For companies that are growing at a rapid speed, it’s not a question of “If” but “When” it’s time to implement ERP software. This is because as an organization grows, the amount of data that needs to be tracked and monitored also increases quickly. Managing this wealth of information in spreadsheets and across different platforms might not cut it anymore, as this can lead to duplicates, waste time, and be costly. For these reasons, many organizations are now looking into ERP solutions in the Philippines.
What Is Enterprise Resource Planning (ERP)?
Enterprise Resource Planning (ERP) is a type of software used to integrate and manage different aspects of a business. It enables organizations to put together multiple business processes in one system, making it easier to implement resource planning. Having an ERP system is crucial for centralizing an organization’s day-to-day business operations, as it houses the majority of the data needed by the business.
The best ERP solutions in the Philippines have a central database that collects information from different departments — such as finance, sales, procurement, CRM, human resources, and more. This provides the workforce more visibility to crucial data from different aspects of their organization, which helps improves analytics and processes. Since the processes of different departments are interconnected and data is available once needed, it leads to better accuracy, productivity, efficiency, and collaboration.
Since ERP software can tie up the different technologies used by each department, it can help remove duplicate and incompatible technology, which can otherwise, be costly.
ERP Components
A number of business processes can be integrated into an ERP system. Given that it centralizes operations into a single system, an ERP system allows different departments to share information more easily with the rest of the organization. Ultimately, this will streamline day-to-day operations toward profitable growth. Below are some business aspects included in ERP solutions in the Philippines.
● Finance & Accounting: An ERP system’s foundation is usually the finance and accounting module. The system helps in automating important financial tasks and also managing all transactions and financial information. For this reason, the accounting department is often the first user of an ERP system.
● Purchasing: ERP solutions in the Philippines can help organizations run the purchasing process and ensure a steady stream of required materials. From ordering, receiving, paying for goods, and more — the ERP system can provide a real-time view of the purchasing process. It also helps manage the inventory to let the purchasing department identify a shortage before it happens.
● Manufacturing: Manufacturing is an important component of an ERP application because it helps organizations ensure that production can keep up with demand. This is beneficial for keeping manufacturing productive and on time.
● Material Requirements Planning (MRP): Related to the business process of manufacturing, ERP systems can improve MRP by helping in purchasing items, procuring resources, and production planning, all while improving management of an entire set of materials.
● Inventory Management: An ERP system lets organizations easily manage their inventory, including the option to track inventory transactions, manage price lists, look at item master data records, generate inventory-related reports, etc. It lets leaders view what items are purchased, manufactured, sold, or kept in inventory.
● Customer Relationship Management (CRM) & Sales: The right ERP solutions in the Philippines can help monitor communications with potential clients and customers. It can produce data insights that can help improve sales and revenue. In addition, ERP tools also allow organizations to have a 360-degree view of customers.
● eCommerce: ERP systems seamlessly integrate an eCommerce system to improve online experiences, manage pricing, assess the profitability of the business, and more.
● Service: A service module for an ERP system is composed of master data management, service orders, warranty and contracts, and more.
● Job Costing: ERP can be used to have a more accurate and complete job cost for every job needed in an organization. This helps improve decision-making when it comes to what jobs should be taken, the prices to charge customers, and how costs can be reduced.
● Project Management: ERP solutions in the Philippines are vital for companies that need to centrally manage all projects from start to finish. This includes monitoring the progress of tasks, analyzing budget costs, and generating reports.
● Human Resources: HR modules in the ERP system can offer several features that can help organizations manage attendance and payroll. All employee information and workforce trends can be tracked and accessed from one place.
● Analytics & Reporting: Many companies look for ERP solutions in the Philippines because of their capability to generate accurate reports that can help leaders and managers make data-driven decisions. Since an ERP system can integrate the data from different departments, this is possible.
Implement the Best ERP Solutions in the Philippines with DynamIQ!
If you’re interested in implementing an ERP solution in your organization, you can contact us here at DynamIQ! Our mission is to be the premier enterprise solutions company in the country by providing the best ERP software for companies who need them.
Aside from helping you find the best ERP solutions in the Philippines, we can also help you implement them properly in your organization. To make the most out of ERP systems, it needs to be customized, configured, and even enhanced to match your business needs. This way, you can enjoy the benefits it can bring, such as cost savings, better workflow visibility, helpful business insights, improved collaboration, efficiency, and more.
Here at DynamIQ, we can help you with consultation, implementation, training, development, and technical support. This way, you can make the most out of your ERP system for years to come.