Enterprise resource planning (ERP) is a process through which a company manages and integrates the various important parts of its business such as planning, purchasing, inventory, sales, marketing, finance, and human resources of its business. It is mostly used in the context of software; there are larger software applications developed to support companies in implementing ERP effectively. ERP System connects various technologies used by an individual part of a business; it involves integrating accounting systems, inventory management, Human resource management, and a lot more.
What Does a Good ERP System Look Like?
In order to render ERP a worthy investment, one should opt for the following characteristics:
- Human Capital Management
- Supply Chain Management
- Delivery Methods etc.
A Clear Break Down of Features that Make Enterprise Resource Planning Worth Investing In
It is not advisable to blame it on the businesses for choosing technology that doesn’t do the expected good. There is a lot of ERP system available in the market. First of all many software claims to cost-effective or fully customized in nature but it is still unsure that it will serve your expected purpose. This happens because they may be conflicting and misleading in nature. Therefore when you opt for an ERP system keeps the following features in mind which a perfect ERP system provides. If you are looking for the best ERP system in Singapore, HashMicro is at your service. HashMicro provides a wide range of tailored and localized systems which are customized, user-friendly, and packed with innovative features.
Business Accounting Software
This system allows you to keep a check on all the accounting needs of the firm with the help of few clicks. It will help in cutting down the overhead in managing accounting-related expenses of the organization. It brings the control of your accounts completely into your hands an end to all the associated problems. Features of HashMicro Singapore localized accounting management software are:
- It keeps a track of all the purchases made, purchase orders, delivery orders, credit notes, GRN, and assets, etc.
- The software is IRAS compliant and Singapore Localized that will generate all the financial reports required by the firm.
- It can create General Ledger, Profit & Loss, IAF, GST Reports, and generate Transaction History easily with a single click.
- It helps in storing and retrieving transaction history effectively. We can easily pull the reports to get the data in exchangeable formats.
- Invoice Creation & Management – It is essential to create an invoice for one single delivery or multiple deliveries.
- Multi-Currency Support – This feature provides powerful and comprehensive purchasing, sales, and accounting functions.
- Profit & Loss, Balance Sheet, Ledger Balance, Trial Balance Generation – A general ledger includes accounts with their debts and credits and shows all transactions in an account for a financial year.
- Journal Entry Management system – Besides invoice creation & management, the ERP system has a journal entry management system to create, review, and approve journals and then certify and store them with all supporting documentation.
- Chart of Account, Chart of Taxes Management – This feature has virtual charts of accounts that useful for business. You can utilize it to manage several representations of the same accounts simultaneously.