HOW ERP HELPS TO REDUCE OPERATIONAL COST AND IMPROVE ROI?

Can ERP cut operational costs? Cost cutting become the talk of the town since the COVID-19 pandemic began. This pandemic brought an abrupt halt to the global supply chain and economic transactions. The global lockdown and transport-related bans put tremendous pressure and economic imbalance on many small, medium, and large companies, causing sudden business closures and failures all over the world.

This economic situation has forced companies to cut operational costs and survive in the business without loss. Companies have to find low-cost software and technologies to manage scenarios of remote working, optimal production, reduced running costs, and result-oriented business operations.

An ERP is a centralized platform that consists of inbuilt inventive technologies like automation, artificial intelligence, BPM, etc. It, therefore, remove many cost affecting Assets, Digitalize of streamline operations, produces accurate information, automates daily tasks, reduces operational overheads, creates optimal production results, and improve profitability. Modern-day ERPs are cost-effective and offer a guaranteed return on investments (ROI). ERP improves profitability.

Below given are few ERP factors that help an organization to cut business costs and create an optimal performance-oriented workspace.

Complete the Work at Origin

The modern day concept makes the business process at the origin only. In the conventional all data such as enquiry details, purchase order preparation, supplier or customer creation etc. are entered by the workforce within the organization. In the new concept the customer or related parties itself register with their details, select items and provide orders and all necessary details provided in the platforms of modern ERPs.

These may include:

• Supplier Portal
• Customer Portal
• Associated Party Portal
• Employee Self Service
• Integrated E-Commerce Portal
• Integrated mobile apps
• SMS, E-mail, App Notifications
• E-acknowledgement
• Social Media Integration
• Artificial Intelligence
• Live responses
• Automated reactions
• Payment Gateways
• Integrated Marketplace

Intelligent Work Management

How about an application that automatically feeds all the right works to the right people at right time and ensure it is achieved in right time. The modern era concept of automation is perfectly blended with Realsoft ERP. Here all the users get updated to a their work in the form of feeds generated with an algorithm developed by Realsoft to ensure all tasks, meetings, alerts, notifications, summaries, reports, issues, approvals, schedules, follow-ups, requirements are available to the respective users workspace. It also ensure the delayed feeds are notified to respective authorities.

• Automated feeds,
• Intelligent algorithm
• Customized action buttons
• Process automation
• Quick MIS
• Business Process Management
• Advance, On-time and delay alerts
• Quick Follow-ups

GPS & Biometric-Enabled Attendance and Employee Self Service

With an integrated ERP software, organizations can now compute and manage the attendance of its employees who work from their home, office, or at remote sites. This comparatively cuts operational costs.  Some of the advantages of ERP software are;

• Eliminates Attendance Machines and related Peripherals cost
• Employee Self Service
• Reduced Paperwork & Effort
• Online Attendance & Live Synchronization
• Works with Smartphones & Mobile Devices
• E-documentation
• Automated Alerts and Notifications
• Location Coordinates Verification
• Live Approvals, Payroll Processing
• Comment Facility & Eliminates Falsification

Paperless and Online Office 

Cloud-ERP software digitalizes your office settings fully and create a paperless environment. It will save time and money spent on printing and stationaries. ERP improves profitability. Key features are;

• Everything Online (Approvals, requests, attachments, comments, revisions, submissions, etc.)
• Saves Time & Expense
• Digital Documents for Easy Storage and Retrieval
• Exceptional Traceability and Security
• Provides Centralized Storage
• Automated and Audit Ready
• Smart Forms and Remote Access

Mobile / PDA-Enabled Inventory and Asset Management

Improper inventory and asset control can lead to bleeding money, damaged items, expired materials, and wastage. An ERP software with an integrated mobile / PDA system enables you to track and restructure your inventory efficiently and cut operational costs. Some of the major factors are;

• Portability, Convenience & Accuracy
• Multilevel Barcoding & Scanning
• Mobile App – Customization, Software Updates
• Reduces Manpower, Machinery, Overheads,
• Secure & Environment-friendly
• Easy traceability and anywhere access of information

