Monak ERP is a full-featured business management solution that helps businesses to record all their business transactions in a single system. With Monak ERP, businesses can make informed, fact-based, timely decisions to remain relevant and ahead of the competition. It serves as the backbone of a business adding strength, transparency, and control to your growing enterprise.
Monak ERP Standard Features out of the box.
Accounting & Billing
MonakERP comes with a complete and an in-depht accounting system with Chart of Accounts and Cost Centers and is IFRC compliant. The Accounting module seamlessly connects with all other modules to ensure company financial information is available on a real-time basis. It has functionalities such as accounts receivable, accounts payable, outstanding invoices, payment requests, purchase invoice, bank reconciliation, bank guarantees, tax payable. Journal entries are passed by system and accountants can input entries on ad-hoc basis as needed. All information is easily available through reports and dashboards such as Trial Balance, Balance Sheet, Cash Flow, Profit & Loss Statement, Profitability Analysis, Customer Credit Balance and more. Additional reports can be created and template saved for future need.
It is important for companies to track every asset they own. MonakERP can track asset value, depreciate it based on company financial requirements, devalue the item price and inform when the item has reached disposable value. It also can track maintenance schedule as per the item specification. Further, notes can be added describing what type of maintenance was carried. The system would then schedule next maintenance based on item frequency. MonakERP allows you to maintain a depreciation accounts for tangible assets, automatically calculating depreciation and tax deductions, eliminating the need for off-line spreadsheets. You can track all your company's Assets by Category, by Location and movement or by Serial Number.
HRM, Payroll & Employee Loans
MonakERP HR module helps you keep track of all employee’s data, residence permit, leaves, end of service benefit and attendance. Monthly payroll are easily created and auto accrual entries passed by the system. Employees can make expense claims as well as other types of approval requests such as leaves and salary advances. Internal loans to employees can be created within the system with monthly deduction set for total duration of the loan, and the system ensures deduction occurs every month and principal balance deducted giving employees and the company information of balance loan amount. Mandatory and optional training can be assigned by supervisor as and when needed. MonakERP gives flexibility of conducting timely staff appraisal by assigning weightage to the key parameters. Employees can be allocated annual leaves, they can apply for leave and get thier leaves approved by multiple appovers. MonakERP comes with a fleet management feature to help with the administration of your vehicles.
Customer Relationship Management (CRM)
Automation of key activities, refined analytical tools, effcient communications, and improved customer relations all translate to a shorter sales cycle, higher sales revenue, and increased profits. The CRM module comes with the much needed capabilities and integration to cultivate positive customer relationships for profitability, help track business Opportunities from Leads and Customers, send Quotations, manage and fulfil sales orders. Multiple reports such as Prospects Engaged But Not Converted, Minutes to First Response for Opportunity, Inactive Customers, Campaign Efficiency and Lead Owner Efficiency can drive management in making key changes and build new strategies to enhance growth. You can also set alerts and send email directly from the system and help close more deals. MonakERP's CRM increases communication effectiveness, improves individual and team productivity by centralizing contact and calendar information, empowers the sales team to close more deals and your customer support team to handle requests accurately and effectively.
MonakERP allows you to track communication with your Leads or Customers, keep engaging with them by sending newsletter regularly and send Quotations when they are ready to order. Whether your company is selling physical product or services, the Sales module is vital need of every ERP. With MonakERP a business is able to know their best and worst selling product, locations based sales, best customers, best and worst sales team, leads to conversion ratio and run multiple campaigns. Pricing rules can be created on various parameters. SMS and email can be integrated to send quotations, sales order or just informative communication.
Every company makes purchases either for internal consumption or to resell. At times company loses money due to over purchasing, buying at higher cost, unauthorized purchase and more. With MonakERP, approval workflow can be made for every type of purchase saving the company finite disposable cash. Quotations can be requested from Suppliers and purchase order given to the best priced supplier. Suppliers can be assessed on various parameters leading to working with best suppliers and weeding out undesirable ones. Auto notification can be set when item is reaching low level along with lead time to procure. This assist in ensuring fresh order is placed when needed and business does not suffer due to unavailability of the item. You can make purchase requests for all materials required for production and automatically send Email suppliers. Manage inventory of finished goods at the end of production and automatically link it to sales and accounting.
Stock / Inventory
With its warehouse centric design, the Stock module can save you time and money. Stock is a company’s current asset thereby making it prudent to keep tabs on its locations and cost. You can track costs and sales histories by warehouse and mantain complete inventory visibility by tracking your stock transfers both within and between warehouses. Automatically raise material requests, send purchase orders to suppliers and record purchase receipts. Multiple physical and logical warehouse can be created with its stock levels. Any incoming or outgoing of stock can be tracked by serial number, batch number, warranty expiry or service expiry. Warehouse administrators can defining transportation vehicles as logical warehouses. Quality inspection can be conducted and reports submitted into the system. Information can be extracted though standard multiple reports available in the system.
MonakERP project module can be used for external client project as well as internal ones. The Project module helps manage your Projects by breaking them into Tasks and allocating them to different people, helping your company to achieve the operational edge that puts you in control of managing projects with exceptional flexibility by preventing cost overruns and maximizing bottom-line savings. The project and tasks have expected start and end date. Tasks can have dependencies on other tasks and cost of activity of each task is tracked through time sheets or purchases. Budget can be assigned to the project to keep tab on expenses. Senior management can be brought up to speed with Gantt view. Clients can be billed for hours worked if the activity is chargeable. Clients can also be given access to their project to know level of completion and ascertain time of completion.
MonakERP has user-friendly Point-of-Sales which is linked to billing, payments and Inventory. You can manage settings like Currency, Cash / Bank Account, Taxes, and Terms and Conditions individually for each location. POS feature also works offline and syncs when you have internet. MonakERP has a clean interface for making sales easy at the company’s retail outlets. Sales person can punch sales orders; collect payments to complete the formality quickly. The system would account the sales and decrease stock at the location instantaneously. Further, in instance of breakage of internet connection the point of sales machine would remain in operation ensuring business in not affected. Database sync would occur when the internet connections is established. With MonakERP you don't need to purchase separate point of sales, accounting or inventory software as it connects all aspects of retail business.