India is one of the fastest growing economies of the world. This growth has been supported primarily by two sectors - manufacturing and services.
The Indian manufacturing sector currently contributes 16-17% to GDP and is projected to grow to 25% by 2022. This growth is supplemented by support from the government through initiatives like ‘Make in India’. Realizing the importance of the manufacturing sector and the amount of employment it can generate, many initiatives are being taken up to foster growth in this sector.
This massive growth in the manufacturing segment brought in new process related challenges that any small to large-scale manufacturers face. Few are mentioned below-
- Manufacturing setups are now becoming more global in nature. Having plants located in multi-locations and managing systems from one central location can pose as a challenge.
- With stringent rules and regulations in place, most manufacturers now have to maintain basic hygiene in terms of paperwork and audits. With bigger plants and warehouse setups, it can get difficult for the management to have all the required documents and information in one place with all the required data.
- The opening up of the economy and exposure to global markets makes it impossible for the manufacturer/traders to deal in the local currency. A system that can do business in a multi-currency setup is the need of the hour. Manually handling currency conversions and tax-related matters is time-consuming and erroneous.
- With fast-paced growth of the economy, the manufacturing cycle also had to speed up. To speed up an existing cycle, there has to be a backend system in place that tracks, stores, updates and analyzes real-time data and information, so that it can be accessed from anywhere and anytime.
- Another interesting change is brought in by the advent of Industry 4.0, which is driven by a combination of emerging technologies like data volumes, digitization, Internet of Things (IoT), business analytics, artificial intelligence, simulation, advanced robotics, additive manufacturing, sensor-based technologies & cyber-physical systems.
All these issues presented the genesis of a new solution- a robust ERP system to streamline processes and make inter-department dealings hassle free. Multiple locations, currencies, processes and departments can be easily managed and tracked through a single smart dashboard. All information is captured in real time in one place, aiding fast and easy decision-making process.
SMEs today either have one or are in serious thoughts of getting an ERP solution, to bypass the challenges that come their way in a fast-growing manufacturing set-up.
Myths around ERP
Many organizations refrain from going ahead with an ERP solution as they are convinced with some myths related to ERPs.
#Myth1: ERP is too expensive
Yes, some high-end ERP solutions can be expensive. Depending on the size and requirements of your business, the decision needs to be carefully taken. There are many customizable and cost effective ERP solutions available for startups, SMEs and high-end enterprises. EPPS ERP offers a low cost of investment, due to no 3rd party license fee and a concurrent user policy, thus, making it a viable proposition.
#Myth2: ERP is only for large enterprises
It is a common misconception that ERP is meant for large enterprises only. Everyone needs accurate and real time data updates for their business in this competitive environment.
EPPS provides a modern ERP solution, ideal for growing SMEs. A robust solution loaded with features that manages your business growth efficiently, while handling large volumes of data with ease.
#Myth3: ERP only benefits upper management
Yes, ERP can help top management with real time insights for better decision making. As the concept of ‘Smart Factory’ (Industry 4.0) is catching up, it’s important to create and encourage a digital workforce. This should not only be limited to the top management but should drill down to the field sales agent’s level.
EPPS ERP solution is helping SMEs empower their workforce with digital transformation from pure manual procedures with ease. Mobile ERP Solution is facilitating in real time data sharing, integration,
#Myth 4: ERP access only within office
Long back, the use of an ERP was restricted to an organization’s premises only. Today, a mobile ERP solution is the market trendsetter, which is enabling SME’s to extract maximum efficiency and streamline their business processes.
Modern ERP solution providers like EPPS offer customers chance to access their solutions anytime, anywhere. A simple mobile app by EPPS, can make it accessible with your smart phone. Thus, you can always stay connected with your business from any location, at any time.
#Myth5: ERP is complicated and difficult to use
It is another common myth that an ERP software, needs rigorous product training for the users as it is very complicated and difficult to use.
EPPS provides easy to use ERP solution, with its simple and user friendly UI design. It is a solution where minimum training is needed. Your team members can quickly get started.
#Myth6: It takes too long to implement
Gone are the days when ERP implementation were complex and long drawn process. It simpler today, with EPPS ERP solution. A click to install model, EPPS Lite ERP gives you access to the essentials to get you started on your journey towards growth. In EPPS enterprise, with proper project planning, conceptualization, realization, go-live preparation and go-live support, get phase closure and project survey and can be the ideal resolution for new age SMEs.
#Myth7: An accounting software can match the benefits of an ERP
Going with just an accounting software cannot be equated with an ERP solution. The basic fact is that both have different functionalities. While things may seem good in the short run but as the business grows, handling the large volume of data inflow, poses as a challenge. Other features like access control rights, security, real time data updates, notifications etc., are not present.
If you are looking to streamline your operational efficiency and eliminate the use of multiple softwares to manage the different processes, it’s time to gift your business with an ERP that matches your business requirements.
EPPS is a future-ready platform that can easily accommodate any future technological advancements and also manage high volume of data and growing number of users. It also ensures easy migration of existing customers from an old platform to a new one seamlessly without any risk of data loss.
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