What is an ERP (Jewellery ERP Software)?
The term “enterprise resource planning” (ERP) refers to a class of software that businesses use to oversee routine operations like accounting, purchasing, project management, risk management, and compliance.
Enterprise performance management, a programme that aids in budgeting, forecasting, and reporting financial results for an organisation, is also a component of a full ERP suite.
Why does a jewellery business need an ERP Software?
It is simple, quick, accurate, and efficient to control and manage a jewellery business with a jewellery ERP software. Since everything is now being rewritten by apps in our ever-evolving world. Jewelry creation, inventory, and financial management are all handled by a software.
Retailers, wholesalers, and producers of jewellery can use their software’s to manage their system. Jewelry companies may manage all of their data under one roof by using a software. They may easily manage and synchronise their transactions at the same time.
How does an ERP software help in the jewellery industry?
Easy maintenance of data:
the data of your business is maintained and organised in such way that it becomes easier for you to manage the data and know the whereabouts.
Stock management:
a software will be well aware of the inventory. You need not maintain logs to keep in check for your stocks. A software will update itself accordingly with transaction of the jewellery so you don’t have to worry about managing a stock check.
Manufacturing and production:
a jewellery software will maintain record of what has been produced by you and what has been taken from the karigar. When a new jewellery is added in the store a unique barcode is provided for it and is updated in the software, so you would know the transaction made in the business.
Billing:
having a software in your business makes the billing process much easier, you can connect the customer’s social media handle with the billing software so a bill will be directly provided on their phone without harming their personal details. You can also generate bill through phones with the help of mobile application of such software.
Process management:
you can keep in check of the jewellery making process through the software. The software will remind you tie to time about the jewellery given to the karigar and when you have to pick up the new jewellery.
Graphical reports:
these software’s provide the graphical reports of the stocks in your inventory and also make reports of your transaction. Reports can be fetched to estimate the total loss and profit in the business. You can generate monthly or annual reports as per you requirement.
Distinguished software:
you can have a software required for your business. If you run a retail business you can install a retail jewellery software which would cover all your needs. There are similarly many such software for wholesale or stone and diamond industry.
The jewellery sector differs greatly from other small and large-scale firms. This is mostly due to the fact that it includes daily changing market rate-based price values. Because the market price of raw materials is likely to rise over time, it therefore causes problems with the sales order and the time of delivery.
In order for a jewellery business to gain in the long run, it is essential to buy a sizable quantity of inventory when prices are affordable. However, this cannot be obtained using those outdated Excel spreadsheets. Your best option is an automotive system, which provides warnings when the market rates are viable and when the payment is due.
Jewellery ERP systems assist you in smoothly managing all of your little and large transactions. It provides feasibility and operational effectiveness, which aid in increasing your revenue.
What are the benefits of installing a jewellery ERP software?
- Easy to navigate: a jewellery software makes it easier for you navigate through your business. You could analyse the pros and cons for the business.
- User-friendly system: a software would basically follow all your command without any hesitation. Which would reduce so much of manual help. You would achieve an obedient accurate worker for you with a onetime investment.
- Easy to retrieve data: a software makes it so much easier to retrieve data. You don’t have to run through pages to find information about a jewellery or a customer. You can get the data on your fingertips quickly with not much of trouble.
- Saves time: a software saves a lot of time in many ways. Storing of data, billing, maintaining of transaction etc.
- Enhanced reporting: you can get customised reports based on your desire and requirement. Reports which are easy to analyse and understand.
- Data tracking and strategic management: you can track all your transaction. Making process etc., through software.
It might take a lot of time to market different divisions of your company, like CRM, Inventory, Sales, Accounting, Assets, Payroll, Manufacturing, and more. You must have an ERP system at the heart of your company to ensure that every process is handled efficiently and smoothly.
Things to consider before investing in an ERP software:
Make a list of the characteristics you need.
Make a list of features using the categories “what would be more beneficial” and “Must Have,” respectively. Add features that an ERP system must have to assist you in resolving or accelerating business processes to the “must-have” category. On the other hand, add things to your “good to have” category that could make your tasks much easier but that you could still live without.
Verify if it is unique to the jewellery industry:
Different business systems and processes exist in many industries. Software utilised in the auto industry, for example, won’t work for your jewellery shop. The biggest drawback of using generic ERP systems is that you can no longer customise them to meet your own business needs. Normal management systems are ideal for large firms with standardised processes (which are essentially the same for most sectors), but using them for businesses that are industry-specific is not a sensible choice.
Conclusion:
There are several application software that claim to be jewellery-specific, so be sure the one you choose is indeed jewellery-specific, adaptable enough to handle little modifications, and updated frequently. To end your search for such an ERP software we introduce you the SwarnApp, which solves all you jewellery business related problems. SwarnApp, is a jewellery ERP system available for reasonably priced for midsize and small businesses and can be helpful in the right situations. You should, however, make sure that whatever system you choose for your business can adapt to changes as your business grows and changes.