What is a ERP Solution: Definition, Benefits, Implementation, Cost, Providers?

ERP solution software is a management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services, and human resources.

From product planning, development, manufacturing to sales and marketing, ERP software unite all aspects of an operation  — in a single database, application and user interface.

It is indeed a business software, a very important one, for any SME, SMB or large scale company. Moreover, Businesses which are comparatively small until have a large workload rely on small tools and generally opt for ERP Software once the business takes off and they have some data and a workload which gets difficult to be managed by independent tools.

It is always better to implement ERP system than to lose on prospects. ERP Software maximizes profits and also helps in reducing expenses for any company making it a must-have for any midsize and large business.

For manufacturing resource planning (MRP) and computer integrated manufacturing (CIM) to ERP Systems covering all core functions of a business, regardless of its industry sector, ERP solution has come a long way.

                               Benefits of ERP Solution

One can experience many benefits in implementing an Enterprise Resource Planning (ERP) software solution. Other advantages are implementing ERP software can improve productivity, increase efficiencies, decrease costs and streamline processes.

Let’s look at some of the most common benefits of an ERP system that companies have reported after implementation.

  • Efficiency– It helps in get rid of repetitive processes and greatly reduces the need to manually enter information. The system will also streamline business processes and make it easier and more efficient for companies to collect data, no matter what department they’re working in.
  • Scalability– Did you know? Well-designed ERP systems allow the addition of new users and functions to grow the initially implemented solution over time. When your business is ready to grow or needs more resources, enterprise resource planning software should be able to facilitate that growth.
  • Cost Savings– With real-time information, one source of accurate, ERP software reduces administrative and operations costs. Manufacturers are allowed to proactively manage operations, prevents disruptions and delays, breaks up information logjams and helps users make decisions more quickly. If you’ve chosen the right solution for your business, and the right vendor who meets your needs.
  • Flexibility- Modern ERP software systems are robust, flexible, and configurable. They are not a one-size-fits-all proposition but can be tailored to the unique needs of a business. ERP systems also can adapt to the ever-changing needs of a growing business, ensuring you won’t have to buy a new solution once your needs change or your business grows.
  • Security- when you have an enterprise resource planning solution in place data security isn’t a worry. Improved and a new system will enhance the accuracy, consistency, and security of data, all through built-in resources and firewalls. If there are any restrictions on data can then it also be enhanced by managers of the solution, so you can make your own software as secure as you’d like.
  • Productivity- Save time and increase productivity levels. Sound too good to be true? It’s not with ERP software. Superfluous processes automated, users have more time to work on other pressing projects and tasks. They’ll also be able to work easier since the solution was designed for ease-of-use.
  • Integrated Information-No more issues with data spread across separate databases; all information will be housed in a single location. Integration of all platforms like your CRM software with the ERP system, keeping data consistent, accurate, and unique. Know your customer, their orders, and your inventory, all in one place.

                        Implementation of ERP software

A successful ERP implementation doesn’t require magic. Careful product selection and collaboration with the right partner made easy by following these specific steps. These are the  5 key elements which you can include in your new system People, Process, Priority, Product, and Partner.

Be sure to include these five critical steps in your selection if you want to maximize the outcomes, and minimize the distractions of your ERP implementation:

People- A successful ERP implementation depends on involving the right people, at the right time, and in the right way. Start smart by identifying and assembling the right internal team (owners, executives, managers, and staff) for you to have the best information available.

 Process– The inefficiencies, shortcomings, and frustrations of the existing system have likely led to an increasing set of workarounds that are required at present. In exact terms, these problems that prompted the search for a replacement. Now it is time to “formalize” these workarounds, at least in terms of a process document.

Priority- A successful ERP implementation will focus only on a carefully selected and ranked list of priorities. Start with the “everything” list. Next, all you need to do id to identify those functions, processes, and analytics that need first priority, the second priority, etc.

Product- You can determine the priority list if you need a “general” product with a strong set of core features and functions, rapid implementation, and wide applicability, or a more précised and focused solution, designed for your industry and, perhaps, even customized to your own specifications.

Partner- Moving through the selection process for your new ERP system, the final choice is the implementation partner. Choose carefully, this decision is important. Responsibility is on ERP partner  for delivering your vision, developed by your key people and based on your key priorities

                                  Cost of ERP solution

Many factors t influence the final price of an ERP system. Generally what happens is that when a buyer has selected an ERP vendor, both parties will negotiate the terms and enter into a contract.

Usually, larger businesses tend to be less hesitant about making a significant investment in an on-premise system but for small business companies, cloud-based offerings can be much more attractive due to the lower initial price point.

Cloudgeta provided you the best ERP solution in affordable price that ranges from Rs. 50,000 to Rs 4 lakh.

                                      Providers of ERP solution

Top 3 ERP Solutions Providers

  1. Cloudgeta- CloudGeta ERP is a comprehensive, prepackaged All-in-One ERP solution designed for industries. CloudGeta ERP to improve operational efficiency, increase employee productivity, and respond to market demands with agility. Cloudgeta is one-stop-hub for ERP, CRM, and payroll solutions. Real-time access to insightful and actionable data right at your disposal with a unified view. Ready-to-deploy, flexible and boutique-style. Reduced integration time and IT expenditures.
  2. Oracle: This company is also one of the largest players in the ERP market. The company has proven good record in the ERP market. The products offered by the company have a very flexible module, therefore, open to much customization. The products offered by the company are in the high-price band.
  3. Epicor: This company has been in the enterprise solution market for a very long time. It was founded in 1972 and since then it has introduced several reputable products. The company has over 20,000 customers all over the world at present about 140 countries. After some critical acquisition, the company has achieved high growth. The company has a good value-added reseller channel and provides strong industry solutions.  The company is the pool of ERP consultants. Products offered by the company are low to moderately price.
By | 2017-11-08T10:54:44+00:00 November 8th, 2017|Categories: ERP Software|Tags: , , , , , , |Comments Off on What is a ERP Solution: Definition, Benefits, Implementation, Cost, Providers?

About the Author:

Himanshu Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans.