Seminar on Financial facilities and ERP by Laghu Udyog Bharti

Discussion on ERP Software 'Time Trim' by CA Nagesh Bajaj Managing Director Lawcrux Advisors (P) Ltd. End Quote

(1888PressRelease) September 11, 2012 - Discussion on the ERP software 'Time Trim' by Law Crux Advisors Pvt. Ltd.: An interactive meeting seminar was organized by Laghu Udyog Bharti Faridabad on 25th July in hotel Delite. There were two attractions in the seminar for the members, all of which are from Small Scale units of Faridabad. The first attraction was to have an interaction with Opendra Sharma, Deputy Manager (Business Development) NSIC. Sharma, while addressing the gathering educated the present about the various schemes of finance available for the small scale sector. He advised the industry to avail the benefits of project finance, bills discounting and overdraft facility through NSIC. Different schemes through which SME's can be benefitted relating to procurement of raw material, technology up-gradation, marketing of products, third party credit rating etc. were also discussed in detail.

The second attraction of the seminar was the Discussion on the ERP software 'Time Trim' by CA Nagesh Bajaj, Managing Director Lawcrux Advisors (P) Ltd.. Bajaj very well explained the purpose of implementation of ERP system. By way of charts and diagrams he explained how ERP system help in having a total 'control' over the affairs of the company with a few clicks on computer. He educated the gathering about the facility the software provides in optimizing the output of Man, Machine and Material. Being the three major ingredients of the manufacturing process, these factors cannot be used to make profits to the maximum till they are used efficiently.

Since, in the manual systems we don't have a check on the efficiency of each and every unit of input, we are not able to identify the unit of respective factors lagging the unit behind. Regarding the Financial impact Bajaj said, "When the losses of a unit are minimized the profit and the efficiency is automatically increased". Bajaj added "The strength of the software lies in three factors the first being reduced dependency on employees, second being the updation of figures immediately on posting the transaction and thirdly the availability of information all around the globe irrespective of where the person is physically available. Reduction in theft and frauds is an added advantage of the software because every movement of man, machine and the material is duly accounted for in the system.

Earlier, Arun Bajaj (District President, Laghu Udyog Bharti) welcomed all the guests, dignitaries. The program was taken forwarded by Vice President and well known industrialist Ajay Joneja. The program ended with the vote of thanks by Ravi Bhushan Khatri, Vice President LUB. Also present on the occasion were Ms. Anju Bajaj (National Executive member, LUB), CA GatumGoel, C.M. Garg, Surnder Bansal, B.P. Kansal, Praveen Ranka, PradeepTibriwal, Jitender Shah, Rajkumar Agrawal and others.

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