7 Reasons your Business needs GST ready ERP Software

GST reduces the extra tax charges and the complexity of the current taxation structure.It is the need of the hour that your ERP system must be GST ready. It is high time you get a GST ready ERP software for your business because by 1st July GST is going to be implemented in India.
Complexities to understand how this GST storm will affect your business is intense now-a-days.
eresource is here at your service.So what are you waiting for?
Join hands with eresource and implement GST ready ERP software now so that you can weather the storm.

1) Get Digitalized!

Businesses often opt to track inventory, sales, purchase, bank and production entries on a regular basis to avoid any kind of data inconsistency. Manufacturing ERP software helps to automate and integrate these critical processes ensuring to track all the entries thus, reducing de-duplication.
The recent shift from paper money to digital currency calls for transparency that is in line with the GST tax reform. ERP systems with their online transaction and bank reconciliation processing will simplify the digitization process.

2) What about your document management?

Since all your documents, payment receipts, reports are going to be digitalized , to comply with GST, e-filling will become a pre-condition for all businesses.
Going digitalized has its own plus points and ERP systems help you ease in this new trend. Henceforth it becomes easy for you to maintain all your important documents efficiently and also access them anywhere,anytime you want.
Only GST ready ERP software which can interact well with GSTN(GST network) can help you achieve seamless automation and ease in your business transactions.

3) Your ERP is Compliance ready!

Now the firms have to ponder how to equip businesses to handle tax compliances.This is where GST ready ERP system comes handy.
After GST implementation, in order to maintain accurate financial records it is necessary to be compliance ready.
Changing scenarios in the economic world creates ripples in all the business processes.
If your ERP is not GST ready yet then it will be difficult to manage compliances for multi-state and destination based tax regulations.

4) Systematic System

Firms will have to redefine key processes including those related to finance, taxation, logistics and warehousing such that the workflow is properly executed.
GST ready ERP system will ensure smooth movement of goods and services across country while curbing tax expenses.
GST estimates that many check posts will be reduced and will provide more transparency to the clients.
Every detail of what you are paying for will be mentioned. Since GST subsumed many indirect taxes, reporting/printing will be optimized.

5) One-Upmanship

Some firms may not have GST ready ERP or some may not even have ERP systems.So once you upgrade/buy GST ready ERP, you definitely have a more advanced system than your competitors.
It makes it easy to manage your business processes efficiently with new bill passed by the Government.
It is not only better for your business but also your clients will get a more user-friendly interface. Its a win-win situation altogether.

6) It is completely Cost-effective

Since GST reduces indirect taxes, it ensures a cost-effective functioning.
Save more money with the help of GST ready ERP.
eresource ensures no holes in your pocket, hence this is the best reason for you to buy our GST ready ERP.

7) Success, Success !

Let’s face it! Every business wants to be successful and earn loads of money. So if we say you get happy customers too then this is just icing on the cake.
With ERP systems you get a user-friendly interface so you know from exactly where the product is in the development stage till the product is deployed.When you can easily trace the product it becomes easier for you to work efficiently and reduce the errors that may come along . So by the time your customers receive the product, you know that it is of a fine quality.
With GST, ERP systems have evolved and included new engines to comply with the GST laws. So once you have eresource GST ready ERP ,you are bound to success after all.

New Trends Emerging in Enterprise Resource Planning (ERP)

ERP software has its foundations in the manufacturing industry since the nineties wherein the ERP application were utilized for manufacturing resource planning (MRP). Still, ERP has developed itself to cover all the crucial activities of a business, no matter which industry sector it has been implemented. Now, both public and private sector use ERP for their core business operations in some or the other form. ERP applications tend to be compatible in nature, sharing significant business information which is controlled by a centrally located database.

ERP software still stay fundamental in the present business setup which allows quick and effective decision making. Numerous organizations are taking up ERP software solutions for accomplishing operational excellence without realizing that it is in a state of constant change, which implies that the fate of ERP is probably going to be influenced by upcoming technology and social patterns. However, ERP users can avail benefits if they adopt new ways to innovation.

What trends can be looked in an ERP System?

Enterprise Resource Planning (ERP) has lot to benefit from accepting an open way to new technological changes and innovations. Here are some trends that can shape the future of ERP, if it is implemented correctly:

1.Big Data :

Organizations have turned out to be more subjective to IT and, therefore, they have aggregated lots of information that has been normally underutilized. By using analytical devices, organization can start to utilize this information to make accurate forecasts that will help in proposing business strategy.

