What is Automotive ERP?
The Automotive business multiple processes like sales, procurement, purchase, service, delivery, etc. All of these processes are essential for companies and therefore, need a solution that can help the companies streamline and look at all the processes as an independent system. Enterprise Resource Planning frameworks can effectively help accomplish this objective and reshape significantly organizational progress.
Automotive business Statistics:
The automotive market was on an upward trajectory during 2018 and had just entered a phase of stagnation in 2019 before the coronavirus crisis strikes the world. Between March & May 2020, global automotive sales contracted by around 15 percent globally. China was the first market to recover from the crisis, with automobile sales at pre-pandemic levels throughout the months following the pandemic. It is expected that trends such as electric vehicles and autonomous driving will continue to fuel the market, therefore there will be an overall recovery in the coming quarters.
It is expected that the global automotive industry will grow to just under nine trillion U.S. dollars by the end of 2030. It is anticipated that new vehicle sales will accomplish about 38 percent of this value.
The Need for ERP in Automotive Industry:
With ERP solutions implemented into business process the difficulties in overcoming unavoidable challenges like labor efficiency measurement, marketing plans, inventory management and delivery management, vendor and high-quality customer service are completely neglected. ERP solutions provide organizations with a far-reaching set of elements that helps in tracking and analysis of policy making, rolling out sensible improvements and efficient control on departmental work.
- Automotive maintenance
- Electronic documentation
- Financial management system
- HR management
- Integration with communication channels
- Inventory management
- Order management system
- Service management
- Sales management
4S Plus Automotive ERP Benefits for Automotive Industry
- Accelerate your purchase process: ERP software system leverages you to accelerate your business purchase process from quotations to invoicing, payments, returns and receipts.
- Simplify your order to cash process: Collaboration of your sales, finance and delivery teams to improve quote accuracy strengthen revenue and eliminate billing errors.
- satisfy your customers: Understand your customer’s interests and concerns by capturing customer related data in a central database.
- Manage suppliers easily: Track orders, deliveries, your buyer workloads and subcontracted orders through a significant management of approval processes from order to receipt.
- Manage your accounts: Replace manual journal entries with a smart accounting system that effortlessly manage your accounts through a flexible and comprehensive chart of accounts.
- Inventory optimization: Anticipate demand and receive order alerts for inventory shortage and overstocks beforehand. manage and automate all stock operations to enable stakeholders get the right product dynamically.
- Track movement history: Obtain complete history of all inventory movement to track problems through customizable reports for monitoring and management of the overall inventory cycle for your organization. Get a view of integrated operations of your organization.
- Enhance the product life cycle: Get detailed product data with quick inventory valuations to maintain the best product renewal cycle.
- Item management: Maintain a central database of all inventory items across chain of stores. This feature enables you to create a product catalog to manage a storehouse for each product offered across multiple stores and stock consumption and service offering processes.
- Financial data at your fingertips: A real-time view of your finances increase your profitability and leverages your managers to make quick decisions. Say bye to fallible data entry and the inadequacy of spreadsheet reports.
In 2008 a study published by CIO Magazine showed that over 85 percent of respondents strongly agreed that ERP solutions formed interim part of their organization operations and that “Business couldn’t survive without ERP.” Today, about 14 years after the fact, this study results remains the same. We live in a world where technology has the power to provide a competitive advantage to all kinds of organizations from any type of industry including automotive.
4S Plus Automotive ERP is designed to reduce incompetence and boost your organizational productivity. Our Automotive ERP software is easy to learn, scalable and requires low maintenance.
Contact us now to know how can we help you to lead your automotive business into digitalization.