What is ERP and How Should It Work for Your Business?

Insights on What ERP is and How Should It Work for Your Business?

  • Insights from Your Trusted ERP System Experts

Enterprise Resource Planning (ERP) is a business process management software that consists of a suite of applications for integrating and managing all critical aspects of your business. From production, supply chain, logistics, and sales and marketing, to project management, HR, finance, and risk and compliance, a comprehensive ERP solution can help you run your entire business through one unified system. Even at its most basic level, an ERP system can improve organizational efficiencies by streamlining, automating, and digitalizing your business processes.

Read on to learn more about the importance of ERP systems and what an optimally tailored ERP solution, such as SAGE X3 can do for your business.

 

Understanding the Basics of Any ERP System

Any typical ERP system features different modules that cater to the specific needs, transactions, and relationships of different functions. Every module connects with a central ERP system, which becomes the single source of truth for accurate, real-time information and data that is accessible across functions and departments. For example,

Finance and Accounting Module: Serves as the backbone of any ERP system. Besides managing the general ledger or tracking accounts payable (AP) and accounts receivable (AR), this module automates all the key financial tasks, including generating financial reports, mitigating financial risk, and managing compliance with regulatory reporting norms.

Ø Human Resources Module: Streamlines and strengthens the core HR operations, such as time and attendance, and payroll. Additionally, most modern systems offer a complete suite of human capital management capabilities, including employee experience management, performance management, workforce analytics and more.

Ø Manufacturing Module: Helps in the planning and execution of complex production lines with powerful features that support robust Material Requirement Planning (MRP), production scheduling, and quality management and other aspects of manufacturing execution.

Ø Supply Chain Module: Offers lot tracking and traceability throughout the organization’s supply chain, giving your teams complete visibility and control over inventory management, warehouse operations, transportation, and other logistical challenges.

Ø Sales Module: Keeps track of all communication with existing customers and prospects and supports your staff with data-driven insights for lead generation, sales and upsell opportunities. Typically, Sales ERP modules also support the entire order-to-cash lifecycle, including order management, contracts, billing, sales performance management, and sales force support.

 

What is SAGE 300?

SAGE 300 is a business management software that allows you to manage various areas of the business through an ERP system. Besides finance and accounting, you get separate modules for operations management, inventory management (including lot tracking), and distribution. SAGE 300cloud is also a desktop-based product with cloud connection, and is ideal for small and medium-sized organizations, especially those with more than one location or entity. A version of SAGE 300, the SAGE 300CRE specifically caters to the Construction and Real Estate businesses and is a very popular accounting software in this sector. The SAGE Business Cloud accounting software includes both, SAGE 300cloud and SAGE 300 CRE.

What is SAGE 500?

A complete enterprise management solution catering to large organizations, the SAGE 500 ERP system enables every business function to run consistently at peak efficiency levels. The SAGE 500 ERP software is not only flexible and customizable, but it also offers the scalability to support growing organizations that have evolving needs and business goals. Ideal for large, progressive organizations that wish to build upon their core financial accounting software, the SAGE 500 ERP enables businesses to streamline their operations, manage with insights, and improve profitability across every aspect of the enterprise.

What is SAGE X3?

One of the most advanced offerings from the SAGE Group, SAGE X3 ERP is a powerful, cloud-based ERP system that offers flexible business management solutions for medium-sized businesses across sectors. From purchasing, inventory management, and manufacturing operations, to finance, sales, and customer service, SAGE X3 can help you streamline and simplify every aspect of your business.

Here are some of the benefits of the SAGE X3 ERP system:

  • Ideal for businesses with multi-company, multi-national, multi-language, multi-legislation and multi-currency transactions, processes, or relationships.
  • Complete integration and seamless flow of data and information between finance, sales, supply chain, and customer service.
  • Fast, innovative, flexible, and highly customizable system that can seamlessly integrate with other organization-specific software.
  • Robust functionalities that enable automated and accelerated processes, and smart and quick decision-making on various business aspects.
  • Solid support and guidance for achieving complete global and local regulatory compliance.
  • Feature-packed business intelligence module that supports planning, tracking, scheduling, and reporting across functions and processes.
  • Efficient user-interface and superior access and availability.
  • Sophisticated forward and backward traceability, including batch and lot tracking

SAGE X3 ERP can Drive your Digital Transformation Goals: With the right customizations, SAGE X3 ERP can become a dedicated, unified platform to manage all aspects of your business. You will get complete visibility and control over your internal operations, which in turn helps you respond faster to the various complex organizational issues. Whether it is managing traceability concerns, minimizing waste, or ensuring the safety and quality of the materials or end products, the SAGE X3 ERP system has the potential to completely transform the way you operate your business.

SAGE X3 ERP Offers Industry-focused Solutions: SAGE X3 has ERP solutions that cater to a cross section of industries, including manufacturing, chemicals, food & beverage, distribution, and professional services. For example, manufacturing businesses can take advantage of the SAGE X3 Web Scheduler (formerly called Production Scheduler). Not only does it track and record time-based production data, such as shifts and hours worked, but it also enables resource prioritization and optimization, which in turn can improve the overall business productivity and profitability.

SAGE X3 ERP Comes with 15 Complementary Partner Solutions: From business intelligence, document management, logistics management, and manufacturing, to finance, HR, sales, and e-commerce, SAGE X3 ERP offers flexible, complementary solutions for all critical business functions. For example, its finance offering, SAGE X3 Fixed Assets software can support the entire fixed asset lifecycle, from acquisition to disposal in a simple and streamlined manner. Its key features include comprehensive depreciation calculations, asset inventory tracking and reconciliation, capital budget management, construction in-progress management, and tailor-made reports. Businesses can benefit from its graphical step-by-step process maps, highly customizable reports, and accurate and speedy calculations. Automated asset valuations, improved compliance with legal frameworks, and greater information and data security are just some of the additional benefits of adopting the SAGE X3 Fixed Asset Management software.

Take Your Business to the Next Level with the Multifaceted SAGE X3 ERP System

Implementing an ERP solution is a huge transformational journey for any organization. Without proper guidance and a balance of technology and change management initiatives, your investment may not generate the desired ROI for this mammoth project. Partnering with an experienced ERP solutions deployment expert, such as Panni Management can help your business achieve your digital transformation goals in a timely and efficient manner.

At Panni, we have years of experience and expertise in deploying the powerful, innovative SAGE X3 ERP solution for a variety of businesses across sectors. Besides the end-to-end system configuration and deployment, we can help you in every step of the ERP implementation journey, including business case development and change management initiatives for adoption of the new system. Our goal is to assist you in implementing a world-class ERP solution for building a profitable and future-ready business.

Are you ready to make your business more agile, efficient and profitable? Get in touch with the experts at Panni today. Get in touch with the experts at Panni to discuss your ERP system requirements. You can also book a SAGE X3 demo to learn more about its many features and functionalities.

Panni Management

Panni Management

Transforming businesses since 2009

For over a decade, Panni has helped companies transform their businesses to lead, innovate and be profitable. With the right combination of technology and experienced developers and consultants, we help companies with Change Management to achieve the organizational objectives. We believe in long-term relationships with our clients and provide top-notch support with fast turnaround times.