In this digital transformation era, businesses need to ensure accurate planning and real-time control of processes and resources to flourish and succeed. A company can undoubtedly implement an ERP system for this purpose. What is ERP, what may be its benefits for businesses and how can it be implemented?
Indglobal is a premium ERP software development company in Bangalore to develop innovative and custom software solutions spanning all technologies and industries. We provide ERP Purchase Management Solutions in India and present consistency over resource planning and functional Management strategically and effectively.
What does ERP stand for?
ERP implies Enterprise Resource Planning.
An ERP system refers to an integrated platform for managing significant amounts of data in the production and supply chains. The system is divided into several modules handling finance, accounting, procurement, human resources, manufacturing and delivery, enabling businesses to encompass and automate all processes. ERP software serves to automate business functions like production, sales quoting, accounting, and more. ERP software is inclusive software that caters to different departments. It saves information in a simplified and centralized manner, making it easier and more accessible for all the employees.
IndGlobal ERP Software and benefits
IndGlobal, a leading software development company in Bangalore, offers an ERP system that converts an industry to be more productive and efficient, ensuring enhanced user experiences with contemporary methods like enterprise mobility, integrated data collection & interpretation techniques. Approaches like mobile ERP systems provide prolonged impressions for enterprises. ERP software system nurtures Purchase Management- a core requirement of any enterprise.
Modern ERPs, however, are more than just an integration of services. And they further incorporate artificial intelligence, Big Data analytics, IoT technology, cloud computing etc., to boost productivity.
According to a Market Research Future report on the current global ERP software market, it has been predicted that the market will increase from $32 billion in 2017 to $49 billion by 2023, at a CAGR of 7%.
But what is the actual driver for the growth of this market? The organizations desire to improve their process transparency and operational efficiency.
- The ERP system implementation provides numerous benefits for an organization:
- Decreased product development cost — An effective management and quality assurance system reduces errors and risks.
- Enhanced collaboration — a central database eliminates information barriers within different departments.
- Management optimization — since all processes are controlled via a common center, it can miss no issue.
- Automatized Manual labor — when innovative digital technologies are incorporated into ERPs, they replace humans in many operations.
- Modernized Business Process Standardization– Implementing an ERP system within an organization brings standardization of the entire business process.
- Data-driven decision-making process— real-time data analysis enables managers to make informed decisions quicker.
- Facilitated Regulatory compliance — specialized automated systems monitor compliance of produced goods with proper rules and standards.
- Improved Data and cloud security- ERPs- provide for increased Data and Cloud protection.
- Expanded profitability — the benefits mentioned above of ERP together provide for complete enterprise visibility and more efficient operations, thereby helping reach the common goal of enhancing the ultimate output.
Thus, simply put, an ERP solution can be a significant investment of time and money, and it will be worth it if you manage it properly.
How to select a perfect ERP Software Solution for your business-
Businesses should always consider their requirements before shortlisting any ERP software. Suppose you are looking for the top ERP Software development company in India that offers economical, efficient, and compatible ERP software solutions. In that case, Indglobal is the perfect place that contributes a lot to the Odoo ERP software development in India.
Since several ERP modules are available, you must select the suitable ERP modules that perfectly complement your business requirements. Next, check the overall budget and the efficiency.
The factors to be borne in mind before you decide on an ERP software solution for your business includes-
- Its Adaptability and the customization possibilities
- Experience, review of the vendor
- Data migration support
- Security, scalability and multi-platform features and functionalities
- Troubleshoot & customer support
- Whether it is equipped with leading-edge technological wizards
You should select your ERP software with the help of an ERP software solution provider in India that will help you choose the suitable ERP. Since many ERP software development companies in India, selecting the best one becomes a tedious task. You should select ERP Software services that are experts in effectively integrating and optimizing all the functionalities. Lastly, the solution provided by the ERP Software development Company in India should reduce the complexity in managing business processes along with automating the entire process.
