ERP Software

Top 10 ERP Selection Criteria to Consider When Choosing an ERP System
27Jun-22

Top 10 ERP Selection Criteria to Consider When Choosing an ERP System

Top 10 ERP Selection Criteria to Consider When Choosing an ERP System

ERP is a piece of software that all of our businesses rely on to help us achieve our objectives. One of the most crucial choices we will make is choosing the best ERP system for our company. The choice must be sound.

Here are some criteria for choosing an ERP system that you should keep in mind when making your decision.

When thinking about your ERP selection criteria and how these might affect each element, always keep in mind what your business goals are.

ERP Selection Process

It takes work to choose new ERP software. It takes a lot of time and calls for both internal and external collaboration. Check out our list of the top 10 ERP selection criteria below if your company is considering implementing ERP. It will help you decide which ERP system to choose.

ERP Software

What is enterprise resource planning software, before we get into the selection process for ERP? Accounting and operations-focused business management software, or ERP, enables organizations to manage business processes through a single system. For expanding companies that want to keep and strengthen their competitive edge, ERP software has emerged as the top option.

Top 10 key ERP selection criteria:

  • The Functional Fit For Your Organization
  • Industry Experience
  • Upper Management Support
  • Integration With Existing Systems
  • Budget And Resources
  • The Technology
  • Total Cost Of Ownership And ROI
  • Evaluate And Select Options
  • Post Go Live

ERP selection criteria #1:The Functional Fit for Your Organization

Although it might seem simple, the most crucial (and time-consuming) step in the ERP selection process is determining how the functionality of software products and services fits with your company. Examining ERP software, viewing ERP demos, and meeting with solution consultants are all steps in determining the best functional fit. Internal work is also a part of it. Facilitating internal discussions to identify your business requirements for ERP and identify the functional areas to focus on is one of the most beneficial things you can do during a selection project. Important inquiries like these can help direct the conversation:

  • What about your current system is outdated? Why do you want to switch to a new ERP?
  • What complements your current business systems well?
  • What manual procedures might you be able to automate?
  • What areas of the business lack visibility or struggle to produce accurate business reporting?
  • What additional systems need to be connected to the ERP?

ERP selection criteria #2: IndustryExperience

What ERP software is used in your industry is a good question to ask when choosing an ERP. Even though they are not always industry-specific, some ERP solutions are tuned to work best in sectors like manufacturing and distribution. This crucial query can aid in reducing the number of ERP programmes you consider. Industry is a consideration for both your implementation partner and your software vendor (Oracle, Microsoft, Infor, NetSuite, etc.). It is crucial to know whether the vendor and the implementation partner have had success in your sector.

ERP selection criteria #3: user support

Users of the new ERP will come from every functional area. Make sure their wants and needs are reflected in the list of requirements to win their support. These users will benefit greatly from the success of your ERP implementation, regardless of where they are employed. Inform those users that they will receive the assistance, training, and tools they require to use the ERP and generate value for themselves as well as the entire organisation.Make sure they are aware of the support available to them as they adjust to the necessary changes. They will assist you in using and gaining from your new ERP in exchange for this. Ensure that the documentation users will require is accessible whenever and wherever they need it, and that it is of a calibre to meet their needs.

ERP selection criteria #4: upper management support

This may seem like a no-brainer standard. Too frequently, its significance is not acknowledged. Even if one chooses the ideal ERP for their business, the project will probably fail without the support of upper management. Support involves more than just obtaining funding. Your management should actively demonstrate its support. The manager can stifle progress by offering ambivalent support when a resource from another department is required. You want to feel confident that the manager genuinely supports the ERP even if there is a short-term cost at the time of the decision to support the new ERP or use the existing system.

ERP selection criteria #5: integration with existing systems

The majority of businesses that are choosing an ERP have other systems that serve their needs just fine, so they are not interested in changing other systems in addition to their ERP. How will those systems integrate with ERP is the next question to be asked. There are almost always common data elements. Can ERP access and read the data already present in that other system? Will you permit the same data to exist and how will you maintain compatibility between those independently updated data elements? Will changing the other system to use that ERP data better serve your needs?

With this ERP, what integration tools are included? For sporadic data updates, it should have a simple integration, like.csv files. That kind of update is ineffective and probably moves too slowly for regular use. A more contemporary method of operation is to use XML files and web services to quickly transfer data between systems.

ERP selection criteria #6: budget and resources

What financial resources are there for an ERP system? If you only have $10, your selection criteria must be extremely stringent. According to a 2021 Software Path report, you can anticipate spending around $9,000 per user of your system on average. This is a significant investment and serves as a reminder that choosing an ERP system is a long-term decision. Budgetary considerations include on-going ERP maintenance and support as well as infrastructure-related costs because the majority of ERP systems will be in use for ten years or more. Your decision today will fix costs in upcoming spending plans.