DMS (Document Management System)

The ease of use and ability to trace, safeguard, retrieve, and manage documents and records add to the transactional and operational excellence of an organization. An ERP with integrated DMS allows you to create a centralized platform that replaces paperwork and errors. Some of the critical factors are;

• Automated Archiving
• Centralized Storage
• Instant Access & Security
• Internal Sharing & Redirection
• Attach Options (E-Mails, Documents, Billing, Drawings, Receipts, Proposals, etc.)
• User Access Control (Audit Reports, Tax Summary, Invoices, Legal Documents, etc.)
• Provides Uncluttered and Organized Document Storage
• Multi-layer approval and remarks

Intelligent Requirement Calculation

An ERP software offers creative controls and solutions to the store, inventory and operations requirements of a business. Smart Re-order calculation is a significant feature that allows a company to regulate their stocks and inventory using intelligent forecasts, sales matrix, and pattern analysis. The system identifies the exact moment for re-ordering stock, controlling production, regulating existing stock, and tracing least-sold items and avoiding bottleneck situations. It helps ERP reduce costs. 

• Automated Re-order System
• Optimized Level of Inventory & Stores
• Identify Risks & Bottleneck Situations
• Create Dynamic Production Plan
• Prepare automated orders
• Identify manpower and resources requirements
• Maximizes ROI and Service
• Smart Inventory Analytics, Forecasts, & Reports

Budget vs Actual Locking 

An ERP helps companies to regulate their expenses and stick to strict budgets using its inbuilt technologies and tools. The software uses smart work breakdown structures and segment-wise estimations to provide detailed and accurate cost information. It helps the company to analyze the budget against actual costs during each stage of business using real-time data and analytics. ERP reduces costs and some benefits are;

• Controls Unwanted Expenses
• Regulate Material, Labor, Equipment, Overhead Costs
• Real-time Tracking & Monitoring
• Smart Project Scheduling & Planning
• Live Collaboration & Communication
• Centralized Project Control & Database
• Account level budgeting and  monitoring
• Intelligent alerts for budget levels

Smart WBS

An enterprise resource planning software delivers intelligent project management tools, help you create smart work breakdown structures, and prepare for the project efficiently. It helps cut business costs.

• Segment-wise Estimation & Control
• Schedule and optimize Works
• Control & Realize Project Deliverables
• Real-time Information & Milestone-based Analysis
• Optimized Resource Allocation & Utilization
• Predefined Responsibilities and Accountabilities
• Helps Identifying Stage-wise Challenges & Hurdles

App-Enabled Job Execution & Workforce Management

ERP software like RealSoft provides mobile apps for site handling activities. A mobile app can considerably improve the performance of the project team using real-time synchronization and collaboration facilities. The engineer or supervisor can discuss with the management and clients and upload project associated documents for submission and approval. It is an ultimate tool for companies to track employees, timesheets, material requests and usage, delivery, logistics planning, etc. and cut operational costs.

• Real-time Site Administration
• Offline & Online Synchronization
• Remote Access & Collaboration
• Online Approvals, Submissions, Requests
• Attachment Options (Documents, Pictures, Drawings, etc.)
• Live Status Updates
• Budget and stock alerts

Avoid Theft & Misinformation 

Business corruption and mismanagement of resources are critical factors that affect the performance and survival of a company. ERP is a single-window solution that prevents fraud and corruption. It allows for multilevel barcoding (batch-wise, product-wise classifications) and uses technologies like AI, Machine Learning, and Automation to restructure the workflow, bring visibility and transparency, and eradicate fraud.

• Audit Trial and user activity history
• Automated Alerts & Notifications
• Live Inventory Monitoring
• Prevents Accounting Malpractices
• Predefined Workflow & Security
• Real-time Updates & Traceability
• Multilevel Authorizations and Approvals  
• Intelligent Barcoding & Scanning

Live Stock Movement & Multi-branch Support for Increased Sales

ERP software provides a unified platform for managing multiple companies, locations, warehouses, and branches. It provides improved visibility and opportunity for sales. In the case of no stock situations, the salesman can redirect the customer to another branch or sister company where stocks are available or raise inter-branch material requests and transfers. It can also suggest local market price and possibility based on the history.

