5 Enterprise Resource Planning (ERP) Trends to Know in 2018
Enterprise resource planning (ERP) requires many components and many different tools. In this piece, we examine five ways ERP is evolving to make your implementation easier.
Most businesses that have moved beyond the startup phase are likely looking into acquiring enterprise resource planning (ERP) software. Whether you’re trying to get a handle on how your customer relationship management (CRM) efforts are impacting your bottom line, or if you’re tracking revenue from point-of-sale (POS) to research & development (R&D), ERP can be an asset to your company.
Although ERP is one of the older segments of the business software landscape, ERP vendors are consistently evolving to become more powerful, more affordable, and less complex. Mega-vendors such as Oracle and SAP have a major share of the ERP market, but newer companies are nudging their way into the space with Software-as-a-Service (SaaS) options that are changing the game. In this piece, we’ll examine the most important trends to expect from the ERP industry in 2017. Continue reading
Enterprise Resource Planning (ERP) with Musato Technologies
Enterprise Resource Planning is one of the enterprise software offered by Musato Technologies. It can take your business to a whole new level of productivity, profitability, and performance. But it’s a huge undertaking. And after all that effort and investment, you may be left wondering whether it will pay off.
An ERP system is an all-purpose software with modules that manage your key business functions—everything from inventory to finances, human resources and operations. No more struggling to integrate various types of systems in each department. The ERP system does it all.
Here are three steps to help you determine whether your business is ready for an ERP system.
1. Assess your current technology
Musato Technologies will assist your business in reviewing your current systems to determine whether you can make do with them.
Many businesses complain their software isn’t meeting expectations—only to find it’s just suffering from what can be called “application erosion” – the inevitable degradation of software performance over time. We provide our clients with the best and cost-effective ERP systems available on the market.
Failing to do necessary updates and maintenance is often the culprit. Another common problem is lack of employee training.
Companies often skimp on training because they think their employees know how to do their jobs. But if they aren’t trained to work with the software you’re using, they might actually be causing more problems than they solve.
As a result, many companies find all they really need is a remedial implementation of their existing software instead of an expensive new ERP system.
2. Evaluate your future needs
Thoroughly assess your company’s information technology needs over the next several years as indicated by your business’s strategic plan.
Also be sure to involve employees. This will help ensure their buy-in if you go ahead with an ERP purchase.
3. Do a cost-benefit analysis
Define the financial impact of your problems and proposed solutions. How does system performance affect your business? Compare the cost of revamping existing systems versus the ERP option. Be sure to consider how each solution will affect your market share.
Don’t forget to include implementation and training costs. Many businesses underestimate these, but they can be a big expense.
An ERP system may be warranted if you’re turning away business because of a technology bottleneck and if your current systems can’t be improved.
There’s no rule of thumb for how big a business should be to consider ERP. Some fairly large businesses do just fine without ERP, while some quite small businesses find that they couldn’t function without one.
A much more important consideration is the complexity of your products or services. Look at the “depth” of your products (how many components they’re made of) and their “breadth” (how many different types of products you have). ERP systems especially make sense for deep, broad product lines.