The trading and distribution industry is extremely fast paced. It requires specialised ERP software functionalities in critical areas that are usually not present in prebuilt enterprise, or retail ERP solutions. With newer cloud ERP software, trading and distribution businesses need not deploy run-of-the-mill ERP software that does not cater to the unique needs of this dynamic industry.
Here 4 critical aspects of a trading and distribution ERP suite:
Systematic sales performance
As you focus on expanding your trading and distribution operations across global markets, you need an ERP software that is flexible enough to unite manifold sales transactions and deliver customer satisfaction. By deploying a trading and distribution ERP software, you can configure and perform multiple types of sales transactions with monitored workflows and automated approvals.
Unparalleled procurement functionalities
Trading and distribution ERP software enhances your businesses’ strategic sourcing capabilities by helping you collaborate with your suppliers on the go for minimum lead times and costs. The software brings about end-to-end procurement processing – from requisition to goods receipt. Furthermore, some trading and distribution ERP software facilitate a swift flow of information to suppliers through supplier self-service portals.
Also Read: Why opt for an ERP software for a trading and distribution business?
Advanced inventory management
Trading and distribution ERP solutions help you track your stock availability by clearly displaying consumption pattern. By providing complete visibility across your warehouses in multiple geographies, trading and distribution ERP software helps you gain insights into performing and non-performing stock assets.
Easy financial processing
A trading and distribution ERP software offers automated invoice generation once sales and purchase order are confirmed with reconciliation of bills and payments. A single software supports multiple companies or multiple accounts and can handle full and partial payments. Complete with features like multiple languages and multiple currencies, trading and distribution ERP software are built to meet the needs of businesses spread across geographies.
When a trading and distribution business deploys a specialised ERP software a unified accounting, inventory, sales, and procurement ERP system comes into play. An all-in-one solution allows you to gain control and provides insight into all orders coming from multiple channels. This eliminates the need to seek information from multiple systems when managing orders, and ensures you always have relevant information.