An Enterprise Resource Planning [ERP] software is used for business management and performs specific functions related to collection, storage, managing, and interpreting data. As an ERP software is an integrated application, an ERP consulting services company studies all the business activities of an organization before developing a solution which enhances management.
Most Popular ERP Applications
So, how exactly does this process happen? How does an entrepreneur know which ERP services company is the right choice for developing an application, or maintaining an existing one which is globally popular?
Well, Oracle Fusion Applications (OFA) are the most popular and widely-used group of applications which aid enterprises in financial, human resource, customer relationship, supply chain, and project management among others. OFA are used in industry segments ranging from financial and banking, healthcare and hospitality to transportation and media sectors.
In addition to Oracle products, a significant number of enterprises have opted for ERP applications developed by SAP. One of the major differences between these two global bigwigs being the scale of their clientele – while Oracle focuses on medium and large enterprises, SAP makes business management software applications for small businesses as well.
ERP for Business Problems
Business management involves keeping track of multiple aspects which are vital for ensuring the success of an enterprise. While the right software can help you achieve your business goals, arriving at the ideal business software can be a confusing and cumbersome task.
The following list of problems is the most commonly encountered one when setting up and running an enterprise:
- Data Collection & Storage
- Financials Register
- Workforce Productivity Monitoring
- Customer Interaction
- Product Lifecycle Management
As an entrepreneur, it is good to have all these processes in one application as it becomes easier to document data and reuse it whenever needed. Hence, an ERP solution comes in very handy as it is an integrated application which serves multiple functions at the click of a button.
The ERP Solutions Approach
An ERP services company when approached with these challenges takes a 360 degree view of the organizational needs and delivers accordingly. Based on the size and scale of the firm’s functions, its processes, customer base and financials, the right ERP solutions provider suggests an existing application or plans for a customized application.
The decision then ultimately lies with you, the business owner, to identify what works best before giving a final go ahead for the application to be schematized in detail and then developed in a phased manner.
In today’s competitive business environment, cloud ERP solutions are gaining traction with enterprises as the application can be accessed from anywhere, anytime, as long as there is connectivity to the internet to upload or download firm-specific data.