A quick look at The Interior of an ERP Software
Typically, an enterprise resource management software has several modules that employees can access that concern their duties. In contrast, top Management can review the data and make changes within the entire system. By keeping it to such a modular approach, organizations can enhance security and get more accurate data at all levels.
In general, ERP modules include the following functionalities — within a single platform:
- A smooth Order processing
- Efficient Production management and effective manufacturing resource tracking
- Superior Supply chain management
- Enhanced Customer relation management
- Improved Content management
- Effective Human resources management
- Refined Financial Management
- Enhanced Marketing
- Upgraded Analysis and reporting services
Though these are only a few basic examples, a particular business may also require other modules.
ERP applications, of course, can be loaded with a variety of tools and features as required by the industry. Let’s look at a few integral parts for creating efficient ERP software.
Different companies have different flexibility needs and security requirements depending on business specifics and parameters, so it is essential to choose where to store the relevant data. An appropriate enterprise resource planning system should be able to provide all possible options like cloud storage or On-premise servers and hybrid integration platforms so that companies can decide for themselves which option suits them best.
Easy Integration Process
ERP software solutions usually encompass several function-specific solutions, including CRM and CMS systems, supply chain management, financial, HR management, marketing, manufacturing resource planning and other modules. Such platforms offer proper integration of their stand-alone segments to enable a holistic overview of their well-coordinated operation, contributing to an easy and faster migration or updating process.
An ERP system should provide scalability to meet the increasing requirements of businesses and quickly adapt to any future needs. Otherwise, companies may face problems and either restart the entire process or introduce additional applications, thereby complicating the whole system.
“Mobilization” is a widespread trend gradually emerging across all industrial sectors. An ideal ERP solution should allow their users to access a single platform from any device — mobiles, tablet, laptop or desktop.
There are mainly two ways to acquire your own efficient ERP software solutions — getting an innovative and out-of-the-box solution tailored specially for you by an efficient ERP software development company in Bangalore or developing custom ERP software on your own. Read on to learn more about these methods.
Contact IndGlobal for the best ERP consultants in India to experience the vastness and versatility of the ERP softwares!
The Best ERP Software for Your Business
There are several ERP software providers available on the market. Still, companies must keep in mind their requirements and needs that should ultimately determine their choice of ERP software. We have selected a few good examples of ERP systems — big names that featured in “Gartner’s Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises.”
Oracle Fusion Cloud ERP
Oracle’s core strength of this comprehensive ERP solution remains in its robust financial functionalities enabling advanced analytics and reporting facilities. Companies using these insightful analytics in addition to Intelligent Procurement Cloud tools can control and reduce their expenses more efficiently.
The core functionality encompasses the following modules:
- Project management
- Risk management
- Enterprise performance management (EPM)
- Supply chain management
- Adaptive intelligent apps for ERP
- Analytics for Cloud ERP
Businesses of all sizes can also benefit from scalability ensured by Oracle’s cloud deployment model. Moreover, companies can control practically all potential risks using the Risk Management tool enriched with AI-powered algorithms.
Oracle NetSuite ERP solutions
The NetSuite ERP provides embedded business intelligence, ease of customization, enhanced scalability and support. More than 40,000 companies from various industries globally have adopted NetSuite because of its high quality, outstanding capabilities and effective facilitation of 360-degree visibility and smooth control of company operations.
This solution offers the following functionalities:
- Financial planning and Management
- Order management
- Production management
- Supply chain management
- Warehouse and fulfillment
SAP S/4HANA ERP Suite
This powerful, intelligent ERP system comprises tools and solutions for essentially all business processes. SAP is a pioneer of enterprise resource planning systems, and the answer has supported more than 50,000 customers spanning 25 industries. This ERP suite offers end-to-end support for all business activities.
can deploy The SAP S/4HANA ERP suite either on-premises or as a cloud-based ERP solution in a public, private or hybrid cloud. It relies on embedded AI, machine learning and more advanced analytics, an in-memory database and a simplified data model.