ERP selection criteria #7:The Technology

Other technological factors, in addition to software functionality, are crucial to the ERP selection process. At the very least, top-notch ERP software has the following technological features:

  • Information is easier to access and includes end-user reporting tools; no programming knowledge is required.
  • Simplicity in UI and UX
  • Business Intelligence
  • Data security
  • Trustable system response and performance, and minimal downtime
  • Integration with other systems capability
  • Ability to make necessary customizations

ERP selection criteria #8: ROI and total cost of ownership

Total up all the additional expenses this ERP will cause you to have. The initial purchase price and some initial consulting costs will be involved. Your servers and networks might require immediate updates. While your employees are implementing ERP, you will have to pay for training and temporary staff. While using the ERP, you will incur annual support and maintenance costs.

You will gain from decreases in the cost of performing work at the same time. Because you can now offer your customers services and products that were previously impossible thanks to this ERP, you might see an increase in revenue.

Calculate your return on investment by distributing the costs and benefits over time. Before making an investment, the majority of businesses require a minimum return. Make sure the ROI for this ERP meets your company’s requirements.

ERP selection criteria #9: evaluate and select options

Today, there are other options besides the conventional ERP system, which runs on an on-premises server and is supported by an internal IT staff. Many businesses opt for an ERP that utilises a SaaS framework and runs in the cloud. In lieu of monthly “rental” payments that include the software and the majority of support requirements, the initial investment is reduced.

You can choose a hybrid strategy in which your company owns the ERP but uses shared servers to run it in the cloud.

Open source software is also used widely today in the development of ERP systems. These gain from the software being free or extremely inexpensive to purchase. Since you have access to open-source source’s code, you can completely customise it. Open source ERP is constantly being updated by users, who also report and fix bugs. There is no need to wait for a development company to release a new revision because those improvements are available to all users right away.

ERP selection criteria #10: Post Go Live

Planning beyond go-live will position you for the maximum return on your ERP investment, whether it involves creating an internal support team or finding an external partner (often, your ERP implementation partner will also offer managed support services).

Four Key Ways ERP Software Supports Change Management
9Jun-22

Four Key Ways ERP Software Supports Change Management

Fear of transformation is simply a fear of navigating the adjustment. Successful change management makes the difference between a good plan and a fantastic transition. Management of transition – and change itself – is almost impossible without an ERP all-in-one infrastructure already in place. An organization that relies on a few dispersed legacy computing systems lacks agile internal contact networks. Knowledge will be lost, introducing new business procedures will be time-consuming, and improvements will be replicated into oblivion.

Workplaces are constantly evolving as businesses go digital. Changes are being implemented at all levels, including processes, technologies, and people strategies. Legacy processes are being phased out in order to make the best use of available resources and infrastructure. Such initiatives, however, frequently result in extensive internal process changes that are not always easy to manage.

Change management encompasses all of the steps that businesses take to prepare for and support a business change. These include the various methodologies used to optimise resources, allocated budgets, and existing project operations. However, change management encompasses more than just projects and processes; it also includes employees and how their roles are affected. You must prepare, support, and equip your staff to implement the proposed changes, or they will face widespread opposition.

However, if you use an enterprise resource planning (ERP) system, your change management initiatives will go much more smoothly. Businesses that use ERP software have agile data sharing, which is required for change management. These types of businesses are better prepared to deal with data access and loss challenges during any internal change or transformation. In this article, we’ll look at four ways that ERP software can help with change management.

Making Informed Changes

ERP applications that use dynamic reporting methods demonstrate the need for improvement. Access to business intelligence reports that cover all divisions’ operations will reveal opportunities for process optimization and obligation redistribution. If your company lacks centralised business management software, these opportunities for reform will emerge only when your profitability is jeopardised.

The ERP software changes your company implements will be strategic and supported by detailed business intelligence. Efforts to shift management led by knowledgeable managers would be more likely to succeed than those motivated by a desperate desire to protect the company.

Access to Information

A business case for a change initiative is always supported by data. Businesses that prepare well by collecting, storing, and providing accurate data to all stakeholders are best positioned to successfully implement a change initiative.

How does ERP software help?

All ERP applications share a single database that supports multiple functions. Instead of having separate databases for each department, businesses now have access to a single data source, resulting in increased visibility and streamlined changes across departments. This also allows change agents—team leaders or managers in charge of process changes—to make more informed decisions.

ERP dashboards use color-coded bar charts and graphs to provide visual descriptions of key business/department metrics. To successfully track and measure change processes, it is critical that all employees have access to data metrics. Real-time data improves situational awareness, ensuring that your organization’s leadership and employees always have access to accurate, up-to-date information.

Communication

Another important aspect of change management is communication. Clear communication of a change’s intent and implications is critical to the success of change management initiatives. It’s natural for employees to be confused about how future process changes will affect their current roles and responsibilities if they don’t fully understand them. Employees should also be able to communicate openly with change agents if they have any concerns.

