How To Find the Right ERP Software For Your Business

How To Find the Right ERP Software For Your Business

With the sheer number and types of ERP software, how can a business make sure they are getting the right software for their needs? The answer, in short, is to compare ERP software to find the vendor who has the best software for your business.

The first step a company needs to take when looking for ERP software is to define what business process they need the most help with. If a company is having a problem keeping track of their budget, then investing in a financial management ERP solution could be the answer; instead of purchasing a robust ERP that includes many different modules.

The first step into finding the best ERP software for your company is to define what type of ERP software will best solve your problems. There are five main types of ERP software:

Supply Chain Software

Manufacturing Software

Financial Management Software

Project Management Software

Human Resources Software

Supply chain software is made to help companies streamline their entire supply chain, including managing suppliers, production plants and storage facilities.

Manufacturing software includes features to help companies streamline product design and configuration processes, track and manage product components and automate a company's production scheduling.

Financial Management software contains financial and accounting tools such as general ledger, cash management, accounts payable and account receivable to help companies manage their financial processes.

Project Management software includes tools to help companies with their costing, billing, time and expense management and activity management.

Human Resources software is designed to increase human resource efficiency by eliminating repetitive paperwork which also helps reduce the risk of costly errors. Many HR ERP solutions also includes tool for payroll assistance.

Another aspect to look into when searching for an ERP solution for your business is the implementation process. ERP implementations are often too complicated for a companies IT department to handle, thus requiring the hiring of implementation consultants. There are also Open Source or On Demand ERP solutions that ERP software but hosted on a third-parties server.

Finding the best ERP will take some due diligence on your companies behalf to research the company's need and then researching ERP venders to find the software solution that will best fit your company.

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