- Microsoft Dynamics GP ERP Solutions
The ERP solution by Microsoft is simple, and that is why its interface is easy to learn and use. Microsoft Dynamics GP offers a wide range of customization features along with a high level of security.
MS Office apps and the SQL databases serve as the base for Microsoft Dynamics GP, providing more brilliant reporting and business intelligence functionalities.
The Microsoft ERP suite encompasses the following modules:
- Financial Management and Accounting
- Inventory operations
- Sales and services
- HR and payroll
- Business intelligence and reporting
Industries That Need ERP Software
Most industries have a typical working process that includes being connected with the supply chain, maintaining good customer relationships, smooth internal communication, efficient accounting and finance control, marketing and production. Consequently, these all can be managed by a specific ERP software solution with customization.
- HR & Payroll
- Supply Chain & Procurement
- Sales & Marketing
- Customer Relationship Management etc.
There are integrated enterprise resource management applications available in the market for all kinds of industries. A proper ERP software helps to improve internal business activities, communications, coordination, documentation, production, and synchronization for increased efficiency for the overall growth of the organization. An extended & customized ERP solution further lets you manage a sophisticated business at your fingertips.
Industries that can reap benefits from ERP solutions- ERP plays a significant role in shaping any primary, small and medium enterprise, making it successful. Some of the major industries which can mention include-
- Manufacturing and Trading
- Healthcare industries
- Retail and wholesale Industries
- Telecom and IT
- transportation and logistics.
Weaving a Customized ERP software Solution:
Developing a custom ERP system can be complicated, but it provides excellent compatibility with the organization’s processes.
The core benefit of a customized ERP system is that it perfectly suits the organizational strategies and operations. Such an approach doesn’t possess any integrational problems and offers the best execution of the business functionality. To create an ERP solution from the ground up, a business needs a proficient team of developers, designers, testers, an extended timeframe, and an initial investment. But in the long term, the project will be cost-effective with fewer risks and an increased ROI.
Now, Let’s take a look at the various stages of the ERP system development process.
1. Understanding the Business Process and Defining Goals
Any Software creation commences with coding and comprehending the client’s business.
Complete visibility to organizational objectives is the result of several meetings and negotiations. Clients should explain their requirements and expectations regarding the functionality of the software solution they want to be developed for them.
2. Creating Blueprint and Prototype
Our expert team of designers and developers pays particular attention to the prototype and the system’s modules. The most common included modules refer to manufacturing, HR, procurement, financial, sales and customer relationship management. can also be integrate Other services and functionalities into the system depending on the client’s requirements.
3. The actual Development Process
At this stage, technical decisions are made regarding:
- We are hosting services, whether on-premises or on the cloud.
- Backend infrastructure encompassing databases, architecture, security systems, content management and several other components will make the software work, update and change.
- frontend architecture i.e.UI and UX
- Integration of the previous data, i.e., retaining vital information to be reconfigured to be available for further usage in this new software structure).
4. Testing Procedure
Our experienced technicians perform different types of testing, including unit, integration, system, functional testing, security testing, etc. Finally, engineers check if the developed software product can meet all the requirements and is comfortable working with the post, which the system can be implemented when approved by the client.
We have been developing custom ERP software solutions for SMBs and enterprises for over a decade.
Plan Your Resources with Indglobal ERP software solutions
The essence of ERP systems remains in removing barriers within the various departments of an organization for more efficient performance. Organizations widely adopt this philosophy to find this software practically in any industry. A successful ERP software implementation is half the battle won for the successful operation of a business, as it can streamline processes, reduce costs, and provide improved visibility and transparency.
Contact us to know more about how an ERP system can emerge as a source of competitive advantage for your business. We are ready to craft or tailor a perfect enterprise resource planning app for your particular needs.