Tag: Midmarket ERP

eresource ERP HRM improves employee collaboration, business processes

When an organization deploys ERP solution expectations are bound to run high as all the manual processes are automated, production scheduling is more efficiently managed and inventory is more accurately assessed. We have time and again emphasized the objectives of eresource ERP. Our prime objective is to give the effective Midmarket ERP solution which after implementation can measure the business performance more holistic fashion than ever before. Our system gives executives real-time visibility into all business processes, enabling them to make better strategic decisions. In short, with eresource midmarket ERP system company can compete more aggressively in global markets. Implementation of eresource ERP can reduce costs in three primary categories such as inventory costs, manufacturing operating costs and administrative costs. Our system has its fingers in all aspects of running a business; its benefits are myriad and go beyond tangible cost reductions. It can improve an organization’s customer service and response time when solving issues. It can solve issues of interoperability among multiple manufacturing locations. It can standardize and accelerate manufacturing processes in all of a company’s manufacturing sites. It can streamline a manufacturer’s order-fulfillment processes. It can facilitate connecting with partners’ and suppliers’ enterprise systems. Also Read – An exclusive ERP system for MEP contractors The biggest advantage of eresource ERP is that it is fully web-enabled ERP solution. eresource allows software capabilities to be easily connected and reused, making it quicker and cheaper to assemble, deploy and sustain enterprise-grade technology. With eresource, organizations can more quickly adapt to changing business processes. Several midmarket enterprises have already implemented eresource ERP started enjoying the benefits out of it. The latest and greatest thing to hit midmarket ERP is on-demand delivery of ERP applications. eresource ERP also offer on-demand in addition to filtered ERP options. Filtered ERP or subscription-based pricing of eresource ERP solution will be particularly appealing to midmarket organizations with minimal IT budgets and on-site resources. They can also help organizations react more quickly and with less disruption to structural changes within the company and changes in the market. What is to be cautious about the selection of an ERP system is, before you commit to any ERP system, you should first evaluate the system such as what your organization needs and wants to accomplish with its ERP strategy. The outcome of this evaluation will help you determine which applications and what kind of functionality your organization requires as well as go a long way toward easing the implementation   Also Read – Best ERP system for trading distribution business

ERP is an essential application for business growth

ERP Application for Business Growth The latest reports shows that majority of the midsize organizations are using ERP to support a variety of business issues, including globalization, lean manufacturing, conducting e-business, consolidation, shared services, collaborating with suppliers and meeting the requirements of new customers. Further studies reveal that very few midsize companies that don’t already have an ERP implemented are facing numerous problems in their production and sales departments. For those businesses, the reasons to take a leap into ERP, which is largely considered necessary infrastructure for midsize companies, are many and compelling. Many midsize companies cited the availability of low-cost options; pressure from the parent company, suppliers or customers; “explosive” growth; compliance with regulatory requirements; and a “disastrous event” as factors convincing them of the value of ERP. Just implementing an ERP system alone wont’ do any miracles. To get the most benefits from an ERP application, an organization has to use it to its fullest capabilities. But surprisingly this is not happening with every case. Considering the expense of acquiring and deploying an ERP package, in most of the cases it is being underutilized. As per the available survey reports from the market, the average midsize company uses only about 11 out of 24 generic ERP modules, or approximately 72 % of the available functionality. Today the ERP market is sufficiently occupied with some effective and efficient ERP products apart from the more popular Oracle and SAP, that are dominating the market among large global companies. But it’s not an easy fight – several vendors that cater to the midmarket are entrenched, including Infor, Lawson Software, Epicor Software, QAD, Sage Software and Microsoft apart many others. On the other hand some of underplaying mid-market ERP vendors offers their business-management applications on a modular basis, so they usually can be deployed individually and integrated as more ERP modules are phased in. What is more important is the investment in ERP solution which should be planned efficiently. ERP is somewhat expensive, and the cost is highly variable depending on the organization. Company size, number of ERP users, the depth and breadth of purchased functionality, and the business benefits gained from the ERP deployment all contribute to the TCO (total cost of ownership) of an ERP package. As midmarket companies extend their reach into markets around the world, they require increasingly sophisticated systems to support and run their business. With ERP, they can use enterprise-grade technology as a competitive weapon, managing costs, introducing efficiencies throughout the supply chain and manufacturing processes, and streamlining and automating business processes across the organization. For some companies, ERP can mean the difference between success and failure.   Also Read – Benefits of ERP Software in the pharma sector

