisations to gather, organise and manage business functions including accounting, compliance, operations, procurement, sales and risk management. With a complete ERP suite, organisations can also benefit from enterprise performance management, a software that allows business owners to manage their financial results.
What is ERP Software For?
Most SMEs and huge businesses alike are now using ERP software Singapore to streamline their work processes and prevent duplication of critical data.
What is ERP software for? Here’s a closer look at some of the functional areas where ERP software is often used for:
An ERP software ensures compliance with regular financial regulations by automating accounting related-tasks. These include sending invoices to a client with outstanding balances, budgeting, cash management and a lot more. With an automated accounting system, an ERP software Singapore can help reduce the amount of time needed to accomplish such tedious tasks.
Through an ERP software Singapore, marketing and sales team can easily track and monitor customer experience, which in turn can help them improve their marketing and sales efforts. An ERP software can automate and streamline tasks that are related to shipping, forecasting and invoicing.
Manufacturing and distribution companies can surely benefit from an ERP software Singapore. By automating manufacturing processes such as scheduling capacity and quality control, an ERP software can help identify a product’s performance, the number of resources on hand and the estimated time needed for an item to be shipped out.
With a human resources module within an ERP system, you can streamline tasks focusing on recruitment, payroll, training, employee benefits and bonus allocation. Furthermore, ERP software can also help HR managers to track and measure key performance indicators (KPIs) for various roles.
Customer Relationship Management
By incorporating Customer Relationship Management (CRM) modules, ERP software can help improve customer experience which may lead to customer retention and an increase in sales. CRM works by analysing customers browsing and purchase history and sending them targeted ads they are likely to be interested in.
Why Use ERP Software Singapore?
How do you know if your company needs an ERP software Singapore? Here’s a list of signs that shows your business is ready for ERP.
1. If your business uses a lot of software for different processes.
Your accounting staff might be using accounting software for receivables and payables, and so is the sales team for orders and shipping confirmation. While using different systems for each process may seem like a normal thing any business would do, this may lead to inconsistency and duplication of data. With different systems running separately, critical data may be at risk.
ERP software Singapore integrates all systems in one database, ensuring accurate and real-time data.
2. If you need to have easy access to critical data and information
Keeping your data on filing cabinets or in spreadsheets is still possible. But given the demands for faster and more efficient business processes, doing so may not be the best thing you should do.
Your employees must be able to access your company’s critical data whenever they need to. With an ERP software Singapore in place, key players can get a clear view of your company’s entire operations at any given time.
3. If you are noticing poor customer experience.
Inventory management is crucial for any business. Ensuring enough supply of high-demand products is vital for successful business operations. With customer data, inventory and sales existing on different systems, serious problems such as mismanagement resulting in poor customer experience are likely to occur.
With an ERP software Singapore in place, employees in various departments can have access to real-time information, allowing them to provide prompt responses to customers asking about order or shipping status and services issues.
What are the Benefits of Using ERP Software Singapore?
Here’s a list of 4 major benefits of ERP software Singapore to businesses:
1. Streamlines work processes
Back in the days, operating businesses between multiple locations was almost impossible. To get updates from the production team, entrepreneurs had to invest time and effort to make phone calls or site visits. For businesses with partners abroad, geographic and time constraints are the biggest challenge. A single problem can affect the entire business operation.
Thankfully, ERP software has transformed work processes, improving workflow visibility. With an open database, you can now have real-time updates from your supplier abroad at your local headquarters.
2. Uses business intelligence
To come up with a sensible business decision, you need to have accurate data in place. ERP software Singapore uses Business Intelligence (BI) tools to ensure proper data collection, data analytics and accurate reporting. By gaining real-time access to such data, you can have the time to make necessary improvements to your current processes.
3. Provides scheduling tools
One of the most customisable features of ERP software is its scheduling solutions. These tools allow you to coordinate all schedules into one calendar, ensuring that all teams as well as your supply chain partners are working smoothly on the same page.
4. Offers risk management and data protection
With the existence of different technological advancements comes the bigger possibility of successful cyberattacks. In today’s digital era, all businesses operating online can be at risk. Fortunately, ERP software Singapore comes with risk management and data protection. Equipped with fraud monitoring tools, ERP software Singapore keeps your company safe against fraudulent acts.
Different Types of ERP Software Implementation
There are various deployment options for ERP software Singapore. These include:
With the traditional on-premise ERP deployment, you’ll be in charge of the installation and maintenance of the software and the IT infrastructure on your server.
Public Cloud ERP
A public cloud ERP is typically owned and remotely hosted by the vendor. In most cases, the licensing model most commonly known as Software-as-a-Service (SaaS) is offered on a subscription basis.
Private Cloud ERP
A private cloud ERP uses the same tools available in a public cloud while hosting them within the company’s firewall (on-premise). In this case, an organisation owns the ER system with the benefits of a pre-packaged SaaS solution.
Bevootech: ERP Software Singapore
Manage your business operations efficiently and improve workflow visibility with Bevootech’s ERP software Singapore. Call us today at +65 8687 8143 or email us at [email protected] for more details.
80% Grant on Your Accounting Software
Eligible SMEs can apply for grant up to 80% for IRAS-compliant accounting software.