ERP System in Gracious Industries

ERP system in Gracious Industries
Contents

Introduction......................................................................................................................................2
Key business processes....................................................................................................................2
Sales system.....................................................................................................................................2
Control Risks...................................................................................................................................4
Features and Functionality of ERP system......................................................................................4
ERP vendors and their products......................................................................................................7
Vendor selection..............................................................................................................................9
Contrast and compare of two ERP software....................................................................................9
ERP System selection for business..................................................................................................9
Conclusion.....................................................................................................................................10
Reference.......................................................................................................................................12

Introduction
In the corporate world, Enterprise resource planning is the need of every business it helps in
giving the various competitive advantages to the company. Tt helps in effectively allocating,
storing, processing data and moving the information and data of the organization. In this report
the analysis of gracious industries will be done for implementing the ERP system. They had
earned approx. $10.5 million dollars till last year. Recently they had faced the issue in business
and the account data which is crucial for setting the competitive prices of the products. The
organization is striving to achieve the goals of management by improving their way of processes.
In this report, the key business processes of the Gracious Industries will be discussed for
implementing the ERP system and main processes of the company are sales, finance, accounting
and supply chain management. In order to fulfill the requirements of the business and achieve the
objectives of business, implementation of ERP system will help the company. the various
features of the ERP system will be discussed which will help the company in running and
improving the process. The analysis of best ERP system provider will be discussed. the functions
and features of two ERP software packages will be compared and contrast which are provided by
the vendors. The best ERP system provider will be analyzed.
Key business processes
Gracious industries require the information system for managing and interpreting the information
and data of the organization. In order to record the information and data of different business
units, the company requires the single processing system which will help in integrating and
analyzing the information in an effective manner. Gracious industries provide electronic parts to
stores and supermarkets. The business functions of the company are managed manually and for
the competitive advantage in the market, company requires the automated system (Umble, et al.,
2013). Gracious industries include the various processes in which the information system can be
implemented for the automation. In order to record the information and supply the products to
different customers, the information system helps in managing the business effectively.

Sales system
The different business units require the system for different purposes. In sales requires the
business system for fulfilling the requirements of the customers, developing the products and
services to meet the needs, promoting and selling the products, taking the orders for customers,
contacting customers and providing the efficient support to the customer for solving their issues
and fulfilling their requirements (Skok and Legge, 2002). When the sales are managed through
the traditional method it is very difficult to manage the customers and recording the information
as gracious industries deal in electronic parts and supplies the parts to different stores and
hypermarkets as per the requirements of customers. in order to manage the activities of sales
department, business requires the effective implementation of system for achieving the
objectives of the company. it helps in identifying the demand and sales of the products and helps
in checking the record of stocks which are available and required parts for further purchasing.
With the help of sales system, it helps in managing the suppliers and purchasers of the company.
Accounting system
The gracious industries have lost the various accounting details which are crucial for the
company in setting the competitive prices of the products. Systems in accounting business units
are required for the collection, storing and processing the financial and accounting information
for making the effective decisions of the company. the accounting information of the company is
used by the investors, creditors and tax authorities. In business process of accounting and
finance, the systems are designed for supporting all the functions and activities of the business
like financial accounting, audit, preparing reports, managerial accounting and taxations. The
financial system helps in managing the various costs of the company. it helps in managing the
employee's salary, payment, receivables, analyzing the supplier's information. Financing and
accounting system helps in making effective decisions by the management. Systems help in
making effective financial decisions for the future (Shang and Seddon, 2000). The accounting
system helps in recording and bookkeeping the transactions of the business and the automation
of accounting activities helps in reducing the errors and work pressure for employees in finance
department.
Inventory system