Selection of right ERP holds key to success

ERP Selection How to select the ERP brand perhaps becomes difficult today. Most of the time budget was the main criteria for elimination round and then companies used to see the live customer list of ERP vendor. We can very well say that the ERP buying decision is like any other procurement decision. For example, when a buyer purchases bearing, normally he analyzes quality, cost, service and response time to choose the particular vendor. All these parameters were applied in ERP buying also. In fact, a few ERP vendors have come up with industry specific solutions, which, in the true sense, Is more of a marketing strategy than an operations specificity. Secondly, because of the very competitive environment and market saturation, ERP vendors have decreased their prices and hence the SME segment is also aspiring for such world-class solutions. While selecting the ERP brand, the focus should be the availability of the best practices or the world-class practices in the software. If we examine closely, we find various ERP products are strong in various functional modules. This strength could be in terms of availability of various planning opinions, tight control on orphan processes, excellent functions flow, easy and user-friendly reporting, graphical presentation, automatic routing through world-class valued added processes. The problem is how to know which ERP is strong where and how that will synergize the client’s business results. To solve the first question, to some extent, we can refer literature in the form of reports and articles. The commercial presentation of the ERP vendor and later discussions may help further. The commercial presentation of ERP vendor and later discussions may help further. The main question is which strength one should look for. This problem has to be handled with a detailed case study of the organization. From the strategic point of view, the organization has to understand the vital processes for the revenue impact as well as the bottom-line. Thus efforts should be directed to find the thrust area with proper reasoning. Accordingly, one can match the requirement with the strengths of ERP to proceed further. It is also observed that some clients go for multiple ERP products to get equipped with all the strengths available. ERP packages have different architectures, concepts and sets of functionality and they are designed to address a variety of user requirement. The marketing literature from ERP vendors will no doubt give the impression that their tool is just as good as any other. Such literature is valuable for giving the reader an overview of functionality and a glimpse at the differentiator for that vendor’s offering. But, if you compare the literature or listen to a vendor’s presentation, it would be very difficult to evaluate which package is the best or which would be most suitable for your organization. So if you go by what is written in the product brochure or what the salespeople say, you will find it very difficult to make a decision and might end up with the wrong choice. So ERP package selection is something that should be done on a systematic and scientific manner. While studying the history of ERP packages and finds out how each package evolved, it becomes evident that every ERP package grew out of the experience or opportunity of a group of people working in a specific business who created systems that could deal with certain business segments. It is generally accepted that most ERP packages are stronger in certain areas than in others and each one is trying hard to add functionality in areas where they have been lacking. So after the decision to go for an ERP package is taken, the company needs to develop the ERP selection criteria that will permit evaluation of all the available packages on the same scale. To choose the best system, the company should identify the system that meets the business needs, matches the business profile and identifies with the business practices of the company. It is impossible to get a system that will perform, exactly as the company does business, but the aim should be to get the system that has the least number of differences.   Also Read – Best ERP Software In India

ERP benefits for the midmarket businesses

Businesses all around the world are increasing their reliance on ERP systems as a cost efficient alternative to their software applications. However, high cost involved in deployment of this marvelous technology prevents the small/mid size organizations enjoy the tremendous benefits of ERP. Since the introduction of an affordable, low-cost ERP from eresource ERP, many of the midmarket organizations also started to administer their businesses effectively using this latest technology. An ERP package should provide an organization with a solid foundation, incorporating all of the fundamental aspects of running a business. Expectations run high when an organization deploys an ERP package – if the solution is a good fit for the company, the company stands to gain tremendous cost savings and service improvements across the enterprise. Manual processes are automated, production scheduling is more efficiently managed and inventory is more accurately assessed. Also, business performance can be measured in a much more holistic fashion than ever before. This gives executives real-time visibility into all business processes, enabling them to make better strategic decisions. In short, with the right ERP package, a midmarket company can compete more aggressively in global markets. According to a survey an ERP implementation can reduce costs in three primary categories: inventory costs, manufacturing operating costs and administrative costs. The survey’s best-in-class respondents reported a 21 percent decrease in inventory costs, a 17 percent decrease in manufacturing operating costs and a 16 percent decrease in administrative costs. The average respondents’ reductions were 11 percent, 8 percent and 9 percent, respectively. Because an ERP solution has its fingers in all aspects of running a business, its benefits are myriad and go beyond tangible cost reductions. It can improve an organization’s customer service and response time when solving issues. It can solve issues of interoperability among multiple manufacturing locations. It can standardize and accelerate manufacturing processes in all of a company’s manufacturing sites. It can streamline a manufacturer’s order-fulfillment processes. It can facilitate connecting with ‘partners’ and ‘suppliers’ enterprise systems. ERP can even help an organization maintain compliance with government regulations, from hiring practices to environmental laws. Case studies done on specific ERP implementations reveal a variety of different business-specific benefits. One of the case studies revealed that by replacing legacy systems with an integrated ERP package, one travel-accessories manufacturer reduced its inventory levels by 30 percent, reduced its warehouse space requirements by 38 percent, improved its month-end close process by five days, reduced its DSO (Days Sales Outstanding) by 44 percent and increased sales by 100 percent without hiring new employees.   Also Read – Best ERP Software for Construction Industry

