Enterprise Resource Planning - ERP and Tally ERP Implementation

Which is Best ERP | SAP vs Tally | Tally Prime Vs Tally ERP | ERP Consultants | Smart CA

How to Select ERP Consultants?

What is ERP? Enterprise Resource Planning is a system used for the integration of various business functions and operations. A small and medium-size business that has different departments including human resource, planning, inventory management, inventory control and acquisition, sales department, production department, and supply chain department, has to do a lot of operations daily.

Managing and controlling each of the departments is a stupendous task. Enterprise resource planning or ERP comes to rescue business leaders to save their time and to maximize their productivity. All different business operations are integrated with one software and the operations are managed and supervised with much more ease and efficiency.

Business Functions Without ERP Implementation

In the above-mentioned paragraphs, we have discussed the definition of enterprise resource planning. Without ERP implementation successful business operations seem impossible because looking after each department separately needs a lot of time and effort.

If we take the example of a purchasing department that is responsible for the purchase of quality raw material to be used in finished products, we see that the department has to deal with the inventory department before ordering the purchase. In a similar vein, it has to determine as to which one is the best producer of its desired products, negotiating the least possible price with the maximum quality assurance is another task of the department. After the deal is okayed by the departmental head, the purchase manager has to outsource the labor for loading and unloading of the goods.

This was the case of only one department. Now think for a while there are plenty of departments and an entrepreneur has to manage each of them by himself. Enterprise resource planning integrates the functions of all the departments and the entrepreneur or business head can manage and take quality action without indulging in any laborious tasks.

Basics of Tally ERP

Tally ERP is the software used for accounting purposes by small and medium-sized business enterprises. In Tally ERP all accounting tasks are grouped for ease of understanding, managing, and taking policy actions.

Be it invoicing, bookkeeping, recording various accounting transactions, account receivables, account payables, payroll management and, releasing funds for system gradations or renovation, all tasks are unified by using one single software.

Benefits of Tally ERP Implementation

Tally ERP implementation is a blessing in disguise for corporate people. It has become so widely used that without its implementation, managing a business successfully seems beyond human control.

Benefits of Tally ERP implementation | SAP vs Tally | Tally Prime Vs Tally ERP | ERP Consultants | Smart CA

There are several benefits of Tally's ERP implementation. Let's discuss a few one by one.

1. Cost-effective

Tally ERP implementation is cost-effective in a way that it saves extra spending for multiple software acquisitions. A business can not afford to have heavy spending just for managing its day-to-day operations. Capital generation and fast business growth is the ultimate goal of many of the entrepreneurs.

Spending lavishly on costly software is a stumbling block for achieving capital generation targets. Tally ERP blocks capital outflow and retains it for more productive targets designed for business continuity. Hence, Tally ERP is the best for any size of the business, small or large.

2. Time-saving

Time is more than money for shrewd entrepreneurs. No one wants to engage in any unproductive work that may cost them a huge financial loss in the foreseeable future.

Business leaders, undoubtedly possess unmatched business acumen, they can never afford to spend their precious time on managing or supervising the accounting of their enterprises. Rather they use their time for long-term policy planning and execution.

Tally ERP is designed by keeping this aspect in view. The hassle-free accounting software is a time-saving device for entrepreneurs.

3. Easy to use

Learning operations of a business department is a Herculean task for most people. Heavy and complicated software makes the situation even worse owing to their technicalities.

Tally ERP is very easy to understand and easy-to-use software. Managers need no extra effort to learn it, they simply need to understand its core functions and the job is done.

4. Transparency

Chances of errors and omissions increase by using outdated bookkeeping and recording methods. To err is humane, but errors in business and particularly in accounting have the potential to bankrupt a relatively successful business. Tally ERP implementation makes the errors the impossibility because everything is crystal clear, there are no chances of any omission due to its automated task features.

5. Ease of access

All team members of the business can access data from anywhere because of its single server usage. All tasks are easily managed, coordinated, and cooperated without any hassle. Ease of access makes Tally ERP Implementation an ideal software for accountants and business managers alike.

Customized ERP and Its Importance

Tally ERP is widely used in India but every business operating in the country has some specific needs and requirements. If one business uses one system for its functions, the other will use another type of system. It also goes true for specific software. Each software designed for business purposes has some key built-in features for easy execution of different tasks.

Tally ERP can be customized keeping in view the suitability of the organization concerned. The software can further be improved for achieving higher levels of efficiency and productivity.

Advantages of Customized Tally ERP

There are various advantages of customized Tally ERP.

Customized Dashboard

Tally ERP 9 comes with a more advanced function of customizing the dashboard for owners. The owner's dashboard can provide complete business data with a hundred percent accuracy.

All different data like income statements, balance sheets, trial balances, and other ledgers can be viewed on one single screen by customizing the dashboard. Top performing products or units, pending inventory of raw or finished goods, sales of different periods of the year, not performing, and even ready-to-ship items can be viewed with a single click.

Value of current assets, incurred or accrued expenses, and detailed report of stock investment, capital, and other investments are presented on the owner's customized dashboard.

Tally ERP is undoubtedly an ideal software for bookkeepers, cashiers, and accountants. Its easy-to-use functionality, time-saving characteristics, and cost-effective usage make it the number one choice of small and medium-sized businesses all over India.

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