• Improved Sales Across Branches
• Inter-branch Transfers & Requests
• Centralized Database & Accounting
• Local Purchase History
• Item booking
• Location-wise Reports & Analysis
• Improved Information Sharing & Customer Support
• Software Scalability & Usability

Integrate e-Commerce Applications 

Create or integrate your e-commerce platforms with ERP software to provide a combined working environment. It enables better communication between the platforms and eliminates errors as it shares a central database. It reduces operational expenses, improves marketing opportunities, and increases sales.

• Eliminates Duplication & Errors
• Reduce Running Costs & Overheads
• Improve Productivity & Sales
• Quick Sales & Customer Satisfaction
• Integrated Reporting & Analytics
• Single-window Control of Business & e-Commerce
• Real-time Synchronization between Enquiries, Orders, Inventory & Production
• Payment Gateway

Supports Third-party Application Integration

Running several applications and multiple windows to manage your business will create chaos and difficulty. Integrating your third-party applications with an ERP like RealSoft is now possible and easier. It will improve performance, automate tasks from multiple platforms, centralize the workspace, reduce human errors, and regulate human involvement. Now you can integrate ERP with;

• CRM Software
• Social Media
• Accounting Software
• E-Commerce Platforms
• Payment Gateways
• Messaging Systems
• Reporting Tools
• Marketing Tools
• Government Websites & Services
• Biometric Devices, etc.

Delivery & Logistics App

Well-planned logistics and timely delivery are critical factors that affect business in many ways. An ERP that supports mobile apps can reduce transportation costs and overhead expenses, improve logistics scheduling, reliability, and customer satisfaction.

• Easy to Track & Real-time Updates
• Improved Vehicle Scheduling & Booking
• Reduce Overhead Running Costs
• Improved Response Time
• Bring Visibility & Transparency
• Streamline Transportation & Delivery
• Easy to Integrate with ERP
• Delivery notifications and alerts
• Electronic verification and acknowledgements
• Barcode and QR code support

Portal for Suppliers, Customers, and Third-parties 

An integrated third party portal in ERP software acts as an e-Procurement portal that transacts documents, queries, proposals, orders, feedback, invoicing, outstanding information, purchase requests, tenant details, ticketing system, survey, reporting, and internal messaging system.

• Improves Collaboration & Communication
• Single-window System
• Attach Documents, RFQ, Drawings, Invoices, Pictures, etc.
• Self-Service & Dedicated Portal
• e-Payments, e-Procurement, e-Ticketing, e-Approvals
• Genuine Information & Quick Access
• History and outstanding information for associated parties
• Alerts and Notifications

Integrated Marketplace

Companies can Integrate Marketplace to the ERP software or make use of Realsoft Marketplace simplifies and automates your sales, order processing, and storing & retrieving product-related information. It increases customer experience, reduces overheads and additional employee costs, and create faster order fulfilments. Realsoft Marketplace is available various sectors including trading, Property Management, Facility Management, Service Providers etc.

• A Centralized Platform
• Anytime, Anywhere Order
• Real-time Inventory Allocation
• Self-Document processing
• Supports Suppliers, Customers, Landlords, Tenants, Brokers and service providers
• Intelligent Re-order System
• Smart Discounts, Loyalty Points, Bonus, etc.
• Automation of Sales, Purchase, Inventory, Order-processing, etc.
• Massive Open Market Possibility
• User-friendly Purchase Platform
• Integrated Accounting & Finance
• E.g. Amazon, Walmart, eBay, etc.

Import & Export

Importing and exporting is an integral part of a supply chain. The governing bodies introduce new tariffs, complex documentation processes, and changes to local and international policies. Modern ERPs facilitates a smoother import & export management system. It, therefore, cuts operational costs and improves profitability.

