Enterprise resource planning (ERP) is a process that integrates important internal systems to help manage the business more accurately with complete accuracy. A typical ERP consists of the major business processes for accounting, CRM, finance, purchasing, sales, marketing, inventory, planning and human resources. For the businesses of all sizes, the ERP software performs the role of central nervous system. It receives data of different activities going on in an organization, makes it available to the section where it can analyze productively. It shares a database that supports multiple functions used by different business units.
A structured approach to ERP can help an organization automate and standardize its business processes and boost operational efficiency. ERP systems integrate all facets of an enterprise into one comprehensive information system that can be accessed by anyone from anywhere with a valid access. There are multiple options to select from when searching for new ERP systems such as-
Software as a service (SaaS) is a software distribution model where the software is hosted in the cloud and accessed via internet. Instead of installing and maintaining software, companies can outsource most of the IT responsibilities and maintain the software the SaaS vendor takes care of it all. There are many well-known examples of SaaS, including Salesforce, Google Apps, Office 365, Citrix GoToMeeting, Cisco WebEx and Netflix.
Cloud offerings are generally platform neutral (any browser) and businesses have the ability to scale resources both up and down as required. A cloud services platform offers quick access to flexible and affordable IT resources. Cloud computing services cover a vast range of options such as standard office applications, networking, storage, natural language processing and more.
On-premises software is one of the most traditional ways of utilizing enterprise and consumer applications. Opposed to running remotely on hosted servers or in the cloud, on-premises software is located within the physical confines of an enterprise – often in the company's data center. It is the buyers who own the perpetual license of On-premise software.
These software products deal with only a segment of the enterprise, inhibiting the free flow of communication and reducing efficiencies. BoB tends to get updated more frequently, therefore, more up to date with the changes of business process.
Just as big ones, the industry of ERP software is accommodating smaller organizations looking to have a world-class solution at a lower cost. There is a clear resurgence of top-notch ERP solutions so that businesses of all sizes could take maximum benefit from it.