Definition of ERP:
Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services and human resources. ERP software integrates all facets of an operation, including product planning, development, manufacturing, sales and marketing.
Characteristics of ERP:
Advantages of ERP:
1. Organizational flexibility and agility.
As you have seen, ERP frameworks break down numerous previous departmental and useful storehouses of business procedures, data frameworks, and data assets. In this manner, they make associations more adaptable and versatile. The associations thusly can respond rapidly to changing business conditions and in addition underwrite in new business open doors.
2. Decision support.
ERP systems give crucial data on business execution crosswise over functional areas. This data essentially enhances managers' capability to bring about a noticeable improvement, all the more convenient choices.
3. Quality and efficiency.
ERP systems incorporate and enhance an organization's business methods, bringing about critical enhancements in the nature of client administration, generation, and conveyance.
ERP Modules:
Financial Management.
These modules support accounting, financial reporting, performance management, and corporate governance. They manage accounting data and financial processes such as general ledger, accounts payable, accounts receivable, fixed assets, cash management and forecasting, product-cost accounting, cost-centre accounting, asset accounting, tax accounting, credit management, budgeting, and asset management.
Operations Management
These modules manage the various aspects of production planning and execution such as demand forecasting, procurement, inventory management, materials purchasing, shipping, production planning, production scheduling, materials requirements planning, quality control, distribution, transportation, and plant and equipment maintenance.
Human Resource Management.
These modules support personnel administration (including workforce planning, employee recruitment, assignment tracking, personnel planning and development, and performance management and reviews), time accounting, payroll, compensation, benefits accounting, and regulatory requirements.
Customer Relationship Management.
These modules support all aspects of a customer's relationship with the organization. They help the organization increase customer loyalty and retention and thus improve its profitability. They also provide an integrated view of customer data and interactions, enabling organizations to be more responsive to customer needs.
Supply Chain Management.
These modules manage the information flows between and among stages in a supply chain to maximize supply chain efficiency and effectiveness. They help organizations plan, schedule, control, and optimize the supply chain from the acquisition of raw materials to the receipt of finished goods by customers.
Business Intelligence.
These modules collect information used throughout the organization, organize it, and apply analytic tools to assist managers with decision making.
E-Business.
Customers and suppliers demand access to ERP information including order status, inventory levels, and invoice reconciliation. Further, they want this information in a simplified format that can be accessed via the web. As a result, these modules provide two channels of access into ERP system information, one for customer (B2C), and the other for suppliers and partners (B2B).
VERIZON TELECOM AND BUSINESS
The Enterprise Solutions division of Verizon Communications is expanding its global services capabilities, and a massive SAP implementation supported by CSC is providing more consistent financial transactions.
Enterprise resource planning projects are notoriously challenging, especially on this scale. After the $8.6 billion acquisition of MCI in 2006, Verizon needed to integrate hundreds of disparate financial systems scattered across the globe. By any measure, the implementation, called nSAP, was enormous. Verizon Business has 24,000 users, 217 company codes, 140 countries, 61 currencies and 23 languages, with the business and finance units running 19 different modules of SAP.
The project’s main thrust was the implementation of SAP ERP Central Component (ECC) 6.0, along with SAP modules that enable functions like production planning and asset management. For example, nSAP can record, translate and handle every currency in the world, and local currencies are consolidated and reevaluated in U.S. dollars. With a common set of financial reporting and master data achieved, Verizon Business manages resources and people more efficiently, while improving controls and compliance.
Global Consistency
Pelham says, “nSAP provides the operational discipline of a single code block or data set across the company so that when you’re looking at something anywhere in the world in SAP, it’s the same.”
Streamlined systems are essential to running a successful operation, adds Tony Skiadas, vice president and CFO of Verizon Services Operations. For example, standardizing accounting, and payables into one system lets the company maintain tighter control of its financials. “nSAP delivers more simplicity around not having to go to multiple places to get your results. It’s helping streamline our reporting and our analysis by getting it in one place under a single architecture,” he says.
We, “MPGBIS” are engaged in offering Global Enterprise Resource Planning Implementation. Generally, three types of services are available to help implement such changes—maintenance, enhancements and migrations. Microsoft ERP Software is the best ERP software for small business, with the help of Enterprise Resource Planning Implementation you can automates core business operations such as lead-to-cash, order-to-fulfillment, and procure-to-pay processes.
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