Billing Software and ERP
Billing software and ERP software are the mostly using software in business environment. Billing software are mainly used to manage stock of every products in a company and generate invoices for customers to know about the product and services. However an ERP software can have all the features of billing software.
What is ERP Software? ERP stands for “Enterprise Resource Planning”.
This means, this is a software system that is supposed to address and take care of the entire needs of an Enterprise and it’s resource needs etc. An ERP Software consists of both Software and Hardware that is essential in addressing the entire business needs. Typically an Enterprise means, we are talking about from a medium to Large Manufacturing units or a small trading business or a large Trading business. An ERP Software typically consists of Manufacturing, Accounting, Sales and Invoices, Purchase and Bills, Planning, Human Resources, Taxes and compliance etc. There are business vertical wise specific ERPs too. But they are expensive and are not generic ones. What is ERP Software? – What’s the Business Value of an ERP Software? Many business have relations with customers and suppliers across the world like USA, China, Vietnam, Singapore etc. The business is happening between multiple business currencies, terms and conditions. As the work complexity increases, it is difficult to manage these records manually. ERP Software brings many business value of multiple stakeholders in a company. Some of them have been mentioned here.
1. Data consistency and data Accuracy. Collecting an organisation’s transaction data that’s shared across from multiple departments
2. Remove data duplication and make it simple. Every units of the business will see the same data at any point of time.
3. Follow the Business process and workflows. This makes people to follow the process else they can’t continue the work at all.
4. Business compliance with approval systems
5. Improves Tax and Statutory compliance process including Traceability
6. Lower operational cost and increased accountability. Data preparation and report generation are so fast, it save huge amount of TIME and MONEY for business.
7. Improves Employees productivity
8. Reduced Risks and increased transparency
9. No more “Knowledge Pockets” and its moved into process based systems.
Why is ERP Software? –
Future of ERP trends – Extended ERP systems As business demand increases, today’s install based ERP could not able to meet business needs and it lead to more expenses to maintain and customise. These old software couldn’t manage the Sales Force Automation, Online interface to their web portal etc.
A New / Second generation business owners needed new features like
1. Integration of eCommerce portals with ERP to process the bills in online mode.
2. Business owner wants his vendors and customers to connect to his ERP system. This would help Customers and Vendors to see their bills and invoices etc at one place.
3. Connect to Mobile Apps, so that Sales person takes orders in real time. Sales person life would be made easy and simple. Now he can submit his Daily Sales Reports and Expenses report in online mode.
4. He wants to share his ERP with his Accountants and Auditors so that they are all updated real time with details.