• Eliminates Errors & Failures
• Complies with Import / Export Policies
• Ready Statements & Summary
• Mange Shipping Information, Landed Cost, Inventory & Supply Chain
• Tracks and Maintains History & Records
• Facilitates Simplified Global Trade
• Continuous Market Assessment
• Integrated DMS System

Smart BPM (Business Process Management)

BPM enables an organization to define strategies and policies for processing triggers. Integrating BPM into ERP improves efficiency, standardize processes, provides an agile and dynamic workspace, and improves the reliability of the business.

• Faster Response Time
• Defines Workflow & Reduces Errors
• Improves Lead Conversion
• Improved Visibility, Transparency & Smart BI
• Track & Evaluate History for Better Analytics
• Create Organizational Goals & Objectives
• Ensure the right work is given to right people at right time

Computer-Aided Facility Management (CAFM)

CAFM is the modernization of the facility management process with the help of innovative tools and technologies present in an ERP. It streamlines and automates the FM process that includes maintenance, repairs, allocation, etc. Therefore, ERP improves profitability.

• Easy identification of assets and equipment’s
• Automated PPM Schedules
• Barcode and QR code support
• Customer direct posting
• Better Scheduling & Execution
• Work update with photos and e-signature
• GPS enabled job tracking
• Engineer allocation scheduling and notification
• User and customer App support
• Long-term Planning & Business
• Improves Efficiency
• Cost-effective & Sustainable
• Efficient Inventory & Store
• Detailed & Professional Reporting
• Tracking Trend and Budgeting

Automated Tax System

ERP empowers an organization with an automated tax calculation mechanism that is more accurate and audit-ready instead of the manual process that is costly and time-consuming. Thus, ERP can cut business costs and avoid legal complexities.

• Automated and Accurate
• Reduces Manual Efforts and Improve Efficiency
• Mitigates Legal Risks and Supports Growth
• Faster Quotations & Customer Satisfaction
• Eliminates Duplication, Fraud & Errors

Intelligent Reporting 

An ERP primarily analyzes the massive data in the organization continuously and produces intelligent reports and analytics for making faster, wiser, and right decisions on time. It cuts business costs and produces actionable MIS & KPI reports and creates growth opportunities.

• Intelligent Data Analysis
• Evaluates Legacy Data, Trends, Patterns
• Quick Access to Data
• Data Visualization & Insights
• Improved Data Quality
• Increase Lead Response & Processes
• Define Accountability & Responsibility
• MIS & KPI-based Reports

CRM Software

A CRM software redefined the sales life cycle starting from inquiry to sales and after-support. Integrating CRM to ERP improves profitability by maximizing the lead conversions and improving the after-sale service. It evaluates trend analysis reports and generates smart insights.

• Automation of Sales
• Lead source integration
• Inbuilt Marketing Campaigns
• Target and Sales analysis
• Direct customer contact
• Live lead position analysis
• Improved Customer Satisfaction & Support
• Helps Define User Roles & Responsibilities
• Manage Social Media
• Provide Customer Portals

Attach External Peripherals 

An ERP can cut business costs by enabling integration with third-party devices and peripherals. By integrating ERP to the Internet of Things (IoT), the organization can gain the most out of the solution. It cuts operational costs and improves profitability. 

• E.g. POS, GPS, IoT, Blockchain, etc.
• Suits Products from Various Industries
• Capture Location, Coordinates, & Multidimensional Data
• Capture Medical Details
• Real-time Tracking (Shipment, Delivery, etc.)
• Improve Accuracy & Maintain History
• Real-time and Actionable
• Efficient & Better Decision Making

Automated Workflow Management

Workflow management is the process of defining processes for each trigger and automating such processes by bringing them into a central platform. It creates an accessible user platform and streamlines their workflow. Workflow automation helps an ERP to cut business costs. RealSoft is a perfect solution that uses intelligent workflow management automation.

