Key players in the ERP Market of Bangladesh And The Overall Culture

ERP is a business process management software that handles all the departments– planning, development, manufacturing, sales, marketing, and everything under a central database. It pulls day-to-day data from different sources and combines them.

Doing all these things manually not only takes a lot of time, but it is also almost impossible to make it error-free.

Furthermore, since all the information remains in a centralized system, the stakeholders and their teams can easily see the data at any time and from anywhere. That’s why they can visualize their working progress more vividly and react more quickly if any emergencies arise.

This real-time data management system assists everyone in taking their future steps wisely.

Why Is ERP Software Important for Business?

ERP is software that can help your business, whether you are just a startup or an established enterprise. In fact, for big companies, this software is a must since they have to maintain a huge work volume as well as a great number of employees.

On the other hand, if you just start your business and are determined to expand more – which you obviously plan – then an ERP system can give you a good start.

Despite your business scale, the ERP system makes your business process more agile. Since the market is always changing, the modular-based system offers flexibility to help you to remain up-to-date.

In short, ERP software is important for any business for the following reasons.

• It saves the overall budget
• The centralized database improve business performance
• It helps to build a good bonding with customers
• Accurate data helps to grow business quicker

What Are The Things You Can Control with This Software?

Based on your business, an ERP system can be customized. You can add features that you need and eliminate those you don’t need.

In the following section, I’ll talk about the basic features that all ERP systems usually have. Take a look at them closely.

Read Also: What and How to use ERP Software?

Financial Management

The accounting feature is one great benefit you will get from ERP software. This module will handle all your account-related work like budgets and forecasting, accounts payable, general ledger, and accounts receivable.

Some systems can perform more advanced tasks like fixed assets management, revenue recognition, tax calculation, etc.

Customer Relationship Management (CRM)

Gathering customer data is really important to learn about the current trend. An ERP system helps to collect customer information, such as order history, contact number, etc., with details.

CRM systems also let a company prioritize their customer, give them extra benefits or offers, and others. A company can contact a customer easily when needed since they already have their contact number. This will also help a business to find a lead.

Human Resources Management (HRM)

HRM module is another feature of ERP software that you can use for your organization. This feature assists you in the hiring process, keeping track of your employees’ working progress and timeline.

The automated system will handle everything without any error. So, you can also calculate the benefit bonus properly. Hence you can maintain a good relationship with your employee.

Inventory Management

The inventory management module tracks the product of your company. Basically, it keeps the record of buying, selling, and storing. All these things will give you a precise idea about your stock movement.

Moreover, no matter if you have one or multiple business locations, you will always be updated with real-time data. Some systems even notify you if you are running out of stock.

Supply Chain Management

The Supply chain management feature tracks manufacturing processes, demand, inventory, logistics, and distribution. The records of work orders, purchase orders, and transfer orders assist in planning inventory and distribution across multiple locations.

ERP Solution for Different Industries

As mentioned earlier, different industries require different modules in an ERP system. Software that is suitable for maintaining a fashion house won’t be perfect for a construction company.

Therefore, we will tell you what feature you must adopt for your business in this segment.

Manufacturing

To maintain the manufacturing part of a business, a company mainly needs the following modules to interconnect their overall business operation.

• Material requirements planning
• Work order software
• Supply chain management
• Inventory management
• Fleet management

Sales and Marketing Service

Sales and marketing mainly deal with customers. So their ERP system is developed focusing on these criteria. The main features they have are-

• Customer relationship management (CRM)
• Marketing automation
• Customer service
• Contract management
• Helpdesk
• HR management
• HR teams need the below features to organize their service.
• Employee management tool
• Performance and attendance checking
• Application tracking and recruiting
• Core HR

Well, these are the three main fields that ERP software handles. If you have a small to medium-sized manufacturing, sales, and marketing, or HRM service business, you can develop your ERP software that is only based on the mentioned module.

On the other hand, a large company needs to install all of them and even more according to the business needs. And because of this, you have to choose an ideal service while purchasing ERP software for your company.

If you ask for our suggestion, we would like to suggest PrismERP for any sized business in Bangladesh.

Why PrismERP Is The Best ERP Solutions for Any Business?

PrismERP solution offers its service to all sizes of businesses. The software is ideal for manufactures, e-commerce, governments, and others.

It’s a platform-independent solution that is very easy to learn as well as easy to use. Besides, it lets you select your plan from four different options.

Say, if you have just started your business, you can choose the Starter package. There are also Standard and Pro packages for medium to large-scale enterprises. Again if you want customized modules, you can do that too by choosing the Custom package.

So just choose your plan according to your budget and requirements. At a very reasonable price, you will get your ultimate assistant.

Final Words

In Bangladesh, ERP solution is getting popular day by day among all types of businesses. And why not? This single software can reduce a lot of costs, minimize the chance of human error and ultimately secure a good future for your company.

In short, you will get more than what you pay for. But note that since this software handles all the things of your business, you should be very careful while purchasing one.