Blog How Vault can support IT companies

How Vault can support IT companies

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ERP, which stands for ‘enterprise resource planning’, is an integral part of every business. Especially for large organizations that need a comprehensive system to manage their overall business operations. It makes sense for IT companies to gain the same benefits.

IT companies have several departments, teams, and projects that need to be effectively managed. An ERP provides an excellent solution to unify all kinds of IT operations from a single unified platform. Here are some insights on how an ERP solution, such as Vault, can help an IT company.

 

What is an ERP?

Enterprise resource planning is the process used by organizations to bring together their various operations under a unified platform and manage them more efficiently. This process of integrating the different business areas and operations is accomplished with the help of dedicated tools and technologies, which can form a complex system called an ERP. An ERP has various features that let the company integrate operations like planning, inventory management, payroll management, marketing, finance, and much more.

An ERP allows a company to access the various facets of their company from a single dashboard like application which will reduce costs, manual errors, and improve the overall efficiency and productivity. It also makes it easier to share information and provides a better way to communicate across the various teams in the company. It makes data collection and reporting more efficient and provides you with quick access to information.

An ERP solution can also be used along with analytics to make better business projections, planning, and have continuous improvement in the company’s business processes.

 

Benefits of an ERP solution for IT companies

IT companies must continuously adapt to the changing technological landscapes and aim for maximum efficiency in their operations in order to stay ahead of the competition. Time is of the essence which is why decision-makers must have quick access to relevant data so that they can make the right decisions at the right time. Thus, an ERP system can be regarded as an important aid to any IT company given its capabilities to regulate the flow of communication and provide accurate and timely information across teams.

Here are a few ways IT companies can benefit from an ERP solution:

  1. Planning relies heavily on accurate and timely information. An ERP can build a robust IT planning framework by focusing on enterprise architecture.
  2. An ERP helps with better cost and budget management so that projects are allocated the necessary budget and are less likely to overspend or underspend.
  3. The entire project planning and management can be made more efficient with the help of a suitable software. For instance, project managers can get quick access to available technical and non-technical resources and assets, which results in better project schedules and commitments.
  4. An ERP can take care of human resource operations like staff management which leaves managers with more time and resources for better strategic improvements.
  5. Reporting and accounting can be made error-free and much cheaper with the help of an ERP.
  6. It can be used as a means for internal communication and collaboration and synchronizing with vendors or customers.

Read on: Key benefits and drawbacks of ERP systems

 

What areas can an ERP solution support IT companies?

An ERP is usually a large software system with tons of features, but not every company needs every feature that an ERP provides. The more features you choose, the more money you will spend on a selected ERP. Generic ERP solutions may sometimes lack the specific advanced features that an IT company requires. Here are some of the common areas where an IT company could use the help of an ERP solution:

  1. Task management to track work processes and project progress.
  2. Communication and collaboration can be improved amongst teams.
  3. Project management to help track the progress of projects and ensure they are on schedule.
  4. Asset management to keep track of all type of resources – whether it’s hardware or software.
  5. Accounting and reporting to monitor business processes and improve efficiency.
  6. Business process design and management.
  7. Talent management by helping measure personnel performance, evaluate personal costs, and reduce the administrative burden.

 

 How Vault can help IT companies

Successful implementation and execution of an ERP solution largely depends on how well it aligns with the goals, vision, and roadmap of your IT projects. Vault’s experts can customize the ERP solution to your needs in order to keep your IT company faring well ahead of any competitors.

Vault provides a cloud-based ERP solution that enables 24/7 availability and remote access, thus helping you quickly achieve your productivity goals. Here are some of the features that Vault offers that will make it a great asset to your IT company:

  • The Task management module helps you keep track of all work tasks, lets you monitor progress, and ensures nothing strays out of schedule.
  • An intuitive Gantt chart that helps with project planning, task scheduling and assignment, project timeline assessment, and more.
  • An accurate record of all your inventory can be maintained along with details regarding its location. The Asset management module provides quick access to all the relevant documents and allows you to manage assets from your smartphone.
  • An up-to-date and comprehensive dashboard lets managers get a quick glimpse of the overall business processes and helps you make the right actions proactively. You can efficiently customize your workplace based on real data and insights.
  • Business process designer that’ll help you allocate responsibilities in the most efficient manner.
  • Vault’s personnel features can help you evaluate and manage personnel performance. With remote work being more prominent, personnel features could be your greatest asset to manage all your employees from a single place. It gives you quick access to all employee related data.
  • The KPI module integrates the traditional use of key performance indicators as part of your ERP operations. It helps you establish the key objectives for your projects and makes use of reliable statistics and data to achieve them. The data insights from this feature can help you make well informed strategic decisions.
  • The time tracking tool automates the process of tracking work hours and alleviates any issues you might be facing with billing.
  • Another point of contention with employee management could be employee absences which can lead to administrative headaches when done manually. Vault’s leave management feature helps you regulate absences and efficiently track all time-off requests.
  • Vault can also help you with the hiring process with its Candidate management module.

Besides these features and the others which you can find in our list of modules and functionalities, Vault can also smoothly integrate with various productivity tools like Jira, Tempo, Google Apps, Microsoft Azure, GitHub, Outlook, Trello, Basecamp, and more to make your job easier.

 

Ready for your special offer?

Vault has every feature that an aspiring IT company needs from an efficient ERP solution – being able to store all the information under one roof along with great features like customization, a multi company set up, modularity, and easy integrations with your existing cloud infrastructure. If you want to know more, contact us and request a demo so that you can find out about the key features that have already helped many IT companies grow.

 

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