An Enterprise Resource Planning (ERP) solution is an integrated suite of applications that can automate and control an organization’s business processes throughout the entire order-to-payment-to-delivery cycle by providing the end-to-end functionality that is required to operate effectively in any business scenario. Companies that use an ERP can improve efficiency, deliver better customer service, reduce operating costs, support growth and enhance their profits.
Best in class ERP selection criteria is:
- Functionality and features
- User friendliness
- Total cost of ownership
- Security standards of the environment and the solution
- Ability to be customized without programming
- Integrated and comprehensive suite of solutions in one system
- Quality and availability of support
- BYOD and mobile compatibility and access
- The quality of the supporting environment-the cloud
The cloud takes ERP to a whole new level with the ability to do business anytime, anywhere, and from any device with internet access. The data and solutions are parked on secure servers in remote locations from the client who accesses it through the internet via a web browser.
The cloud is already the preferred choice for ERP solutions due to its affordability, easy & anytime/anywhere access, lower financial & investment entry barriers as well as minimal set up times.
The cloud ERP solution began to make sense with:
- Reduced IT infrastructure, manpower and licensing costs for a cloud ERP solution makes the Total Cost of Ownership is much lower than an on-premise system
- With needs of access from multiple locations and different time zones that were remote from each other, on-premise solutions did not make business sense but cloud ERP solutions could easily handle that
- The cost of licenses, infrastructure and maintenance was not feasible for many with the obsolescence factor that required revisiting those costs again in the case of on-premise solutions. The cloud ERP solution was affordable with a flexible subscription model, minimal infrastructure and maintenance requirements.
- There is better and real time access to data and reports and easier collaboration with the help of inherent tools in the solution.
- There are automated alerts for possible future issues or opportunities via Business Intelligence / Analytics feature that can easily be used for business success.
- The solution is accessible from anywhere there is an internet connection and available 24X7 including on mobile devices
- The supply chain, marketing / sales and operations would be integrated as one solution seamlessly and in real time hereby eliminating duplication of effort and manual activity.
- Implementation times are in a matter of days not months as in on-premise solutions
- The workload on the IT department is much lower than an on-premise solution
- Achievement of ROI by cloud ERP solutions is 75% faster than comparable on-premise solutions as per industry research
The key capabilities enabled by a cloud ERP solution for manufacturing are:
- Standardized enterprise wide procedures for production planning and operation
- Operations are integrated with customer service and the supply chain as well as financial/accounting requirements and compliance needs as per regulations
- There is easy traceability to drill down to the transaction level
- Ability to forecast and tackle issues with data driven decisions is greatly enhanced in those using a cloud ERP. These organizations do better order management, supply chain management, operations management, financial and accounting management with more accurate data in a shorter time with the same resources
- They perform better than on-premise systems in key performance metrics like days to close a month, days sales outstanding, hours from order taking to shipment, on-time delivery performance, increase in operating margins, outperforming employees, decision making time, response times, internal schedule compliance, inventory accuracy, accuracy of financial reports, accuracy of accounting data etc.
- Greater scalability options and flexibility in customization of the solution
- Automated updates and no IT infrastructure maintenance hassles relating to the cloud and the solution as it is tackled by the vendor
We at VersAccounts have created a secure cloud based one stop comprehensive ERP solution. It has been created to take care of all the business needs and concerns for operating your business effectively. It addresses key issues of the small business domain in the most effective manner possible. It is affordable and targeted towards SMB’s and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions. Our solution is built to be capable, affordable and easy to use by small and mid-sized businesses.
With the VersAccounts ERP solution, you can integrate project management, inventory management, multi-entity accounting, purchasing & order management, distribution, production, customer relationship management, and e-commerce functionalities into one solution with easy integration across your business functions. There are customization options with easy migration from and compatibility with respect to other systems preexisting or in the business environment.
The VersAccounts Small Business Cloud ERP system’s production capabilities cater to either the process or discrete manufacturing needs of customers. These capabilities include the creation and tracking of production orders across the manufacturing process including support for multi-level BOMs and recipes, ad-hoc changes in process and parts/ingredients, and precise and thorough tracking of all costs.
Built from the ground up on the latest cloud and mobile technology, the VersAccounts Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
To know more, please visit www.versaccounts.com or contact us directly.
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