What Is IBS (Integrated Business Suite) ?
Integrated Business Suite (IBS) is an ERP software that works to integrate all the core requirements that are essential to run the companies such as finance, HR, manufacturing, services, supply chain, procurement, etc. into one unified and complete system for smooth flow of the processes and information across the entire organization.
How IBS (Integrated Business Suite) Works?
Business expectations and customer’s demands are growing in today’s technological era. The one thing that remains constant is the employees of the organizations and they are the key to continued success. Therefore, ERP is the right tool that frees the employees to excel for themselves and also for the organizations to achieve its goals.
ERP system provides a room for the organizations to liberate their employees to be more productive, more creative, get engaged in more areas, and produce more efficient results. It improves organization’s efficiency by its automated processes, attaining accuracy, consistency, and compliance. With the help of new technologies and smarter data handling offers various paths to solve the complex problems and allows real-time insights of business to make better plans and decisions.
Integrated Application
Why IBS Is Important For Growth?
- Processes sales order like creating quotes, orders, and invoices
- Stock automation replaces manual stock take
- Job allocation and resource planning (automatically all the projects can be processed)
- Resolving financial reports like payments notification with due invoice details
- Reporting and analyzing the vital information
- Advanced reporting and analysis improves the company’s insight
- Increases productivity by saving time from data input
- Fewer errors, more efficiency
- Better information management
- Better communication, higher productivity
- Reduces administrative overheads by activating the mundane projects
- Increases operational flexibility
- Reduces operational costs
- Makes accurate forecasts
Benefits Of IBS ERP
RESULTS IN HIGHER PRODUCTIVITY
The business processes can be updated and systemized in a way to help working people
in the organization to be more productive with fewer resources.
IMPROVES INSIGHTS
Remove information isolation, gain a single source of truth, and get quick replies to mission
critical questions related to business.
SOCIAL MEDIA INTEGRATION
There is always a risk when ordering online, especially when purchasing products that come
in different sizes. CloudStore.Live provides user friendly Return & Exchange process.
ACCELERATED REPORTING
There is always a risk when ordering online, especially when purchasing products that
come in different sizes. CloudStore.Live provides user friendly Return & Exchange process.
LOWERS RISK
Easily predicts and prevents risk if any, thus resulting in maximizing the control and vision
of the business, and ensures compliance with regulatory requirements.
SIMPLIFY IT
It’s a way to simplify IT by using integrated ERP applications that shares a database and
makes it easier for everyone to work.
SECURITY FEATURES
CloudStore.Live supports HTTPS and SSL, which allows secure
payment and checkout.
IMPROVES AGILITY
It makes it possible to react to new opportunities and identify them with efficient operations
and ready access to real time data.
FOCUS ON COSTS
Instead of spending resource on multiple systems, it can unify IT costs and additionally improves
efficiency.
DATA RELIABILITY
When implemented in the cloud, ERP provides reliable data which can be accessed from various
locations through multiple devices including smartphones and tablets.
When do you need an IBS (Integrated Business Suite) ERP system?
DAILY ACTIVITY TAKES LONGER TIME
When it takes a longer time managing key activities like closing the books because of
too many disparate applications, it is the right time to turn to ERP. With a common interface, ERP
software can integrate data and solutions into a single system. This act allows business units to
communicate and work effectively and with ease.
MANY BUSINESS QUESTIONS ARE ANSWERED
It’s a difficult task to keep track of important questions without proper records.
For example, revenues per product line, lucrative items, which customers generating more income, etc.
To get quick replies on each query, ERP is the software designed accordingly to address such challenges
anytime.
MISSING FAST-MOVING OPPORTUNITIES
Spending excessive time on business and still failing to get maximum productive results to
need to be focused. ERP system includes advanced and intelligent capabilities like predicting analysis and
machine learning which are helpful in identifying and capitalizing on new ventures.
CUSTOMER COMPLAINTS
When you get an unusual rise in customer complaints about various reasons like shortage
in-stock supply, delay in supplying, charged wrongly for materials, etc. then ERP software is the right
solution to avoid customer complaints. It keeps minute information about the customer like when the
products are sold, delivery time, payment paid or due, etc.
STAFF IS NOT BEING PRODUCTIVE
Many manual processes, require repeated checks on stock display and availability, failing
to track customers’ orders properly, etc. This alarms a call for an efficient system, i.e. ERP software.
