ERP stands for enterprise resource planning. It is software that businesses use to handle day-to-day operations.
ERP solutions avoid data duplication and ensure data integrity with a single source of truth by gathering an organization’s shared transactional data from numerous sources.
ERP systems are now essential for managing thousands of organizations of all sizes and in various sectors. ERP is as necessary to these businesses as electricity is to keep the lights on.
Would you like to learn more about how companies use ERP software? Then have a look at some of these ERP software examples.
Here Are 5 ERP Software Examples?
ERP is used in many business sectors. Here are 5 ERP Software examples:
- Retail
- Manufacturing
- Healthcare
- Hospitality
- Construction
Let’s unpack each a little.
Retail ERP
The adoption of ERP software in retail is particularly beneficial in keeping up with rising client demands. For example, sales associates and account managers can easily access their cross-channel data by merging ERP software with CRM software. In addition, your team can assure appropriate stock levels by viewing warehouse levels in real-time.
Manufacturing Management
Manufacturing companies are increasingly benefiting from ERP software. Finance, purchasing, production, and operations teams may easily communicate utilizing a cloud-based ERP. 48% of manufacturing executives believe industry-specific software would help them run their businesses more efficiently.
Depending on the work at hand, teams can create bespoke alerts, dashboards, and modules. For example, operations and production teams can set up alerts for low inventory levels, damaged machines, and recalls, while finance departments can create unique reporting and estimates. Recall warnings can be issued to every affected customer and vendor when used in conjunction with a CRM. Furthermore, sales teams can engage with warehouse teams to ensure inventory correctness in real-time and realistic customer expectations.
ERP in Healthcare
A healthcare ERP software system can assist with day-to-day tasks, such as procurement and sourcing of essentials. In addition, processes for payroll, utilities, and waste management can be improved. According to data from HIMSS Analytics, hospital ERP software use increased to 38% in 2018 from merely 18.8 percent a decade before.
Hospitality Software
Accounting solutions in ERP improve the management of finances across the healthcare system. For example, an ERP software system with key metric analyses, such as quality of care vs. cost of care, combined with business intelligence tools.
Construction Uses ERP
You can have all of the necessary tools to manage a project’s lifecycle by merging diverse systems into an ERP solution. This is critical since poor document management, scheduling, and accounting software can cause construction projects to be delayed and the company’s growth. In addition, if unexpected conditions develop, the lack of integrated software solutions could be detrimental to the construction project.
These are only 5 sectors that ERP is used in. There are many others. If your industry is not in this article, that is not to say there is not an ERP solution for you. IFS ERP is standing by to help you choose the best ERP software.
Take a Step Forward
Sitting down and mapping out your ERP requirements is the first step toward determining which ERP is best for your company. Is scalability the goal? Do you want to get rid of your old platforms? Would having a 360-degree perspective of operations be beneficial?
In all of these areas, an ERP can help and will assist you in creating your ERP roadmap.
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