These days, an Enterprise Resource Planning (ERP) system has become a lifeline of sorts for the manufacturing industries. As technology continue to evolve, manufacturing industries strive to cut costs, manage the company growth, creating streamline processes and gain a competitive advantage over other competitors in the market. ERP software provides a major help to the manufacturers in this quest with its invaluable benefits. All modules get integrated like materials and inventory, production, operations, sales, accounting and much more. This helps every business function to depend on a single database and deliver accurate and real-time information that is crucial to the manufacturing industry.
As an ERP software is equally necessary for a startup manufacturing industry as well. Startup companies require as much help as they can become more successful and their revenue also grows. This is highly impossible without the help of technology, like manufacturing ERP software. The startups face multiple challenges like, investing in company growth, setting up processes, minimizing expenses, and many more. Without ERP software, the companies depend on manual work, which takes more time and also creates room for many mistakes. They also face issues like quality and traceability issues, lack of planning inventory management and many more.
Below are the reasons why ERP software is strongly recommended for manufacturing-based Industries:
Complete Business package: Most of the manufacturing startups use different software for different business modules. By this process the business gets more complicated and makes things confusing. ERP Systems on the other hand is a complete package and it has all the features that startups required to run. Like from accounts, inventory, bank transactions, sales orders, employees, payrolls, customers to taxes etc., an ERP manages it all, eliminating the need for multiple software and manual dependency which proportionally increases revenue growth.
Increases efficiency: Manufacturing startups face challenges like lack of resources on all fronts, lesser manpower at disposal, basically one guy for multiple responsibilities, like handling sales, finances, inventory and many more. But it gets difficult as the business size increases. ERP software solves these issues by integrating all the departments, tracking daily business records and making the data accessible at a single point, which reduces the workload of handling multiple work modules. This helps in saving time in maintaining records and data manually, and a person can access all the data just at a single click. This helps in better management, smooth functioning & enhanced business efficiency.
Taxation concerns: Most of the startup manufacturing industries find it difficult to deal with the taxation and GST filings. To get out of this issues these issues, companies need a better solution like ERP system, which integrates modules to help reduce the brigades of taxation as well as meet the regulatory compliance and GST requirements. A trending manufacturing ERP software enables deducting management of different taxes automatically, storing of all invoices and related documents at a single place, with a single click where all the data is available thus making the lives of startup much easier.
Manage Data & Analytics: For major startup companies, planning, predicting the demand and supply of product, decision making are nightmares of them. The major reason of this is because of the absence of ERP software, limited resources, they are just not capable to manage their data properly and as a result they are unable to execute those business functions efficiently and aren’t up to the mark. Best suited manufacturing ERP software not just allows them to keep track of daily work and transactions, but also helps in providing critical data through its central database and allows its analysis, thus helping in planning & predicting the demand and supply, and helps in good decision making.
Cost Efficient: Most of the industries get struck in time taking manual processes, which hurt them severely on the costing front. They often take back step in the process of investing in ERP software as they have low budgets. They should see an ERP software as a one time investment and as a money waste product.
Enhances customer service: Delivering high end and quality products & services as well as customer service are of most importance factors. With a manufacturing ERP, people can understand customers better and helps in improving relationships with them through accurate access to their information.
Seamless business expansion: Expansion of business is the ultimate goal of any business. This cannot be achieved by software that only runs your business function which doesn’t helps in business growth. A scalable ERP software helps give better client service helps in taking better decisions, visible watch over the expenses, reducing operational costs and increase profits and helps in achieving business expansion.