To keep up with the rapidly evolving business in the modern aviation world, the aviation industry must integrate new practices and technological advancements into its day-to-day operations. Therefore, it is essential to use an ERP system for the aviation industry to simplify the recording, storing, managing, and interpreting of business data.
According to Rodolphe Parisot, Vice President of Digital & Innovation at Air France Industries KLM Engineering & Maintenance stated that “enterprise resource planning (ERP) modules that are used in a company are integrated by definition, and as a result, they provide a healthy consistency of data across the entirety of the organization.
As a result, ERP covers a wide variety of processes, including maintenance operations, finance, use of business resources including human resources, sales, purchasing, engineering, bill of materials, and supply chain.”
This ensures robust data consistency throughout the aviation industry, which can be a reason why your aviation industry needs an ERP system. That being said, this article will explain ERP’s role in the aviation industry trends and its features.
Key Takeaways
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Table of Content:
Table of Content
Top 3 Trends that The Aviation Industry is Adopting
Companies must keep up with recent innovations and trends in managing the aviation industry’s day-to-day operations. These innovative concepts must pave the way for new trends like data analysis, the Internet of Things, and automation systems.
Because of these changes, aviation operations can be improved and run more efficiently. As the aviation industry grows, there are more chances for aircraft operations to use enterprise resource planning or ERP systems to their advantage. These are the trends in the aviation industry in which ERP plays a role in helping them adapt to the trends;
1. Data analytics
An aviation business can benefit from data analytics by gaining regularly generated insights. Airlines, airports, and other stakeholders can use these insights to make data-driven decisions and improvements. In the aviation business, there is currently no standardization of the aviation industry in an analytics platform.
As a result, the aviation industry is facing difficulties in scaling and combining different data sources. Thus, to resolve this, there is a constant need in the aviation industry to obtain accurate and up-to-date information, which is by using ERP solutions by HashMicro to help deliver accurate data in real time.
2. Internet of things
The Internet of Things (IoT) refers to a networked system of computer devices such as computers, laptops, smartphones, etc. It enables more intelligent and controlled work processes, which benefits businesses.
Not only that, IoT also enables the processes, analysis, and insights, as well as monitoring the performance of day-to-day in the aviation industries run efficiently and effectively automatically only using one dashboard. Airlines frequently use these procedures to report real-time data on their engines’ condition and other equipment pieces.
Implementing ERP software also means you allow the adaptation of the IoT system in your airline and aviation industries.
3. Automation
Automation in aircraft management software refers to the automated features of ERP. The features bring many advantages, such as easiness of communication, generating automated reporting, and reducing repetitive tasks.
Regarding maintenance, the focus will switch to how the digitization of software will help simplify aircraft tasks and increase productivity. It’s possible to automate all other processes in the aviation industry, such as financial report generation, purchase order automation, and expense management, with the help of an automated ERP.
Implementing automated processes can help your business to gain more insights while reducing inefficiencies, errors, and compliance.
Also read: The Importance of Asset Management for Transportation Business
HashMicro ERP for the Aviation Industry
The cloud-based ERP system from Singapore, HashMicro, helps aviation industries integrate different operations departments. ERP by HashMicro is an integrated software that can handle various aviation businesses (whether you are an airline, an aviation manufacturing company, or a cargo plane managing inventory).
Such software applies to any industry as a solution to simplify operational tasks such as accounting, customer relationship management (CRM), human resource management (HRM), procurement, inventory, manufacturing, production, data interchange, management, and the entire supply chain.
And that is what makes HashMicro the most effective solution for your aviation industry. Numerous businesses have used HashMicro because of its ease of use, customization, integration, and unlimited access to any user.
Also Read: Top ERP Software Recommendations – Explore the best software options available this year and find the right fit for your business needs.
Features of the ERP System for The Aviation Industry
Expense accounting
ERP system will make it easy for you to streamline income tax by using one dashboard only (equipped with an automatic payment feature). This will allow you to cut costs and increase business productivity.
ERP systems enable you to integrate with bank accounts, which makes it simpler for you to track and verify various kinds of transactions in a way quicker and more efficient. Since it is also integrated with the bank, this feature is particularly useful. You will be able to obtain an automated report generation in a couple of minutes simultaneously.
As the aviation industry expands globally, interacting with nations worldwide is inevitable, yet managing multiple currencies manually proves inefficient; however, ERP accounting features swiftly address this issue by facilitating instant multi-currency conversion.
Inventory management
Inventory management is pivotal in the aviation sector due to its capital-intensive nature, ensuring efficient allocation of resources and minimizing capital stagnation, especially during inventory surplus or aircraft maintenance scenarios.
For that reason, you need an integrated ERP inventory management which will simplify tracking thousands of SKUs and their locations using 3D stock location visualization with FIFO and FEFO features.
Those features help you to easily track the stock movements, the delivery of products, and stock-taking all in one. Knowing the movement of your stock enables you to produce detailed reports, determine the number of products sold or out for maintenance, and estimate business volume.
Real-time data and multiple reports
HashMicro ERP allows you to conduct analytics and generate reports about the performance of your aviation business. The system will include real-time reporting, searches, key performance indicators (KPIs), and dashboards.
These features will enable companies to take concrete steps toward making strategic choices, both accurate and up-to-date data, in real-time, allowing you to make future business decisions for expanding your companies.
Continuously improved data security
A cloud-based ERP system equipped with cutting-edge technology (business intelligence), will let you generate complete reports on your company’s performance anytime and anywhere. Another benefit of having a cloud-based ERP system is that it makes it easier to access data and continuously improves data security.
Therefore, there is no need for you to be concerned about the safety of the data in your aircraft company, worrying about how to improve the data, or how to make future business decisions since all of the data will run securely and safely.
Also read: How to Choose the Best ERP System for Your Organization?
Conclusion
An ERP system can resolve the complexity that arises during management in the aviation or fleet industries in an automated process. The system can improve the efficiency of operations at an aviation company, such as accounting and finance, inventories, HR, management, CRM procurement management, and manufacturing, amongst other areas.
The primary advantage of utilizing an ERP system is, increasing the productivity of various aviation business operations. The aviation company can make quick and accurate business decisions if they utilize Business Intelligence technology hosted on the ERP with a cloud-based system.
The aviation industry can decide because of comprehensive reports based on real-time data from every aspect of the company’s operation, which can be accessed from any location, at any time, and using any device. HashMicro ERP is the only enterprise resource planning system that offers all these features. You can try the demo version for free here.
