(7)What are the advantages of ERP System?

Answer: Following are some of the advantages of ERP system:

·       Today’s ERP systems can cover a wide range of functions and integrate them into one unified database.

·         Ability to customize an organization’s requirements.

·         Ability to integrate business operations with accounting and financial modules.

·         Ability to automate manual processes thus reducing errors.

·         Ability to process huge volumes of data within short time frames.

·         Enhanced data security and application controls.

·         Enhanced access controls and segregation of duties controls.

·         Enhanced reporting capabilities for management.