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Friday Nov 29, 2024
Monday, 11 December 2017 00:00 - - {{hitsCtrl.values.hits}}
ERP (Enterprise Resource Planning) systems, conventionally used by big organisations, are now considered as powerful information technology solution for SMEs (Small and Medium Scale Enterprises) in order to remain competitive in the business.
ERP paves a good path to streamline the internal and external processes of enterprise and promotes qualitative development in the work and work process and it essentially helps to enhance the bottom-line of a company, if implemented properly.
Baradhwaj, Manager International Business of Tally Solutions India Ltd., addressed the members of CA Sri Lanka at the CA Sri Lanka auditorium on 24 November, emphasising on the importance of a proper implementation of an ERP system to get to best out of an ERP system.
“Although great business is built on great products, technology is increasingly the underlying driver of a company’s success, regardless of the industry or marketplace. From accounting and point-of-sale (POS) systems to inventory and fulfilment technology, the efficacy of the solutions you invest in has the potential to make or break your business. Hence, it is vital that the organisation selects the correct technology at the very outset.”
Baradhwajpointed out that there may not be anything called “right” or “wrong” technology but it is essential to keep ROI in mind in adopting the technology, otherwise the very purpose may be lost. He brought infive facts to be used as a guideline in selecting the technology – cost, deployment and scalability, user access, accessibility and security – depending upon the organisation.
Most of the commercial ERP systems are known for certain industry verticals and hence it is extremely important to select the most suitable product where the charted accountants have a vital role to play since they know exactly what they need.
Once the appropriatetechnology and the product are selected, the organisation has to follow a set of well-defined steps of implementation from “setting-up objectives” till “go-live” in a pre-determined timeframe. Baradhwaj emphasized the fact though all these are done in a perfect manner, if the organisation does not analyse the data in all the possible angles and convert them to information, there may not be a direct impact from the ERP towards the growth of business.
Baradhwaj concluded his speech by summarising the fact that choosing a technology and the software which is the right fit for your business, i.e. aproduct which is designed to fit into your scheme of things. Be it handling exceptions that you may face in your day-to-day operations or adapting to your way of working, the software should handle everything with the required flexibility. Also, it should empower you to focus on running and growing your business while it takes care of all complexities.”
The Authorised Master Partner in Sri Lanka for Tally is ABS Information Systems.
