WHY ERP IS IMPORTANT FOR YOUR INDUSTRY?
WHY ERP IS IMPORTANT FOR YOUR INDUSTRY?
ERP or Enterprise Resource Planning are invested in by brands that are looking to manage their resources, this fact has been stated enough times. There is a need for every brand to acknowledge that need for assistance to manage their plethora of activities via a centralized and integrated system. From internal processes of manufacturing to distribution, every industry offers different factors and traits and hence, every industry has a different ERP.
If you are healthcare company or a construction company, firstly, not all the companies are equipped with the power to have ERP software with its required need of a team who has the knowledge to work with the software. Secondly, as mentioned above, every industry is different even though a company has the same operations for manufacturing, financing and they might have different requirements and thus require ERP software.
An Insight into the Transformation of ERP
Well, ERP was a term that was coined around 40 years and majorly had its roots in the manufacturing sector where it was used to describe the MRP systems. These systems were available to manage things like accounting, human resources and more. Today, however, ERP industry has undergone major changes and many professionals do ask the question “What industries use ERP software?”
ERPS IN DIFFERENT INDUSTRIES, FIND THE BEST FOR YOUR BRAND
In such a scenario, whether one has a non-profit organization that needs to smooth out its process or a healthcare institution, here is a list of industries that are better off because of ERP software.
- Healthcare Industry:
An industry that is diverse with different types of organisations and their elements like regulations to costs, healthcare industry is in a unique position that can be helped by ERP software. In a healthcare organisation, there are many activities that are required to be managed including patient care, payroll, and supplies control, compliance where ERP software can help whether one has a small/medium organisation like a growing private practice or a large organisation like a leading hospital in need of operational assistance.
Vendors offering best ERP in the healthcare industry are Mckesson, Intacct, Infor, Healthland, Harris Enterprise Resource Planning, Evident, and SAP.
- Hospitality Industry
Hospitality management system in India is evident in stiff competition and it is becoming essential to recognise the need at the core of the brand’s management with ERP to enable an organised and responsive performance of daily activities. In a hospitality organisation, there are so many moving elements that one has a high chance of losing a client if even a single part is not in sync to offer the best service to customers. The automated workflows of ERP software can help save time and reduce stress.
The best ERPs of the hospitality industry that can streamline their operations are Oracle NetSuite ERP, Marg ERP 9+ Software, Tally.ERP 9, PACT ERP, ERPNext, CREST ERP, CBO, and Deskera ERP Software
- Professional Services Industry
Many organisations opt for the professional services to be availed for optimum efficiency and ERP software helps professional services in several areas. This software allows efficiency in keeping a record of expenses and capturing employee data in efficient ways. Ultimately offering the organisations with a plethora of benefits like a reduced billing cycle, low costs, increased profits and controlled inventory.
The various types of industries are still well catered to by ERP software, with manufacturing ERP vendors often creating specific products for specialized industries, which we’ll discuss shortly. But in recent years, ERP has also branched out to support industries only partly related to manufacturing, and in some cases, completely unrelated to the production of goods.
The best ERPs of the professional services industry are: Microsoft Dynamics GP, SAP Business One, NetSuite ERP, and Oracle E-Business Suite
- Manufacturing & Distribution Industry
Various needs keep on rising in the global economy which is constantly changing. The most essential part of the ERP software in manufacturing and distribution industry is that it enables distributors and manufacturers to keep their cost, supply chain and inventory under control, to overcome the competition and keep in sync with the customers.
From centralising workflows such as sales analysis, inventory management and supply chain management to providing modules designed to accommodate most production cycles, the ERPs integrates all facets of an operation, including product planning, development, manufacturing processes, sales and marketing.
The best ERPs for manufacturing include Epicor ERP, NetSuite ERP, IQMS, Plex Manufacturing Cloud, Oracle ERP Cloud, Microsoft Dynamics NAV, Infor CloudSuite Industrial, and SAP Business All in One.
- Non-profit Organizations
There can be numerous signs that your non-profit organisation may showcase as it may also need ERP just like the for-profit organisations. In an NGO or non-profit organisations, the challenges are more, be it legal compliance or workforce performance. For efficiency and compliance reasons, they need to keep track of employee performance, delivery of orders, different processes, and the integrity of their databases.
As a non-profit organization grows, the technology can help one maintain control over activities and programs and keep the information secure. Thus, investing in ERP software helps bring together disparate activities and streamline various processes along with increasing the agility of processes throughout the organization.
Best ERPS for non-profit organization are Boardable, Award Force, Raklet, Donor Perfect Fundraising Software, Blackbaud Fundraising, Salsa CRM, and Charityproud
- Construction Industry
In a competitive and challenging market environment in which the use of material resources and a high degree of flexibility in project management are very important ERPs in construction industry have been easing the processes and offering solutions like optimizing planning, streamlining project management, facilitating cost & revenue estimation, simplifying the exchange of information, and improving the decision-making process.
When it comes to eliminate manual, time-consuming and labour-intensive processes, control expenditures for raw materials and employees, reduce IT costs, get rid of unnecessary downtime, and meet project deadlines, ERPs can help construction companies as the ERPs of construction companies by assisting them in streamlining their operations with automated workflows, not to mention inventory management so that supervisors can focus on their job at hand, not drown in paperwork.
While it requires investment of both time and money, ERP is an effective tool which has been crafting various solutions for business environment, leadership, and end-users determine the ROI of an ERP system along with the project planning, methodology, and implementation. If you are a part of any of the mentioned industries, investing in an ERP depending on your needs is a option one should avail if they are you have versatile in nature of ERP software allows companies across industries to implement solutions.
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