The business environment is changing, continuously evolving with advanced technologies in place and businesses getting digitized with digital transformation.
With changing business practices, organizations too are adopting an innovative way of doing business.
ERP refers to Enterprise Resource Planning, a business management software that collects, stores, manages, interprets data from business activities, enforces processes, enables control mechanisms, and automates a wide range of activities.
A few decades ago, ERP came into place in the business industry to help businesses streamline their business processes.
Since then, most business organizations have adopted ERP solutions to serve their business, while most organizations are still susceptible to investing in ERP solutions.
ERP has been there for a long time, but most businesses shied away from investing in ERP solutions due to the traditional ways of catering to their needs.
However, with the surge in digital transformation and the evolved digitized way of doing business, ERP, too, has gained traction more than ever.
According to recent research, the value of the ERP market will reach USD 90 Billion by 2025. This high figure market value attributes to the rise in digitized business practices and the prevalence of cloud-based ERP.
ERRP acts as a single source of data for information needed for several business processes. A single source of information improves the product development cycles, thereby increasing an organization’s overall market share.
With the maximum data getting leveraged through cloud-based ERP’s, businesses become more resilient in making business decisions and forming business strategies more effectively.
Organizations dealing with multiple business practices find it difficult to manage business practices effectively.
With ERP, the businesses get streamlined, which further helps companies take control of their business practices more efficiently and effectively.
Observing the digital transformation and the rising needs of businesses to streamline their business practices, Fox ERP provides ERP solutions that cost-effectively enhance business practices.
Fox ERP comes with all standard modules such as Accounting, CRM, Selling & Invoicing, Buying, HR& Payroll.
It also provides domain-specific features for the Manufacturing, Distribution, Retail, Service, Agriculture, Education, and Healthcare industries.
Making the business processes easier, Fox ERP performs various business functions that enable an organization to focus on its product, and business processes are taken care by Fox ERP.
Fox ERP performs the following business functions:
One of the tedious processes that businesses face is tracking their invoices and payments, chasing the customers, and keeping track of the status of payments made and payments due. However, Fox ERP makes this entire process relatively smoother with its automated process of tracking invoices and payments.
FOX ERP’s multiple payment terms, such as Post-delivery, Partial advance, 100% advance, make the entire process relatively smooth.
An invoice gets generated automatically, and order flow gets managed as per the payment terms for the customer.
For example, the invoice gets generated for an order based on advance payment, and shipment is not allowed until payment is received.
Also, a supplier invoice record gets generated, which you can use later to make payments to the supplier.
Whatever is an organization’s business, identifying and tracking key performance indicators (KPIs) becomes of utmost importance.
Fox ERP helps users automatically identify and track their business’s major KPIs regularly to increase productivity and reduce costs.
Exceeding customers’ experience is a major goal of an organization.
Identifying and resolving customers’ queries plays a vital role in making businesses flourish in the longer run.
Fox ERP enables users to identify customers’ queries.
It assigns a unique ID to every customer, which helps them track and resolve their queries instantly, leading to customers’ delight.
Getting things done leads to a profitable business.
Fox ERP enables organizations to assign tasks according to their project’s needs and follows them.
For example: With Fox ERP, users can perform various functions such as adding the project’s status, linking a particular task to the project, and subdividing the task into multiple tasks, among others.
It also gives users the liberty to make a change in the task whenever needed, defining the task’s priority, such as Low, Medium, High or Urgent, entering the progress percentage of the task.
Improper budget allocation and unnecessary costs incur considerable costs to an organization.
Fox ERP enables users to set and manage a budget against the project’s cost, thereby helping users control their expenses.
For example, while making online sales, users can set a budget for search advertisements and configure Fox ERP to stop or warn you from overspending beyond a set budget.
Having a database maintaining details of all customers, suppliers, and contacts keeps every stakeholder abreast of their business goals.
With Fox ERP, the users can maintain the entire database of all their customers, suppliers, and contracts.
It includes essential information such as customer’s details, requests for quotation, supplier quotation, purchase receipt, purchase invoice, which act as a database containing end-to-end information.
Fluctuations in selling prices create confusion in the business.
Fox ERP enables users to define a selling price based on the actual material sourced, machinery and equipment required, and effort cost made.
Users can do this by logging the selling and buying rate of an item in the record.
It also gives them the liberty to track the selling and buying price of an item separately.
Remainders to maintain schedule and leverage activities plays a vital role in maintaining the efficiencies in the business processes.
With Fox ERP, users can plan activities to maintain the machines by creating a maintenance schedule.
This tool is beneficial for organizations that are in the business of machines that require regular maintenance.
Fox ERP enables users to publish a website for their business.
It aids in creating static content such as users’ Home Page, About Us, Contact Us, Terms pages using the Web Page.
With Industry 4.0 in place, the digital transformation forms the core to the future of business practices.
Along with the digitized business practices, having an ERP adds to the efficiency of business processes.
Fox ERP is not only an ERP software but a way forward that makes businesses not only sustain in the short run but flourish in the long run as well.
The world has changed, and so have the ways of doing business. Since the emergence of the COVID-19 pandemic, we have seen an unprecedented shift in how organizations carry out their business processes.
It’s a world of emerging technologies, and organizations across industries are adopting them quickly. Supply chain operations, too, hold a significant share among organizations and businesses utilizing such technologies for their operations.
The times have changed, organizations have transformed their ways of doing business, and companies are shifting to an all-new digitized way of doing business.