At its most basic level an ERP system covers a broad set of activities that help an organization manage its business. The goal of an ERP solution is to integrate business processes and facilitate the flow of information within an organization so business decision can be data-driven. But increasingly most modern ERP solutions are going beyond this simple brief to provide solutions that help the business grow.
One area that has seen a lot of interest from ERP vendors is enhancing the value of their product by providing their customers with increasingly sophisticated and business-friendly tools. The Sales and Distribution module in an ERP can help manage the relationship with suppliers & customers thus facilitating strategic decisions. As the level of complexity increases, vendors are building in sophisticated tools that help manage this aspect better and facilitate quick decision making.
While selecting an ERP look for the below mentioned features-
Price Book: Check with your vendor about the options available when creating a price book.
- It should enable you, to create price books based on specific customers, sales channel (distributor/retailer/wholesaler) or even business territory that could be defined as a zone.
- Has the ability to create different price lists: For example you can create a master list, derivative price list or even an isolated price list depending on your needs. This will help manage customer or supplier expectation and needs better.
- Provision to set the upper or lower limits for base price. It should have the provision to capture the MOP (Market Operating Price), DP (Distributor Price), and MRP (Maximum Retail Price) rate for an item.
- Easily map discounts on to the price book.
Discount Matrix: A well-defined discount matrix can be another very useful feature when managing different suppliers & equips businesses to pass on benefits to customers.
- The ability to define discount names and to be able to manage multiple discounts will give you the flexibility to react to market conditions in a real-time basis.
- Another big advantage would be the ability to define discounts by item, value, quantity or over the total order value. Having the ability to do so would be helpful to cater to specific customer requirements.
- It also helps if you have the ability to set discounts based on criteria on specific item, item group, brand or a combination of all three.
- Provide you with the tools required to apply different discount logics like marginal, multiple and provisional marginal discounts.
Rebates and Schemes: Given the hyper-dynamic business environment of today it is helpful to have a well-defined rebates and schemes structure. One that will:
- Have provisions for defining rebate and schemes for customers, suppliers and salespeople.
- Create and manage different types of rebates like Sell in, Sell out and Purchase
- Have the ability to manage settled and claimed rebates easily.
Having an ERP solution that provides useful plugins like the above, can help you manage the complex processes, craft effective strategies that help you perform more effectively while giving your business a competitive boost. A modern, easy to use and innovative ERP solution can help click here to know more.