Enterprise Resource Planning (ERP) helps to integrate and manage an organization's core business processes. It is a software system acting as a central nervous system, connecting functions like finance, human resources, supply chain, and manufacturing into a single, unified platform. ERP systems provide a single source of truth, automating workflows and offering real-time data to improve efficiency and decision-making across the enterprise. Compare ERP tools based on verified user reviews and ...
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Enterprise Resource Planning (ERP) systems are platforms that handles all the resources required to make, ship, and account for customer orders. It does this by integrating all the information flowing through the various departments of a large complex organization.
ERP traditionally involved many different processes, such as manufacturing, supply chain, and accounting. ERP systems have also expanded beyond their original business functions to include newer functional areas like Business Intelligence (BI), CRM and Marketing Automation, and eCommerce. As a result, modern ERP can benefit a broader range of companies than the traditional manufacturing-centric users.
The entire data flow across these functions is enabled by a central database that manages the data flow. All functions see and operate with the same data. This unified view of a business’s data mitigates discrepancies across departments and business units and makes financial processes more efficient.. For example, adopting an ERP system can streamline accounting and financial reporting and resource planning.
ERP systems have a very broad range of capabilities, including:
Traditional ERP systems are complex, expensive proprietary products. They usually require consultants to implement them according to a company’s specific requirements and are long, expensive processes.
Many ERP offerings are now available in a SaaS (software as a service) model through the cloud. SaaS ERP products outsource most or all of the IT burden and maintenance costs to the software provider and off of the business using the system. Cloud-based ERP also make updates and upgrades easier to implement and deploy.
Cloud ERP is a more accessible option than on-premise ERP for many SMBs. For smaller companies, the total cost-of-ownership of a cloud-based system is likely to be lower than for on-premise software.
To compare different enterprise resource planning systems, consider these factors:
There is such a variety of products in this category that pricing varies widely. Many products, particularly cloud-based ERP, are priced per user with some base per/month cost for the software itself. Costs per user can be around $7,500, but are usually customized to each deployment.
One major factor is whether to deploy an on-premise or a cloud-based system. Over the course of a year, subscription fees for a cloud-based system are typically about 20 to 30 percent of the cost of a similar system’s perpetual license. Additionally, an on-premise deployment will incur support and maintenance costs which are between 10% and 20% of the original licensing fee.
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There are some ERP products tailored to specific verticals, such as manufacturing or construction. There are also 3 types of ERP deployments: on-premise, in the cloud, and as SaaS.