The evolution of today’s technology happens at a lightning-quick pace, and ERP systems are no exception. What was once an exclusively on-premise solution quickly became a cloud-based subscription service. This evolution from on-premise business software to SaaS product was initially met with some skepticism, but quickly won them over with its enhanced features and greater flexibility.
Let’s step into the Wayback Machine and take a look at how ERP systems evolved into SaaS products.
The oft-repeated phrase “United we stand, divided we fall” is applicable to more than just war movies and superhero TV shows. It’s also a great summation of why ERP software integration is key to running a successful business. As Information Builders puts it: “In every ERP implementation, there comes a time where these wide-reaching, all encompassing systems need to communicate with other 3rd party solutions and legacy applications.” At a certain point, the more you keep your different types of software apart, the more likely it is that data will be inconsistent and your processes will become inefficient. This can lead to confusion between departments and an ineffective workflow (the bane of any business’ existence).
What exactly is ERP software integration? In Layman’s terms, it’s the process of bringing together an ERP system with another type of software to maintain consistent information and automate certain processes. What makes ERP software integration so key is that it provides a single location to find information on everything from ecommerce to HR documents to sales leads, so everyone in an organization stays on the same page.
SelectHubWhat are the Best ERP Software Integrations?
I’ve got one seemingly-simple question for you: how well does your ERP system work? Think about this question carefully — how well does your ERP system actually automate the processes you need it to, and how much manual work needs to be put in for that automation to occur? If the answer involves more manual work than should be necessary, then your business is suffering the same fate as many other businesses at the moment.
The exclusive use of an on-premise ERP is simply becoming outdated as various needs change for both businesses and their customers. That being said, completely abandoning your on-premise ERP in favor of a newer cloud-based solution can involve much more effort and money than it’s worth. The new norm involves adopting a “Hybrid ERP” system.
Financial management software does a lot for businesses. Many of these platforms function as an overall, comprehensive set of resources for figuring out enterprise finances on both a short-term and long-term basis. But there are also specific key things that businesses want out of these software tools.
Michael Shearer7 Critical Functions of ERP Financial Management Software Modules
With ERP software, as with any kind of software product, there are big questions about how to source software platforms, and how to compare vendor options and other choices.
One evident competition is between specifically licensed ERP products and the collection of options known as ‘open source’ ERP software — ERP platforms that are not built for profit by a particular firm, but maintained with open source licensing, often by communities of users.
Michael ShearerPros and Cons of Open Source ERP Software
In the distribution industry, which essentially serves other types of companies, enterprise resource planning or ERP software can have a major effect on many different aspects of the strategies used to serve client businesses.
SelectHubUnique Industry Segments for Distribution ERP
Just like many types of production businesses, service businesses can also use Enterprise Resource Planning or ERP software to help manage business processes and provide their services to customers. However, ERP works in a fundamentally different way for service companies — because there’s no product distribution, and a focus on assistance with some need rather than the shipping of products, services ERP has a different focus, and a different set of goals. In addition, the design of ERP for each segment will also differ significantly.
Enterprise Resource Planning software can provide specific applications for many different types of manufacturing businesses. Manufacturing is not a monolithic field — it consists of a whole multitude of different types of production businesses that all function in their own separate ways. Here are some of the specific categories of manufacturing that benefit from the use of ERP tools and resources.
SelectHubUnique Industries Served by Manufacturing ERP Solutions
Enterprise Resource Planning software offers a range of solutions for retail, including point-of-sale or POS software, and other aspects of product handling and sales support software for businesses. Here are some of the specific types of retail sectors where ERP lends a helping hand.
SelectHubERP Retail Software Changes The Game for These Industries
The worldwide market for manufacturing Enterprise Resource Planning (ERP) software is valued at $7.3B in 2016, growing to $7.9B in 2018, attaining a compound annual growth rate of 2.5%. Cloud-based ERP systems are the fastest growing segment, projected to reach a 5.5% growth rate per year through 2018 according to International Data Corporation.
Louis ColumbusHow to Compare Manufacturing ERP Software