Discover the different types of ERP software

Your business has started to grow and your multiple software programs have become cumbersome and chaotic to manage. Errors, data duplication and lack of internal communication occur frequently. Or maybe it's the other way around: your business is stagnant and you want to implement changes to stimulate growth. Read on to discover the different types of ERP.

An enterprise resource planning (ERP) system is a business process management software that provides a system of integrated centralized applications that help with the automation and management of a wide range of business activities, such as human resources, sales, customer service, accounting and inventory control.

An ERP serves as a unified database for the entire enterprise and has a modular structure. In addition, one can now be installed in any type of business or company thanks to the advantages of digital kit.

The core objective of ERP software is to streamline business processes, increase efficiency and improve communication between departments within an organization. The main benefits of ERP include improved reporting and planning, data visibility, efficiency and automation of manual processes.

Data visibility is often the primary reason companies choose to implement an ERP solution. By seeing your company's key business data on a single platform, you can make better informed decisions, plan your budget effectively and create long-term goals. Data visibility is beneficial across all departments, but is especially effective and useful in finance.

ERP software provides comprehensive and flexible reporting tools that can be customized to meet your needs. Optimized reports can make your organization react faster to complex data requests.

To make your operations more efficient, an ERP helps automate manual processes such as generating financial reports, creating invoices and handling routine communications. Properly configured ERP software can complete these activities automatically.

In addition to providing data visibility, reporting and process automation, an ERP system is vital to a company's internal communication, especially if the company consists of many departments that require constant interaction with each other. When each department has its own system that no other department can access, it creates additional steps in the workflow. It decreases efficiency while increasing the time to complete tasks.

A workflow with such a decentralized system often looks like this: one department needs data stored in another department's system. They send a request to access that data and are asked to provide manager approval. After the manager gives approval, the second department duplicates the data in its database and shares it with the first department.

When a company uses an ERP system, departments can retrieve the necessary information without hindrance because they have access to various modules.

Types of ERP systems

There are approximately 250 different types of ERP software solutions currently on the market, making it time-consuming to review them all to find the one that best suits your company's needs. Below, we suggest ERP systems to consider based on the types mentioned above to help you in your search.

Custom, off-the-shelf, and hybrid ERP

Custom ERP software is created by the ERP development company of your choice according to your exact requirements and to suit your business processes.

A ready-to-use ERP is a pre-engineered ERP software package. The main off-the-shelf ERP software products are Microsoft Dynamics, SAP Business One, Acumatica ERP and Oracle EBS.

A hybrid model is an option when you already have an existing ERP solution, but want to develop new modules or integrate custom functions.

On-premise and cloud-based ERP

When thinking about implementing enterprise resource planning clinic software, it is crucial to analyze whether you want an on-premises ERP or a cloud implementation. Cloud ERP systems are becoming increasingly popular. Almost every ERP vendor offers a cloud-based solution. However, there are still a couple of valid reasons why companies may choose an on-premises solution.

Generic and industry-specific ERP

Should you choose generic or industry-specific ERP? This is another crucial thing to consider before implementing your ERP. While a generic ERP system is usually more affordable upfront, an industry-specific ERP can be a beneficial contribution to your company's future, as such a solution offers many features that can meet your company's needs.