Basic Features of ERP

Basic Features of ERP Comparing mid-market ERP packages is not exactly an apples-to-apples type of exercise. Each vendor wraps its mid-market offering with different functionality, tailored to the needs of the kinds of companies the solution is intended for and based on the vendor’s particular areas of expertise. However, almost every mid-market ERP suite shares several basic features of ERP modules: BI, CRM, Financial Management, HCM, Manufacturing Operations and SCM. The differences among solutions tend to be quite granular within these modules. Also, even if different packages offer the same feature – say, sales-order management – it might not be bundled in the same module; some vendors include sales-order management in their CRM suites while others package it in their SCM suites. Key to an ERP package is tight integration between modules, so that all of the core business modules are related. For instance, manufacturing operations are integrated with customer service, logistics and delivery. Also Read – Advantages of ERP solution in printing industry   Basic Features of ERP Software are: • Business Intelligence One of the newer components of most modern mid-market ERP packages, BI shines a bright light into the heart of a company’s performance. In general, an ERP suite’s analytics or BI tools allow users to share and analyze the data that the ERP applications collect from across the enterprise from a unified repository. The end result is more informed decision making by everyone from executives to line managers to human-resources professionals to accountants. A variety of automated reporting and analysis tools can help streamline operations, as well as improve an organization’s business performance. With greater control and visibility of data across the enterprise, business leaders can better align the company’s operations with its overarching strategic goals.   • CRM (Customer Relationship Management) CRM has long been a core component of any ERP offering, giving manufacturers a way to improve customer service by pulling together tools to fulfill customers’ orders, respond to customers’ service needs, and often, create marketing campaigns to reach customers. Most vendors include sales tools to provide customers with sales quotes, process their orders and offer flexible pricing on their products. Another important CRM component is service management, which may arm customer-service agents with scripts for talking to customers, as well as allow them to authorize product returns and search a knowledge base of support information. The third main component is usually marketing, which may include tools to manage campaigns, create sales literature and develop a library of marketing collateral. Additionally, CRM often has tools for account management, SFA, and opportunity or lead management, as well as self-service tools for customers and an e-commerce storefront builder. Also Read – ERP Software streamline the cosmetic manufacturing process?   • Financial Management Of all the ERP modules, the financials applications tend to be the most frequently utilized. Across the board, these include general ledger, accounts receivable and accounts payable, billing, and fixed asset management. Because many mid-market companies deploy ERP to support efforts at breaking into global markets, it is imperative that their ERP packages support multiple currencies and languages. The financial-management applications may also include tools for creating and adhering to budgets, cash-flow management, expense management, risk management and tax management.   • HCM (Human Capital Management) For the most part, the HCM module includes tools for human-resources management, performance management, payroll, and time and labor tracking. Some vendors also provide functionality for administering benefits, managing compensation, dealing with salary taxes, recruiting new employees and planning workforce needs. Some also include self-service tools for managers and employees. Even though HCM is generally considered core ERP functionality, some vendors offer it as an add-on module. Also Read – ERP Software in India   • Manufacturing Operations The manufacturing module is where much product differentiation happens, including industry-specific functionality. In general, these applications are intended to make manufacturing operations more efficient and simple. Most vendors support different modes of manufacturing, include configurable product capabilities, perform different types of job costing and offer a BOM (bill of materials) tool. Applications often include PDM (Product Data Management), CRP (Capacity Requirements Planning), MRP (Materials Requirements Planning), forecasting, MPS (Master Production Scheduling), work-order management and shop-floor control.   Also Read – How can cloud ERP help solar installers reduce soft costs?