Tips Before you Implement ERP System Software in Oman

Tally Solutions | Updated on: February 8, 2022

• What is ERP software
• What features do we need to consider in the best ERP software
• Why businesses in Oman require ERP Software
• How Tally ERP system software helps businesses in Oman
• How to implement ERP system
• Conclusion

Companies and businesses are growing in scale and complexity in response to the business climate. When the supporting software systems do not support the expanding businesses, it creates difficulties in managing the scale of the company’s functions.ERP or Enterprise Resource Planning is the type of software that is used to manage the many functions of a company. This is why every business needs a reliable ERP system to make work easier and to enable more intelligent sharing of data between processes.

What is ERP software

ERP or Enterprise Resource Planning is a system that manages and connects all the different business processes in a company seamlessly and allows optimal data flow between them. Every organisation has different teams or departments that work on different functions. There is often an overlap or a data flow between these different functional entities within the company. ERP is the software that gives the company a way to manage and connect all these diverse functions to each other. It enables data sharing without the need for manual data transfer or reentry of data into disconnected systems or software.

• ERP software helps the entire company to function as a whole instead of departments that manually share data.
• ERP enables the automation of routine tasks and optimizes communication of data.
• Since ERP is a single system there is no data duplication or errors of transmission in the data. There is a seamless data flow and data integrity is maintained.

What features do we need to consider in choosing the best ERP software

Choosing the right ERP software is a critical decision. The best ERP software will have the following features that will enhance productivity and efficiency in the company:

• Automation: Good ERP software will automate all the repetitive tasks in the company. This will enhance productivity and free up time for people to focus on more essential tasks. Automation also reduces errors and minimises the time spent on repetitive tasks.
  
  
• Data integration: The best ERP software will have no repetitive data stored in different systems that will have to be manually exported, imported, entered or shared. The best ERP software will have complete seamless integration and data flow between all the modules of the software.
  
  
• Transparency: The easy flow of data in the company also allows for easy tracking of vital parameters. Since every person is allowed access to the data that they require to perform their tasks, it also increases the transparency of data through the company.
  
  
• Analytics and reports: Data is valuable when you analyse and use it to gain insights into the business. Data analysis insights can help the company continually evolve and improve over time. Reports help spot trends and identify what is working and what is not.
  
  
• Complete financial accounting: An excellent ERP system will be able to store and manage financial accounting data from the basics right up to the more advanced features. It should be able to give your accounts payable, general ledger, accounts receivable and other reports. The software should be able to produce monthly and annual statements to help better manage the business. It should also be a complete system for taxation, financial auditing and filing of reports and forms to the relevant authorities.
  
  
• Payroll: Payroll is an integral part of managing a company. An ERP system that manages the different aspects of payroll and that integrates with the financial accounting system is essential
  
  
• Sales: An ERP system that is complete and useful will be able to support the sales functions of the company. The sales department should be able to generate quotes, manage commissions, track profit margins and track customer trends and activity.
  
  
• Security: The best ERP will secure your data from unwelcome access and allow access to employees based on their role in the company.
  
  
• Global business support: The best ERP software will support different currencies and different ways of doing business across the world.

Why businesses in Oman requires ERP software

Your business in Oman could benefit from ERP software in many ways. In addition to automating and integrating all the company functions, ERP software also has these benefits:

• Productivity and efficiency: By providing the right automation tools, ERP greatly improves the productivity of people in the company. By eliminating manual calculations, data entry and outdated software, ERP can also enhance the efficiency of departments.
  
  
• Collaboration and data flow: When there is seamless data flow between departments there are no bottlenecks to productivity and efficiency.
  
  
• Agility: A good ERP system is scalable to different sizes and complexity levels of companies. Instantaneous report generation and analytics also enables quick and informed decision making that makes the company agile in its responses to market changes as well as internal streamlining.
  
  
• VAT compliant: Issuing VAT compliant invoices to filing accurate VAT return
  
  
• Cost saving: Automation by increasing productivity is also a cost saving. An ERP system that grows with you also saves you the cost of reinvesting in bigger or better software systems. You get more ROI and also improve the efficiency of the company.
  
  
• Security: Data security is vital in the business world. ERP keeps your data under secure storage and limits access as per the parameters that you set.
  
  
• Accessibility: The digital way of doing work gives you ultimate flexibility in access. You can share, access and work on your data remotely.
  
  
• Multinational business support: Businesses are growing beyond the borders of Oman. An ERP system makes it easier for you to work with multiple currencies easily.

How TallyPrime system software helps businesses in Oman

TallyPrime is the best ERP system for businesses in Oman. It integrates many features that make it ideal for a business in Oman, such as:

• Tally is the world’s most powerful concurrent Multi-Lingual Integrated Business accounting software. It allows you to create your own names for accounting data and customise masters for flexibility in voucher layout and type
• Tally’s design and layouts are intuitive and very easy to use
• It supports invoices with different currencies
• It is scalable from a small company to a huge corporation. So, as your business grows, Tally supports you through the journey
• Tally’s security measures keep out unwanted access to your valuable data. Tally allows multiple users with varying levels of access. It also allows safe and secure access to validated users remotely
• It connects well with various Microsoft applications so that you can share your data, reports and insights when required to people who do not have Tally
• Tally seamlessly connects all the functions of a company such as financial accounting, payroll, inventory, sales, Tally offers excellent data analysis and reporting functions that are generated in real time and instant
• Tally offers end to end financial accounting that includes auditing, taxation and reports that are required for compliance
• Tally easily generates the reports for the financial position, income, cash flow and other financial statements required for compliance

How to implement ERP System

The following tips will help you get the best out of your ERP system

• Study and understand your company’s processes and ways of working. This will help you setup and use the ERP system better
• Identify the important goals, influencing factors, risks and measures of success that you expect by implementing the ERP system
• Include all your employees and departments in the implementation of the ERP system

Conclusion

Companies that are growing and evolving quickly will be supported by an ERP system that supports their growth. Analytics and reports aid managers and business owners in decision making. Tally ERP software is perfect for Oman as it adheres to the International Financial Reporting Standards (IFRS) followed in Oman. TallyPrime provides the automation, integration, and communication that are essential to businesses in Oman. TallyPrime software is vital to the efficient management and success of a modern business enterprise in Oman.