2.Cloud ERP :

Cloud ERP will proceed to rise and will be largely acknowledged with most ERP systems. Decreased expenses in capital uses and IT resources, enhanced flexibility and maintenance, and in addition improved security and failure improvement will make the cloud attractable to all organizations.

3.Acceptance of ERP software by small and mid-sized business :

With expanded ease of use and cloud arrangement choices, small and mid-sized businesses will look for the additional value of an ERP system. Decreased cost to adopt and implement ERP will make it a suitable asset for organizations of all sizes.

4.Mobile ERP Accessibility :

The organizations employees, executives always need real-time access to various information at any given place and time, either its workplace or on site. Therefore, it is believed that organizations will start accepting the Mobile ERP to deal with ERP reports, dashboard in real time to perform quicker decisions.

5.Social Media Trend :

Number of ERP merchants have seen the value of web-based social networking and have integrated it into their systems. They even have made their user interface like the well known social media channels where the client and the vendor can have live interaction about ERP. Sales, Customer Service and Marketing can interface with clients and customers allowing for purposeful marketing activities and increased brand loyalty.

Characteristics of effective ERP Implementation

Its a well known fact that some ERP software implementation methods are more effective than others. Here are a few attributes for effective usage.

  • Implement the ERP in its normal form
    Don’t try to customize your ERP system at the very beginning. Try to maintain the standard software and organize your strategy likewise.
  • Make improvements which will bring vast advantages quickly
    If you are sure that improvements in ERP system will bring benefits quickly, then only go for for the customization. Otherwise, stay with the standard software.
  • Data Migration must be kept at minimum
    Keep in mind that migrating data is one of the most time-consuming task. Keep the data migration at minimum, transfer the important data which is absolutely needed and transfer the remaining data later on.
  • Assign a single person for an ERP project
    As many of the employees working on the project will be giving their time for implementation as well as routine work, have only a single person who is fully committed to the project.
  • Make use of super user to train the end user
    Instead of hiring people from outside to train the user, use your company people itself. It will not only save time of training, but also help saving the cost that would be spent on the outside trainer.
  • Don’t over-exceed your budget limit
    Cost control is fundamental on an ERP execution. Watch out for your financial plan and don’t exceed the budget if you can’t spend on the implementation.
  • ERP testing is a must
    ERP testing essential part of implementation. Ensure your testing program is thoroughly considered and firmly scheduled. Using less time on planned testing basically moves the trial period into the go-live period.
  • Schedule the Go-live date as per the project
    ERP implementation is a time consuming process. You must have a timetable and stick to it firmly, yet don’t trade off the task by trying to meet the external forced due dates.
  • Communicate, Communicate and Communicate
    Ensure that everyone in the organization has every minute detail about the ERP system and its implementation. Every detailed information must flow from upwards as well as downwards. Keeping everybody tuned in is critical for building confidence and motivating them for betterment of the business.

Why you should not customize your ERP Implementations frequently?

Customization brings with it vast costs that make it a smart thought not to compose custom code just in case that you can help it. Maximum ERP implementations require some custom programming at some point of time. The reasons why custom codes must be avoided are as follows :

  • Uncertainty and increased Implementation Cost

Composing and testing code is costly. Indeed “little” changes can deliver errors that go through the whole ERP establishment, creating a wide range of reactions and absolute bugs that must be found and settled. Pursuing these things down is tiring and also expensive. Besides it’s difficult to make sure you’ve found and settled every one of the issues. The outcome is that the customization occupations quite often take additional time and costs a larger number of assets.

  • Maintenance and Upgradation

It is time-consuming and often expensive to get a new custom code installed. It takes lot of resources to get the new code work with the existing code base. Ultimately, ERP system continuously gets older and older. It also create a complication for further upgradation.

  • Majority of ERP system exhibits “ethical policies”

Rather than writing a custom code as per industry standards you must genuinely consider changing your procedures to adjust to the way the ERP system wants to gets things done. The only way ERP gains business advantages is by modifying the processes.
With present day ERP implementations, there is considerably less requirement for customization. By configuring the ERP system properly will help in lessen the customization work

How to make ERP software implementation successful?

ERP software implementation is an important part after the ERP installation. There are various things you can do to make the implementation of an ERP system successful.

