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October 7, 2021

Choosing an ERP Solution

Every business needs an ERP solution to handle day-to-day activities like project management, accounting, risk management, supply chain, and procurement operations.

The solution is usually an integrated set of software that stores, manages, and then interprets data. We now also see cloud-based ERP solutions that give access to information from any remote location.

How does the ERP system work?

Organizations make business decisions on accurate information. An ERP system makes this possible consistently. The main factor in most ERP systems is a central database. It gives the business consistent, up-to-date information at all times.

The central database gets input from the various departments of the organization. This mammoth information gives business leaders the ability to make sound decisions quickly. Analyzing different scenarios helps to improve process workflows and results in cost savings. By integrating the various systems of the organization, the ERP solution increases the efficiency and success manifold.

Does your business need an ERP system?

The ERP system is beneficial to most business applications as it takes care of varied functions. Let's have a look at the business sectors that use ERP:

  • Accounting: This covers areas like fixed assets, ledger, payables, receivables, cash management
  • HR: This covers recruiting and training personnel, payroll, pension, retirement factors
  • Management: This covers costing and budgets
  • Manufacturing: This covers workflow management, scheduling, quality control, process, and product life cycle
  • Order processing: This covers orders, pricing, credit, inventory, shipping, report generation
  • Supply chain: This covers planning, scheduling, purchasing, warehousing, inventory
  • Projects: This covers planning, costing, billing
  • Customer service: This covers call-center support, sales, and marketing

So, if your business falls under any of these above sectors, an ERP solution will help. The whole point of an ERP system is its integration with many departments. Planning and coordination are efficient when using an ERP system. Employees can check inventory and purchase orders regularly. It helps in forecasting demand in the future and make necessary changes where required. Another factor of ERP is collaboration. Knowing the status of each sector makes it easy for another to deal with its workflow strategies.

ERP also helps businesses in terms of report generation and analytics. These are crucial for all business leaders as they provide insight into trends and future changes. Using this information, organizations can turn a failure into a success.

How do you choose an ERP solution?

An ERP system is crucial to most businesses. But choosing the right one can be a bit daunting. Let's look at some steps you can take to select the ERP system for your organization:

  1. Analyze your business: Figure out your business strategies, strengths, and weaknesses. Make a note of what you would like to achieve in the future.
  2. Know the right software match: Since ERP integrates with existing software in most cases, it is imperative to know which software solution will work for you. It will save time and energy in implementing the new ERP technology.
  3. Be aware of total cost: ERP implementing companies may downplay the costs of purchasing software from them. There may be many hidden costs that could come up later in the implementation process. It is better to know all the costs that could arise upfront.
  4. Be aware of timelines: Sales representatives may give you a quick implementation timeline to get you to sign up with them. Be aware and request a comprehensive plan that lists all the project timelines in detail. These timelines should include the testing phase and any iterations required.
  5. Understand the benefits: If you are looking to reduce costs and increase sales through the use of ERP, then you need to understand the benefits too. Check to see if all the factors are covered and that using an ERP will boost your ROI.
  6. Do your research: There are several ERP solutions available in the market. Many vendors will promise you the best. Choosing the right can be difficult. Research and find out the best organization that can handle your business needs. Customer support should be one of the main factors, as after-sales service for an ERP solution is a must.

Why choose AppsComp?

AppsComp is a premier software and services company. Our cost-effective and quality services have been a success for our clients. We provide customized solutions based on the client's needs. With a cumulative experience of 20+ years in all the verticals, we provide quality service every time.

Our dedicated team has handled ERP implementation for many clients across the globe. So, give us a call and let us help you reach your business goals today.