Enterprise resource planning (ERP) is the consolidated process of managing day-to-day business activities such as supply chain, accounting, human resources, finance, inventory management, procurement, risk management, and many more. ERP streamlines key business processes to provide intelligence and efficiency across every aspect of a business. That’s why every business needs to use reliable ERP software in Australia to integrate all these processes into a single system.
ERP software is a complete suite of tools designed to help businesses automate business processes via a decentralized system. ERP software comprises different applications whereby each application focuses on a distinct business process. This software comes in handy in many industries including construction, education, healthcare, manufacturing, automotive, and many more. Along with allowing businesses to reduce operational costs, ERP software in Australia improves productivity and unifies nearly every process across an organization.
Types of ERP software in Australia
There are three types of ERP software in Australia based on the deployment model. These include on-premise ERP, cloud-based ERP, and hybrid ERP system. On-premise ERP is implemented in-house and maintained at a physical location under a business’s control. The main benefits of an on-premise ERP system are that they offer greater control over data and allows organizations to enjoy less vendor dependency. Cloud-based ERP, also known as Software-as-a-Service (SaaS) is hosted and managed via a vendor’s cloud platform whereby a business pays subscription service to the vendor. One of the notable advantages of a cloud-based ERP system is that your preferred vendor takes care of the implementation process, allowing you to focus on your core competencies. Hybrid ERP software combines both on-premise ERP solutions and cloud-based solutions. Businesses that leverage hybrid ERP solutions enjoy lower costs and less complexity.
Choosing ERP software for your business needs
The first thing to consider when choosing an ERP system is the kind of functions you need your ERP system to perform. Once you have a clear idea of what you intend to achieve from the software, it will be easy to determine the system that will work best for your needs. Besides, it will help you choose the most reliable vendors if you decide to go for the cloud-based ERP system.
The second aspect to consider when choosing an ERP system is management support and user support. Having the best ERP system without proper management will be a waste of time. Also, the users must be well trained and provided with the equipment they need to achieve successful implementation.
Benefits of ERP software
- Insightful reports: With a reliable ERP system, a business can generate useful reports in various departments which will help to improve performance in real-time. With accurate reports, you can make better decisions that will help you take your business to the next level.
- Improved productivity: ERP software enables businesses to streamline core processes to achieve better efficiency and improve productivity. In addition, businesses can use this software to optimize resource utilization to reduce operational costs and ensure better business performance.
- Better risk management: A reliable ERP system ensures compliance with regulatory requirements and improves agility to predict and prevent risk.
- Improved visibility: ERP provides better visibility into core business processes through advanced resource tracking and inventory management to allow organizations to expand without incurring additional costs.
There are many other benefits a business can gain from using reliable ERP software. The best way to gain maximum benefits from ERP system is to choose one that is absolutely compatible with your business needs.
Some of the top ERP softwares in Australia you may want to consider for your business needs include NetSuite OneWorld, Odoo, IQMS, Sage Business Cloud X3, Acumatica, Oracle ERP Cloud, SAP Business One, and Dynamics 365 ERP.