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New Horizon by SourcePro is the preferred choice of end-to-end Enterprise Resource Planning (ERP) system for 7500+ key decision-makers across industries in India & worldwide.
New Horizon: A New, Smarter Approach to ERP
What qualifies as an ERP?
Any system or software that offers visibility & control of operations across the multiple functions within a business, which helps manage resources efficiently (be it people or machines) and boost ROI in the process. Essentially, it is a large database with simplified or automated data collection, organisation, and analysis.
How does ERP work for your business?
An Enterprise Resource Planning (ERP) system automates the business processes in a way that each function—right from planning, production, inventory, sub-contracting, finance to CRM—all works in sync with each other.
Being integrated with all internal-external applications, the ERP records incoming data from all departments and offers central, secure access to authorised users only. Not only does it get rid of operational inefficiencies, data duplication, human errors, non-compliance, risks, and unexpected downtime, but also helps visualise the data for quicker decisions and just-in-time transactions.
A business powered by one of the best ERPs is able to handle inventory, products, customers, vendors, suppliers, and partners in a manner that it bears the least possible cost of ownership at any given point of time.
Know the types of ERP systems or software
ERPs have a modular design, where each module represents a single department or function, and all modules are interconnected. In the recent years, developers have come up with quite a few types of ERP solutions, which differ in:
- Range of functions
Every business should map the benefits of these factors in an ERP, as well as pricing, to their individual needs before they pick & purchase one. Only the expert ERP solution providers ensure that the requirement and competence of modules are re-evaluated at regular intervals.
Based on the mechanism of integration, ERP modules can be further classified under 3 categories:
SALIENT FEATURES OF ERP SOFTWARE
CORE ERP MODULES
New Horizon comes with advanced modules that integrate your core business functions.
This grassroots-level approach enhances the agility of your enterprise and helps you scale faster and more efficiently.
Frequently Asked Questions
ERP software is an Enterprise Resource Planning solution that facilitates better management of business operations. It also enables you to monitor and assign your resources, be it financial, labour, time, or machine. It helps organisations in streamlining business operations like taking orders, scheduling plant activities, tracking raw materials and more. Not implementing an ERP software can be a competitive disadvantage for a company as it automates and fast-tracks daunting processes for a business.
Yes. Every industry and company can avail great benefits from an ERP software. Irrespective of which industry your company belongs to, an ERP can automate, streamline and accelerate business processes for you. Secondly, you can also go for industry-specific ERP solutions, which cater to the needs and exceptions of an industry. In fact, every business must be equipped with ERP software if they want to have a competitive edge in the market.
CRM and ERP, both are designed to streamline business processes. CRM solely focuses on the sales side, whereas an ERP is implemented to automate, fast-track and streamline processes across multiple departments. An ERP solution enables the management to monitor every department and process of an organisation.
Tier 1 ERP systems, i.e. the software required for larger companies have huge cost. ERP solutions tailored for a specific vertical and for SME are cost effective and offer all functionalities found in Tier-1 ERP solutions. Also, the cost of an ERP solution shouldn’t be an influential factor because it is an investment that offers a great ROI.
There are two types of ERP solutions.
- On-Premise ERP: This is the traditional type of system deployment, where the ERP solution is installed on the server of a company. An on-premise software involves a capital expenditure as the company needs to buy licences that give you total control in terms of usage. Total control brings along complete responsibility of securing and maintaining hardware systems. And thus, you might need a large in-house IT team to troubleshoot issues faced by individual users and offer security.
- Cloud-Based ERP: A cloud-based solution has exploded in popularity lately. Usually Cloud based ERP systems are offered as Software-as-a-Service model. You can pay for usage on a monthly or quarterly basis instead of paying an upfront licence fee. It provides real-time insights, facilitates growth, and is encrypted for security. A cloud-based ERP operates remotely, which means if your employees work from different parts and corners of the country, they can still update data in real-time, provided they have a decent internet connection.
With an ERP solution, you can gain a complete visibility into your core business operations. It also optimises your company’s overall efficiency through resource tracking, data management, reports, and insights.