• Eliminate Duplication & Unwanted Tasks
• Improve Productivity & Accessibility
• Produces More Accurate Data & 360-degree Understanding
• Generate Multilevel Reports
• Evaluate and Improve Performance Patterns
• Automate Employee Growth, Life-cycle, and Response Time

Remote Access

New-age ERP software like RealSoft enables remote access facilities for its users. It allows a user to feed data into the system from anywhere and access the data remotely. Cloud-based ERPs are easy to deploy and access using any mobile devices, web pages, or applications.

• Secure Login to Server
• Multi-device Support
• Faster Work & Collaboration
• Create Work from Anywhere Atmosphere
• Easy to Track, Monitor, and Access Information
• Instant Access to Files & Decision Making
• Restrict User Access Controls & Permissions

Advanced Notifications & Alerts

Integrating automated alerts, notifications, and reminders in an ERP improves efficiency and response. It keeps the users and associated parties in a loop. It enables the user to send automatic internal messages and alerts to designated people on work updates, expiry, permits, schedules, delivery, payments, etc. ERP improves profitability and reduce operational costs. The user can automate the below;

• Notification on Product Launches, Discounts, Offers, etc.
• Send Notifications to Relevant People by e-Mail, SMS, Internal Messaging System
• Alert on Re-order Levels, Batch Expiries, Delivery Schedules, etc.
• Alert for Invoices, Transactions, and Dues
• Prompts for Real-time Action
• Eliminates Possibilities for Mistake, Negligence, Downtime
• Keep Documents & Records Legally Compliant & Updated

Social Media Integration

Social media plays a vital role by keeping the customers updated on the company’s product and services, creates a massive marketing environment, and influence the customer’s buying decisions. The marketplace grows as a greater number of people get familiar with social media daily.

• Easy to Market & Develop Business
• Improves Performance, Reachability, & Sales
• Evaluate and Analyze Customer Experience, Satisfaction, & Interest
• Automate Feedback Handling
• Better Interaction with Customer   
• Faster Lead Conversion & Less Investment
• Wide Digital Advertising & Marketing Options

Customer Loyalty Points 

Repeated purchases, customer loyalty, retention, and satisfaction are some of the objectives of implementing an ERP. It is also a factor that helps ERP cut business costs. An ERP can improve profitability by incorporating successful customer engagement programs, like the Customer Loyalty Program. It acts as a sales metamorphosis that improves sales leads, satisfy customers, and create an excellent buying atmosphere.

• Loyalty Apps
• Personalized Customer Experience
• Offers and Promotions notifications
• Tactful Customer Engagement
• Offer Exceeding Customer Services
• Multilevel Bonus Points
• Convert Redemption Points into Purchase
• Integrate Third-party Participations
• Automated Sales & Marketing
• Multilevel Loyalty Point Earning System

ERP improves profitability and cut business costs with the help of innovative technologies and inbuilt functions. It also can be integrated with several third-party applications and modules to optimize performance, productivity, and efficiency. It will then reduce costs. RealSoft ERP software is one such amazing technology that helps you cut operational costs and provide administrative controls to your organization along with an assured Return on Investment (ROI).

Realsoft3 (R3) is brilliantly crafted by combining on-site industry experience, enterprise knowledge, and advanced coding skills. RealSoft ERP has a committed and proactive customer support team to train your staff, troubleshoot your issues, and provide high-class back-end support.

Available Modules

An ERP can offer various modules according to the business requirement including;

• Finance & Accounts
• Sales and lead Management
• Inventory Management
• Procurement Management
• HR and Payroll
• Employee Self Service
• Document Management
• Fixed Asset Management
• Property Management
• Real Estate Management
• Property Broker Management
• Service Management
• Facility Management
• Customer Relationship management
• Business Process Management
• Delivery and Logistics
• Shipments and Cargo
• Projection Management
• Project Management
• Job Costing
• Point of Sale
• Clinics and Pharmacies
• Club and Event Management
• E-Commerce
• Restaurant Management

Learn more about the endless possibilities of R3, a more futuristic and promising Enterprise Suite.