Following are the important ways that will help you to implement ERP successfully :

  • Training is the main part under ERP software implementation. Prepare a real training schedule and ensure that the users get sufficient amount of training to get familiar with the system.
  • Ensure that while migrating or transferring the data, you give sufficient time and ample resources to handle the data migration.
  • Also ensure all possible sources of data that you have to migrate to is properly identified. This will help in smooth flow of business activities. The old or stale information should be brushed out and not relocated.
  • Short down your competitors to a few top competitors. This has to be done after thorough evaluation of different ERP vendors. Also, the ERP vendor should be ready to share about the training, time spent on project, resource allotment, etc. And enable you to judge how sensible they are.
  • Keep some probability of increased budget while implementing ERP. Have a flexible budget as the cost of implementing the system may vary.
  • Don’t forget to involve the end user in the process. They will gain sharp observation as well as they will have a important part in the implementation phase.
  • Last but not the least, do not purchase more ERP than you require on the assumption that you’ll develop into it and don’t aim to manage with a bundle that doesn’t address your issues. While it’s vital to have headroom to develop in your ERP system, it’s similarly important not to overbuy. Instead, search for an item more suitable to your business needs.

Importance of ERP Training

Make ERP Training topmost priority

ERP software is a suite of coordinated business software that an organization utilizes for gathering, storing and analyzing information from various business exercises. Numerous ERP vendors offer ERP arrangements that business can implement as per their size and business necessities. To understand this integrated system, organization must execute training programs for their employees and it must be the top most priority while implementing ERP system. Those companies hold up until the last moment to think about preparing new users, or they put the assignment of training on the IT office can have terrible outcomes.

ERP training has to be one of the best needs when arranging an ERP implementation. Prior to the implementation starts, training has to be projected and some preparation of training must be started. As the implementation grows, so should the training, and it should proceed even after the ERP implementation is finished.

How does ERP training helps in successful business?

  • Training the internal users helps to minimize the costs that would have been spent on the outsourcing department. Training the users will also help to take more benefits of ERP system. Where most of the untrained users consume time while working or seeking help from their peers, trained users will become more effective and efficient towards their work and to invest energy in creating value.
  • Most of the organization thinks that there is no need or little need of ERP training for the user as the user can become familiar with the software once he/she starts using it. This thinking wind up with an ERP system that is not used completely, and in few case the system completely fails. From here, it can be concluded that better ERP training is the crucial part of ERP implementation to achieve success.
  • Training the user guarantees that all of them are using the similar kind of information and it decreases manual errors in the processes. The outcome is better-quality information and procedures with less probability of wrong or copied information, which ultimately enhances quality.
  • The users who are untrained will surely refuse the ERP system which will gradually lead to employee attrition, and sometimes, unemployment. Trained users, on the other hand, will find themselves skillful and valuable asset to the organization. Also there are less chances of employee leaving the organization.
  • The users who are not trained well tend to stick on the fundamental parts of the ERP system and stay on the manual procedures which they feel are appropriate. Whereas, the trained users achieve the required expertise in one fourth of the time than the users who are less trained. Training makes the user more productive and efficient to gain the benefits the system has to offer.

Managing your Stock with ERP software

Many organizations pile up the stock beforehand at their warehouses to avoid the shortage during any business process. Some of the small sized organization has these hidden inventory which is sometimes left untouched and ultimately adds up to the expense. This hidden stock makes it hard to firmly deal with the business. ERP system doesn’t ensure your stock is precise, however it makes it probable to set up forms that will give you an exact stock tally. Without ERP software, it is almost difficult to remain over stock.

The initial phase for revealing the unclear or obscure stock is to ensure that there is a smooth flow of supply chain network. If the stock is entering at right time and kept where they should be, there is no requirement for private reserves of materials.

As you take care of on stock, don’t be astonished in the event that you discover errors and issues in your store network. The act of keeping private stores regularly conceals wasteful aspects in your business forms.

One of ERP’s role is to influence the smooth of supply chain, from getting to invoicing. It gives you chance to observe into the organization at all levels and gives you a chance to see exactly what you have and where.

A decent ERP software assembles trust. At the point when labourers know they can depend on the organization’s procedures to give them the materials they require, it ends up less demanding to wean them off-the-books stock. Obviously, it likewise influences the work to stream more easily.

Right time to get an ERP software for your Company

Right time to get Best ERP software solution for your Company

The business becomes more disorganized when it starts to develop and the communication gap starts to become more complex. The business needs to be managed efficiently to decrease the business complications.

The best indicator for when you require an ERP software is to find out the flow of your business. When you realize that organization begins failing or you find you’re investing more energy in the printed material than you are in really into your business, you have to search an ERP system.

At the point when your organization starts falling out of customers, you’re prepared for an ERP software.

