COVID-19 or Corona Virus Disease has taken the world by storm and affected every person in one way or another. It has triggered a domino that is moving towards all the stratus of our lives.
Many Businesses have been affected by this pandemic with no solution on the horizon. Businesses operations like Manufacturing, Trading, Logistics and Administration have been affected the worst. Its aftermath will leave the economy in a tailspin. This dent will ruin many businesses if not dealt right.
Some of the most common issues faced by Businesses right now are as follows:-
- Remote Business Access
- Business Planning
- Employee Management
- Business Process
- Capital Management
- Uneven Inventory and Supply Chain
- Demand & Supply Shortfalls
- Asset Management
- Sales & Marketing
We should be looking towards a solution that helps in solving all these issues. A custom ERP designed specific to your business can help you with these issues in present and in future. You should consider following features in you Business Management Software :-
a.) Cloud Access – Access through a cloud server is very imperative at the moment. This helps your complete team to interchange information at multiple locations and provides universal access. The acces can be restricted and defined by the Admin.
b.) Business Analytics & Forecasting – A capable ERP always provides Business Intelligence (BI) and Key Performance Indicators(KPI) for analysing the business performances. This helps in forecasting Demand & Supply and better preparation of resources.
c.) HRMS– HR needs to be managed very carefully. It should be able to manage all resource activities along with Payroll. It should be coupled with an ESS ( Employee Self-Serve) to provide individual HR Access to Every employee. Using this an Employee can mark their own attendance, monitor their pay and leaves and also provide daily log for work done.
d.) Account Management – The software should have entries for all the transactions. It should be able to track entries for all direct and indirect taxes and also generate the VAT return file. And most importantly it should be accredited by FTA.
e.) Inventory Management – The Solution should also have a module to manage inventory. This helps to optimize stock usage and cuts down losses. It should be able to handle Discrete or Continuous inventory and also provide Aging Analysis of the stocks.
f.) CRM – there should also be provision for Client Management. This helps to interchange information between sales and marketing teams and better prospect conversion.
g.) Asset Management – Asset Management helps to track your assets. It helps to record their usage, prevent thefts/losses and prepare for replacements.
In conclusion, We would like to say that these points should always be kept in mind while looking for an ERP solution for COVID-19. It would always be better to have an analysis of your business done, prior to finalising on the modules.