Deciding which technologies your businesses should and shouldn’t invest in is difficult, to say the least. On the one hand, you want to be the one responsible for innovation and growth within your company. But you also don’t want to be the one to pull the trigger on a failed project. So, is an ERP software investment worth the risk? To find out, you need to weigh the benefits of ERP, specifically how ERP system advantages and disadvantages breakdown when compared against each other.
Enterprise Resource Planning
Discrete ERP Market Guide
According to Statista, the ERP market is expected to reach almost $85 billion in 2021. As ERP software technology becomes more affordable and the manufacturing sector more competitive, manufacturers of all sizes are increasing their efforts to adopt enterprise resource planning (ERP) technology. For some manufacturers, this means adopting a discrete ERP. The main reasons for the high acceptance of ERP will be discussed further below.
The ERP Market: Studying the Changing Trends
The last year was a pretty dynamic year in the ERP software market, with some of the largest manufacturers like SAP ERP growing, while maturing startups have taken market share away from other companies. Overall, the ERP market size is predicted to reach $41.69B by 2020 according to Allied Market Research.
ERP Software Trends: What You Should Know for 2019
An ERP software system is often one of the biggest investments a company will have to make. Not only is it a major financial decision, but an effective solution can impact all parts of your business, like human resources, accounting, manufacturing, marketing and more. As such a critical component of business, buyers should research not only what’s currently available, but also what ERP software trends are coming down the pipeline.
To help our readers out (and sate our own curiosity), we spoke with several leaders about what ERP trends we might see in 2019 and the years to come. Between a movement to the cloud, disruption cycles, competition from Amazon and more, it looks like 2019 is shaping up to be an exciting year for ERP.
What is Project-Based ERP?
Experts in software are continually asked, “Is ERP dead?” But frankly, this question isn’t very useful. As the disruption cycle shortens, ERP software vendors are continually adding the features and functionality their customers need to succeed. While one ERP may be ineffective for your company, there’s likely another that could be very beneficial. For instance, many businesses that don’t find traditional ERP useful are looking towards project based ERP.
ERP RFP Template and Step-by-Step Guide
According to a 2018 report from Panorama, 28 percent of respondents described their ERP software implementation as a “failure.” What’s more, that’s a two percent increase in the rate of reported failures from their study in 2017. While nobody has all the answers on why the failure rate is so high, one reason may be that businesses simply don’t have enough information to make an educated decision.
8 Reasons Why ERP Systems are Important in 2019
With the global ERP software market expected to be worth $41.69 billion by the year 2020, the impact of these systems is evident. While that number is impressive, those who’ve never used the software may find it difficult to understand why ERP is important to their business. But as globalization squeezes the market for many industries, it’s essential to seek out any and all tools to give your business a competitive edge. For many companies, this is achieved through the use of ERP software.
Process Manufacturing ERP Software Market Guide
Although the manufacturing industry employs far fewer Americans than it did 50 years ago, there are still sectors thriving and even experiencing substantial growth. Interestingly, most of these sectors belong to the process manufacturing sphere. As the name implies, process manufacturing refers to the processing as well as combination of raw materials and ingredients to create finished products. To deal with the specific challenges in this field, many businesses turn to process process manufacturing software.
11 Manufacturing KPIs Your ERP Software Should Track
As you likely know, manufacturing is one of the biggest industries around the globe. According to The World Bank, manufacturing added over 12.3 trillion USD in value globally in 2016. While there are many industries within manufacturing, there’s still an enormous amount of competition and pressure to produce goods quickly and cheaply. However, the right manufacturing software (ERP) can help your company track manufacturing KPIs.
BPM vs ERP
According to a 2018 BPTrends Report, 93 percent of companies are involved in multiple efforts to improve their processes. However, only 50 percent of those using a BPM software reported satisfaction with the tool. It’s possible that the other half of BPM users would be more satisfied with a different way of managing their processes, like with an ERP software. But first we need to understand the full breakdown of BPM vs ERP software.
