Business & Economy

ERP is software that helps in managing your business by integrating applications used by the organization to run the business. It takes into account all the business functions like sales, accounting, marketing, manufacturing, distribution, inventory control, planning, human resource, supply chain management, project management, customer relationship management, data services, access control and other operational and functional units.

By implementing the ERP system you assure that you are not only improving relationships with stake holders but also running the business smoothly and efficiently. ERP helps you in Service Management by managing your customer life cycle, in Lean Manufacturing that helps to take on incline procedures across your enterprise and value chain, in Quality Management by increasing productivity and quality, in Finance by giving you more insights about your current and future financial state, in Manufacturing by disciplining the complex supply chain, and in Wholesale and Distribution by making the supply chain respond more quickly and effectively.

These days ERP system software has become very popular due to the increased competition and the complexities faced by entrepreneurs these days. By implementing or updating an existing ERP system, the organization makes sure that all its business process are automated and streamlined, make sure that no unnecessary procedure is being performed, cuts down any unwanted costs and expense, makes that data flow smoothly, and assures favorable business performance.

ERP software is available in different forms like supply chain management, manufacturing, warehouse management, POS software, distribution, retail management etc.

ERP systems are widely adopted by all sectors like companies, government agencies and nonprofit organizations to manage business effectively.

One of best things about an ERP system is that directly integrates with the business information systems.

ERP systems have rapidly become a crucial part of the business environment. Employees are not re skilled and trained to become familiar with ERP systems. We can say that ERPs are now becoming an industry standard among businesses of all sizes, and those who fail to understand this is losing a competitive advantage and will soon find itself in trouble and lower profits as compared to businesses that have ERP systems.

There are a lot of ERP systems available in the market these days, some top of the ERP software are listed below:

The Oracle ERP software works with the Oracle App framework and is functional with its own database. It has many improved and advances features and is allows strong running. Oracle has name in the market owing to its high speed and efficiency. Oracle’s financial package is one of the best in the market and Oracles HRMS is making its way in the market with a lot of attention and popularity. Oracles guide is very resourceful and handy.

The modules included in Oracle include HRMS, production, financial, etc. Business can buy as many modules as he wants as per the requirement of his business processes. Oracle is costly, so it is not wise to buy unnecessary modules and build up a huge installation bill.

The Pro’s of using Oracle are:
•    User Interface: Oracle consists of two user interface, one user interface has web features called Oracle Self Service Application and the other is for financial transactions called Oracle Forums. Both of them are very easy to use.
•    Incorporation between web features and the application: The Oracle Self Service Application can be used by many other organizations.
•    Adopts changes quickly: ERP adopts any change in international standards very promptly.
•    Customization: Oracle customization and installation is simpler as compared to other ERPs.
•    Report generation: There are a lot of options to generate report of any nature at any time.
•     Return on Investment: Oracle gives you a higher return on investment due to its high efficiency.
The Con’s of using Oracle are:
•    Unattractive user interface: The features of Oracle are not feasible like Windows.
•    Connections of Database: This is one the biggest drawback of Oracle, it does not connect to other databases.

•    SAP
It has great dept in terms of functionality and is considered as one most flexible ERP software. The implementation cost is high and so is adaptability. It also easily integrates with any other database. 

The ERP system of SAP focuses on manufacturing units, financial services, consumer product industry and the service industry. SAP has 550 micro vertical solutions for businesses of all sizes.

SAP is used all round the world in financial sectors, public sectors, process manufacturing, consumer goods and government sector.

Pros of using SAP include:
•    It is appropriate for any organization which has complex functions.
•    It has many levels of functions
•    Provides solutions for a better flow of work
•    It has three automation levels
•    Easily integrates with other databases unlike Oracle

Cons of using SAP include:
•    Its implementation is tough
•    High costs of software and implementation
•    High risk factor due to greater flexibility
•    Its maintenance is costly
•    It might take a lot of time for developing

EPICOR is designed for service sector, retail business, manufacturing units and distribution. It has solutions for Supply Chain Management, Service Management, Retails Management, Human Capital Management, Risk Management and much more.

Pros of using EPICOR include:
•    High flexibility to buyers
•    Higher customer satisfaction
•    Solutions for medium size companies
•    Many attractive features
•    Predicts improvements in a project
Cons of using EPICOR include:
•    People not living in North America will suffer as some of the features are specifically for the North American people.

•    SAGE

It is easily used by all Windows users and provides great support in business management and has additional e commerce features. It has low implementation cost compared to other ERPs. There are many versions of Sage like Sage MAS 90, Sage MAS 200, Sage MASS 200 SQL and Sage MASS 90 Small Business.

Pros of using Sage include:
•    Simpler
•    High performance
•    Uncomplicated user interface
•    Easy integration
•    Fast configuration
•    Adaptability
•    Light weight and easy to personalize.
Cons of using sage include:
•    High cost of ownership
•    Expensive to maintain
•    Implementation may require a lot of time and resource.

The GP stands for Great Plains. It is a standard ERP product and was launched with two editions, namely; professional edition and standard edition. Professional edition is for unlimited users where as standard edition is for less ten users.

Pros of using Microsoft dynamics GP include:
•    It has many modules
•    Some rare features like collection management, business protocol, analytical accounting feature are available.
•    Website can be created through it using the Microsoft share point tool.
•    Provides forecasting and budgeting.
•    Has reminder dates and follow ups
•    Generates reports on external and internal basis.
Cons of using Microsoft dynamics GP include:
•    Suitable for business with less customization.

•    Net Suite

It is mainly used by small business; many customers prefer using NetSuite who previously used Sage. NetSuite is a on demand software. It can be integrated and used with other hosting locations. It can also be integrated with different designs, platforms and technologies.

Pros of using NetSuite include:
•    E commerce features
•    Web based solutions
•    Faster implementation
•    Attractive solutions

Cos of using NetSuite include:
•    Low flexibility
•    Limited functionality
•    Weak back up data centre
•    Expensive solutions

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