Another sign that you’re sufficient to implement ERP Software is the point at which you find you’re making various spreadsheets to enable you to monitor things. This may work genuinely well for a little organization, but it rapidly progresses as the business increases and more individuals need to comprehend what is going on.

Some organizations have rigid thinking about ERP such as ERP is expensive,or its implementation is time consuming, etc. Actual ERP can be straightforward, quick and economical for a little organization. ERP software solution is so flexible and standard. You can just introduce the modules you require, decreasing cost and complexity.

Obviously to get the full advantages of ERP you will need to do some examination on what’s accessible. This begins with scrutinizing number of ERP system from ERP vendors and choose the best one. You will have to consume little of your energy to adapt the system and arrive at best decision. Cost shouldn’t be the main thought in picking a small ERP framework.

A cloud-based SaaS (Software as a Service) system lessens the principal cost and gives innate support and maintenance.

Take as much time as is needed in picking a little ERP framework to ensure you get one that can maintain your business and will be anything but not difficult to utilize.

ERP for an Efficient Enterprise

ERP for an Efficient Enterprise:

Enterprise Resource Planning (ERP) Software for making your business more profitable.

Every organization thinks that working ideally is a crucial part of any business to achieve their goals. It also focuses on effectiveness and efficiency in a business as it is an important factor. ERP arrangements have been empowering organizations to perform better and achieve their objectives for a long time.

Better Performance

The factors that affect the way business is conducted are proper planning, a dedicated leader, employees who are willing to work and a extensive IT framework, i.e ERP. If the above factors are considered and fulfilled properly, you can efficiently track the improvement of various departments and people who work in those divisions. The system will recognize any key regions that workers need to enhance in, empowering you to offer proper training to employees, along with expanding proficiency in all business regions.

Control on Accounting

ERP software can offer a broad perspective of how a organization is getting along from expenditure, revenue and profit point of view. This, combined with business analytic, can be amazingly valuable, as it gives administration more understanding into the organization’s accounts, empowering them to enhance monetary control.

Cost-Effectiveness

Organizations in all cases are searching for approaches to spare cash while as yet keeping similar principles. ERP solution help decrease the working expenses by following and ordering stock, decreasing managerial mistakes, encouraging the employees by bridging the communication gaps amongst departments and streamlining business information, which allows simple access to ongoing business. As this system will deal with numerous business forms, there will be no need of costly system to be set.

Adhering to business requirements

ERP system follow every essential parts of business activities, so that you and your workforce can get on with doing what you exceed at for running your business. ERP becoming more relevant in the business field as management attempt to remain in front of their rivals. This multifaceted ERP software can help firms to perform better and keep up or enhance their notoriety on both a domestically and globally.

How to Implement a Strong ERP Program

Time is a most critical components in executing a fruitful ERP framework. Regardless of the amount you spend for planning to implement ERP, there never seems enough of it.

In making arrangements for an ERP establishment, how much time you distribute and how you split it up are basic factors in getting a fruitful execution. An excessively idealistic schedule can fate a venture before it begins.

Sadly, a reasonable timetable for an ERP task can be exceptionally hard to build. A few sections of the task, eminently necessities arrangement, process planning and testing, can be absolutely hard to evaluate. Since these are real parts of the enterprise project, getting any of them wrong can toss your whole timetable.

One thing that aides in arranging and booking an ERP venture is involvement. The more tasks you involved into, the more experience is gained.

This is one place where an accomplished advisor can pay huge profits. You most likely don’t have much experience actualizing ERP ventures, yet your specialist ought to have enough of it. Work intimately with your expert when you are booking and setting courses of events for your ERP try.

The prerequisites period of the venture as a rule happens before the genuine booking happens. Here the accentuation is on fulfillment as opposed to the time it takes. It is imperative to take care of business instead of to meet some manufactured schedule.

Process investigation and improvement, then again, should be booked precisely. The main thing you can make certain of in this piece of the usage is that it will take longer than it shows up at first glance. Plan this exertion deliberately and ensure you give enough time for it. Keep in mind the procedure investigation is in some part iterative and you may need to adjust a procedure a few times to take care of business.

Be particularly careful about attempting to get back on plan by compromising in the test stage. It just gets you inconvenience over the long haul and will foul up your take off endeavors.

Obviously you can set up any timetable you like for actualizing your ERP venture, however that doesn’t mean every single conceivable calendar are functional. It’s critical that you begin with a practical timetable while actualizing an ERP venture..