Understanding about FactsERP & FactsSHARP

Answers for the questions to come…

ERP Systems Overview

• Introduction to ERP

• Create value through integrating activities across organization

• Implementation of best practices

• Standardization of processes

• One-source data

• On-line access to information

Benefits of ERP

• Increases speed of information flows

• Create value through integration of activities

• Best practices improve operations

• Standardization increases efficiency

• One-source data more accurate, easier to access

• Better organizational planning

• Better communication

• More collaboration

Why ERP?

• Technical

• Integration of computer systems foster consistency, efficiency

• Financial

• Integrating applications saves money

• Organizational

• All members of organization use same system

My Conception vs. Reality

• Integrated System

• In fact, vendors usually sell modules

• I Would like to sell full system or rather sell concept

• Buyers reduce cost, risk, by starting smaller scale

• Risk of converting entire system

• Complex cost impact

Best Practices

• Firm’s vary in what is best for them

• Business world dynamic

• Rigid approach has dangers

• A firm who develops a competitive advantage, they

give it up by adopting “best practices”

ERP Supported Functions

Financial Human Res Operations Sales & Mkt Trade & Logistics

Accounts

receivable

Time accounting Inventory Orders Procurement (Purchase Cycle)

Asset account Payroll MRP Pricing Order Processing (Sales Cycle)

Cash forecast Personnel plan Prod planning Sales Mgt Retail

Cost accounting Travel expense Project Mgmt Sales plan MIS & Reporting

Exec Info Sys HR Purchasing Inventory Management

Financial consol Quality Mgmt Job Costing

General ledger Shipping Accommodation Management

Profit analysis Vendor evaluation Loan Management

Standard costing Trade & Logistics Asset Management

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