Enterprise Planning Resource System for Gracious Industries

REPORT ON ENTERPRISE PLANNING RESOURCE SYSTEM
FOR GRACIOUS INDUSTRIES
Name of the Student
Name of the University
Author note
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Executive Summary
The study would assess a private sector gracious industry (PGI) company resource planning
(ERP) scheme. The sector needs software to store and collect data so that it can easily maintain
its daily procedures and thus resist competition on the market. The sector needs to do this. You
thought that you had to invest in software that could bring your company to the next level. The
report is prepared so as to include the company's business procedures, significant monitoring
hazards, ERP description and comparative characteristics and functions of several ERP suppliers.
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Table of contents
Table of contents..............................................................................................................................3
Introduction......................................................................................................................................4
Business Processes.......................................................................................................................4
Major Control Risks for the Business Processes.........................................................................5
System Requirements......................................................................................................................6
Features of Cloud-Based ERP Systems.......................................................................................7
Functionalities of Cloud-Based ERP System..............................................................................8
Advantages of Using Cloud-based ERP systems........................................................................9
Challenges of Using Cloud-based ERP system...........................................................................9
Three Cloud-based ERP Vendors and Their Products..................................................................10
1. Oracle ERP cloud...............................................................................................................10
2. SAP ERP.............................................................................................................................10
3. Sage Intacct.........................................................................................................................11
Comparison of the features and functionality of Oracle ERP cloud and Sage Intacct..................11
Choice of ERP Software Package..................................................................................................12
Conclusion.....................................................................................................................................12
References..................................................................................................................................13
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Introduction
ERP systems are used for many years, but with cloud-based ERP systems they have
gained popularity. In order to improve efficiency, increasing number of businesses started
implementing cloud-based ERP systems. Here we will discuss graceful electronics, company
requirements in company procedures and significant control hazards. System requirements were
recognized by discussing characteristics and characteristics to be considered before the first ERP
system has been put into effect. Three top ERP suppliers that offer cloud-based ERP systems
were recognized and their product was noted. The most cost-efficient and efficient software for
good electronics is used to compare characteristics. Business Requirements
In order to operate the company efficiently on the market and to resist the current competition, a
gracious industry has to define its company procedures as well as significant business control
hazards.
Business Processes
The business process for a company is described as a set of chained duties or operations
which lead to a product or service being delivered. Upon completion of these duties and
activities, they assist an organisation in its duties.
Business procedures can be described for graceful sectors as:
1. Product development: This method includes product planning and design as outlined in Baxter
(2018). This is the basis for the whole chain until the item or services have been delivered. This
method will assist graceful companies to maximize the client value, particularly through their
fresh green products. The key to product development is to transform an concept into a product.
The requirements for research and development are translated into production demands at this
point.
2. Accounting management: The accounts of the company must be administered very carefully.
All legal compliance and reporting of budgets, cash flow statements and balance sheets must be
met. It is essential. In this phase, there is no possibility of an mistake. Even a smaller error could
cause the business to lose enormously. Before making any choice to the advantage of the
business, contingent logic shall be established.
3. Procurement: The demands for production are converted into supplier demands in this phase.
Not only does it involve the purchase but also the selection of suppliers, cost negotiation and
payment conditions. This method allows us to search for the most efficient possibilities. This
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