Compare Best Cloud ERP: Which Systems Win in 2019
In 2019 and beyond, the factors that drive organizations to compare cloud ERP (enterprise resource planning) systems often begin with a few strong focuses. In particular, product quality, production and process monitoring, an increased use of analytics and business intelligence (BI) applications and the need for greater mobility are becoming necessities for companies adopting new ERP software.
ERP Software Selection Criteria, Process and Vendor Checklist
A good enterprise resource planning (ERP) system should have an impact on every single part of your business. These highly sought after enterprise applications help manage activities including planning, research and development, purchasing, supply chain management, sales, and marketing. There are countless ERP software solutions available, so it’s crucial that you make the right ERP choice that fits your organization. But do you know what the ERP selection process looks like?
Don’t worry if you’re not familiar! That’s the very reason we built this ultra-comprehensive, step-by-step guide on how to choose an ERP system. Packed with tips and recommendations, you can use this article as part of your ERP software evaluation checklist.
The Most Important ERP Features List: A Review of ERP Capabilities
Enterprise resource planning (ERP) ranks high among the most comprehensive, powerful data management solutions available. For many businesses, ERP is an ideal solution for data analysis, automation and full-scale infrastructure integration. Yet, with many systems available, each seemingly tailored to different industries, selecting the right ERP software solution can seem overwhelming. But don’t get lost in the sea of bells and whistle, there are a few core capabilities every ERP should offer.
ERP Functions List and Characteristics
There’s definitely a lot of buzz surrounding ERP software these days. You might’ve heard it’s a necessary tool to stay competitive in today’s market. Or, you’ve heard how efficient it can make your business operations. But first, let’s start with something simpler. Enterprise resource planning (ERP) software is a business solution that integrates all your applications and manages your resources. So what can an ERP do specifically? To answer that question, we need to understand the basic ERP functions.
ERP Requirements Checklist and Template
According to Ed Featherson, VP of Cloud Technology Partners, it’s very common for buyers to spend too little time gathering their ERP requirements. Understandably, many buyers focus on how their current processes will transfer over into the new system. However, ERP software is more than a replacement for pen and paper. It’s quite transformative when used correctly, but the only way to do that is to think about that transformation from the beginning. To accomplish this, it’s important to think about everything an ERP system offers. To help you get started, we’ve created an extensive list of the most popular ERP requirements and features.
Distribution ERP Software Features and Requirements Checklist
Did you know four out of five consumers change their mind about buying a product after reading a negative review online? And since there’s not a lot businesses can do to take down bad reviews, providing great service is one of the first lines of defense against them. This makes distribution support, a core type of ERP functionality, even more important in the digital age. Distribution software is critical for getting products out to your customer base in the most efficient and accurate way possible.
These systems manage the supply chain operations that support the final distribution of goods. But what should you be looking for when shopping for a new system? To help you answer this question, we’ve created a checklist of popular distribution ERP software features and requirements. Use it to create your own list of requirements to help you find a solution perfect for your company.
Epicor vs NetSuite
So if you’ve narrowed down your selection to Epicor ERP 10 and NetSuite OneWorld, you’re in the right place. We’ve put together a comprehensive and detailed comparison of the two systems to help you determine with confidence which is best for your business.
SAP vs Oracle
The Most Important Accounting Software Features
Accounting definitely doesn’t have a reputation as the most exciting business function, but that doesn’t diminish its importance. Accounting is the process that keeps the world going, both in business and our everyday lives. That’s why it’s imperative users have access to all the accounting software features they need to get the job done. But what accounting features do they need from accounting software?
Accounting Software Requirements Checklist
Thanks to automation and AI, accounting software is one of the most transformative tools a business can adopt. ClientWhys CEO Lee Reams remarks, “Free from the tedious tasks, accountants will be able to focus their efforts on developing KPI’s, budgeting for growth and assisting in improving cash flow: more CFO like advice without the cost.”
But they’re also simple solutions that exist if you’re not amassing a team of mini-CFOs. It’s really up to you to decide what your business needs from your next system. To guide you through this process, we’ve created an accounting software requirements checklist. Use it to determine which accounting software features you need and which you don’t.