It can increase productivity by providing consistent information about sales, order, and inventory.
WORKING CAPITAL MARKED HIGH
ERP system has proved over time to reduce working capital and allow the business to run
more profitably.
REPLACE MANUAL PROCESSES CONSISTING OF MULTIPLE DATA SETS
If your business entries are worked manually, chances are that you are spending long hours
on duplicate data entry. Without good software, the information can’t flow properly between systems,
reporting takes time, chances of error are regular, and decision making is hampered.
OPERATIONAL AND SALES FIGURES UNMATCHED
It is a hard task to check and reconcile the numbers between sales and stocks, manually.
Huge possibilities are there for unmatched figures of sales and stocks. Operation and sales keep blaming
each other for unavailable timely information. This gives a reason for companies to implement an ERP system.
IBS Modules
VGIPL is providing traditional solutions and cloud-based ERP solutions. The implementation platforms or technologies may vary from vendor to vendor, but there are some basic and common modules of ERP which can be found in any ERP system. Generally, ERP system for any organization is integrated and customized depending on the required components by the organization. Below listed are the common ERP modules which can be found in an ERP system:
INVENTORY MODULE
There is huge stock in the manufacturing organizations and Inventory module is useful
to track the heavy stock of items. Serial numbers are used to identify the item and these numbers
inventory system can keep track of and use it in tracing current location of items in the
organization. Various functionalities of the Inventory module are Inventory control, stock
utilization reporting, master units, etc. It is feasible that there may be an integration
of the inventory module with the purchase module of ERP. Sales module can be helpful in the
future for CRM module for future opportunity creation & lead generation.
PURCHASE MODULE
It plays a role in tracking all the processes that are the part of the procurement of
raw materials required by the organization for manufacturing section. It consists of various
functionalities like merchant and supplier listing, supplier & item linking, sending quotations
to merchants, receiving and recording the quotations, making purchase orders and keeping track of
it, analyzing quotations and preparing purchase orders accordingly, keeping record of the purchase
items, updating stocks, preparing Good receipt Notes, and many such records related to purchase.
Purchase module is integrated with the Inventory module and production module for updating of
stocks.
FINANCE RESOURCE MANAGEMENT
Finance module manages the complete inflow and outflow of cash. It keeps track of cash
transactions like expenses, balance sheet, ledgers, budget, statements from the bank, tax management,
payment receipts, etc. With the help of the Finance & Accounting module, the financial data of any
running business is easily available within minutes.
CUSTOMER RELATIONSHIP MANAGEMENT(CRM)
Establishing a healthy relationship with customers and providing better customer service
are different ways in which CRM module helps in boosting sales performance. CRM module stores all the
customer’s details. It also manages and tracks customers’ details like communication history,
meetings, calls, purchase details, contract duration, etc. It can also be integrated with the
Sales module to increase the sales opportunities.
MANUFACTURING RESOURCE PLANNING
It is the most essential module providing huge help to the manufacturing industry
for delivering the products. It includes the various functionalities like raw material usage,
production planning, and machine scheduling, daily tracking of production progress and actual
production reporting.
SUPPLY CHAIN MANAGEMENT (SCM)
It is essential to manage the product items flow from manufacturer to consumer & from
consumer to manufacturer. This can be efficiently done with SCM module. Manufacturer, Stockiest,
distributors, retailers, etc. all play common roles in the CSM module. It also involves sales
returns & replacing process, demand & supply management, shipping & transportation tracking etc.
HUMAN RESOURCE MODULE
HR module is helpful for the HR team to manage human resources efficiently.
This module works to manage pieces of information about employees, records employee’s performance
reviews, description, job designation, job description, attendance, and skill matrix. Payroll
system is the important sub-module in the HR module which is important in managing salaries,
payment reports, and other related works. In addition to it, travel expenses and reimbursement
tracking is also managed by an ERP system in the HR module.
PROJECT MANAGEMENT
With ERP project management module, it becomes easier and faster for managers to track
all projects related activities. It allows monitoring resource allocation and adjusts the workflow
pace to attain the maximum productivity. Easy access to information allows team members to view and
scale the project status and make the corrections if required. This helps to deliver the projects
on time and build a good reputation among clients.