Unformatted text preview: etc.
• Helps in eliminating most of the business problems like Material shortages,
Productivity enhancements, Customer service, Cash Management, Inventory
problems, Quality problems, Prompt delivery etc.,
• Provides avenues of continuous improvement and refinement of business
• Helps in laying down Decision Support Systems (DSS), Management
Information System (MIS), Reporting, Data Mining and Early Warning
Systems to the organization. Components of ERP
ERP solutions are usually divided into many sub-systems, like Sales and
Marketing, Master Scheduling, Material Requirement Planning, Capacity
Requirement Planning, Bill of Materials, Purchasing, manufacturing including Shop
floor control, Accounts Payable/Receivable, Logistics, Asset Management and
Benefits of ERP
According to the organizations to have implemented ERP some of the
claimed benefits are as follows:
• Gives Accounts Payable personnel increased control on invoicing and
payment processing and thereby boosting their productivity and eliminating
their reliance on computer personnel for these operations.
• Reduce paper documents by providing on-line formats for quickly entering
and retrieving information.
• Improves timeliness of information by permitting daily postings instead of
• Greater accuracy of information with detailed content and better
presentation. IT Audit Manual Volume III 4 IT Audit Manual
• Improved Cost Control
• Faster response and follow up on customers
• More efficient cash collection, through reduction in delay in customer
• Better monitoring and quicker resolution of queries.
• Enables quick response to change in business operations and market
• Helps to achieve competitive advantage by improving business process.
• Provides a unified customer database usable by all applications.
• Improves International operations by supporting a variety of tax structures,
invoicing schemes, multiple currenci...
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This note was uploaded on 10/27/2013 for the course LAW 10-100 taught by Professor Parsons during the One '10 term at Bond College.
- One '10