Technology solutions play an important role in facilitating the smooth operations in modern-day businesses. There are many IT solutions that have been developed and tailored to help businesses achieve their bottom line. Two such solutions are:
- Enterprise Resource Planning (ERP) software
- Point of Sale (POS) system
ERP software is a business process management software, meaning that it is tailored to help business owners to manage and automate most of their back-office functions, especially those that are tied to services, technology, and human resources. A POS system is used to manage business transactions. Traditionally, these two solutions were used as standalone solutions. Innovations in the technology space have made it possible for the integration of these two solutions.
Key Benefits of Implementing ERP and POS Integration
- Data integrity – Data used in one system can easily be used in the other, thereby helping you to determine whether the data used is reliable or not.
- Maintenance of ledger balance – When you use an integrated system, you will be able to identify ledger balances and determine the cash flow for your business with ease.
- Reduction in risk – When you integrate your ERP software with a POS system, you can ensure that your data is secured, and this ensures that the data keyed into the two systems is accurate, thereby reducing any chances of mismatch of data in the two systems.
- Forecasting – ERP and POS integration will enable you to get an overall visibility of your business since you will be able to determine the sales, stock, and revenue levels; and with these, you can accurately forecast your inventory and stock up before you run out of stock.
Types of ERP and POS Integration You Can Choose for Your Business
Here are two main ERP and POS Integration
- Real-time integration – This type of integration will allow you access to the system so that you can read the data directly.
- Scheduler Base Integration – Data is first stored in readable formats such as text or Excel, then you can schedule the system to generate entries from the files at a specific time.
If you need ERP and technology solutions for your business, look no further than Michell Consulting Group. We can help you leverage the benefits of using ERP software in your business. Contact us today and let us discuss how we can partner for the benefit of your business.