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.

1. 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.
2. 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.