How does ERP software help?

ERP software provides a centralized database that is not limited to a single executive or department. Everyone has access to this data, and all communication can be traced back to a single database. Every department can see the entire system in action and understand their exact position and role within it.

ERP software also ensures that messages are shared consistently across departments such as sales, customer service, production, operations, shipping, and accounting. This ensures that cross-departmental tasks are streamlined and that all business units communicate effectively during change initiatives.

Data Protection

The greatest risk during any process change or internal transformation is data loss, and the majority of this data loss is due to human error. There is also the possibility of sensitive data being duplicated or mistranslated during internal transitions.

How does ERP software help?

Only authorized personnel can change or update data in ERP software. Access controls can be defined by businesses based on user roles. Only authorized users can create, update, and close change tasks assigned to different employees in change processes. In addition, the software keeps detailed audit logs to track what made what changes to the existing data. This ensures complete visibility and the security of business data at all times.

Conclusion

Implementing change management initiatives successfully requires collaboration, and with ERP software, you can streamline process changes with minimal impact on productivity.

To better manage change processes, as discussed in this article, take a few concrete steps, such as connecting all of your data sources to ERP software, involving your staff members to ensure consistent communication, and implementing access control for sensitive data. These steps will ensure that your company and its employees have a positive experience with change management.

PM TRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team.

9 Ways an ERP Solution Improves Supply Chain Operations
30May-22

9 Ways an ERP Solution Improves Supply Chain Operations

Plastic products are always in high demand, and these industries must deliver large quantities of their products. Maintaining heavy machinery,

The distribution and manufacturing industries are constantly being disrupted by digital transformation, putting pressure on organizations to find advanced solutions in order to stay on top of their daily business processes and ahead of their competition. Predictive analytics and the Internet of Things (IoT) have transformed how businesses manage their supply chains And the changes are just getting started.

Supply chain management is critical to an organization’s overall success. Many manufacturers, for example, rely on vendors to provide them with the right type and number of resources at the right time to keep production moving along as planned. However, according to a recent State of Manufacturing report, “97 percent of respondents report that supply chain management consumes a significant amount of employee time.” That being said, if not managed efficiently, supply chain management can be a time-consuming process – just consider the reduced productivity, cause of delays, impacted quality, and unnecessary expenses and profit losses.

Let’s take a step back and consider your organization. Where do you see your company in a year’s time?

Are you benefiting from increased revenue and efficiency as a result of a cutting-edge supply chain, or are you struggling to make ends meet with legacy systems? This is where modern Enterprise Resource Planning (ERP) software can take your company to the next level – by simplifying and optimizing your supply chain management processes for smoother and more profitable outcomes.

Here are nine ways an ERP solution improves supply chain operations:

  • Automate Purchasing Process

Keeping a close eye on inventory is critical to avoiding excess or shrinkage, but this monitoring takes time. Advanced ERP systems with supply chain management capabilities can automate this process. When inventory levels fall below a certain threshold, the user is notified. This allows you to stay informed about the need to replenish stock and place orders with vendors accordingly.

  • Greater Data Insight      

The health of a supply chain is heavily reliant on timely and accurate information. A modern ERP system can store a massive amount of real-time data about inventory, purchasing, selling, financial accounting, employees, and other core business functions. The software also provides users with continuous access to reports, resulting in greater insight into the operations and making supply-demand management much easier.

  • Streamline Core Functions

ERP software is comprehensive management software that integrates and manages various business operations in a supply chain, such as HR, finance, management, and sales, through a single system. This reduces manual paperwork and improves data visibility across the enterprise. Furthermore, the system enables automation, significantly reducing processing and administration-related wait times in the supply chain.

  • Establish Process Standardization

A standardized process is essential for the success of any supply chain strategy. An ERP solution aids in the development of this consistency across teams in single and multiple locations. This improves overall system efficiency, process accuracy and teamwork, and reduces errors caused by miscommunication.

  • Increase Transparency

Implementing an ERP solution provides management with a consolidated view of all aspects of supply chain operations. It provides accurate, relevant, and up-to-date information about a shipment in transit, where it is, and when it will arrive at the warehouse. Additionally, employees in the stores and warehouses can have role-based access to this knowledge, ensuring that consistent and accurate information is shared with all relevant people throughout the organization.

  • Real-Time Inventory Management

Inventory is an essential component of any supply chain setup. Proper management of it can reduce costs while increasing the business’s turnover.

Inventory is traditionally captured using spreadsheets and hand-checked lists. This falls short in terms of providing error-free tracking and up-to-date data. Modern ERP software, on the other hand, includes features that allow for real-time visibility of exact inventory levels. As a result, the supply chain operates at peak efficiency, with lower overhead costs and fewer order fulfillment communication errors.

  • Decrease Delay

An ERP system is a centralized repository for all information. As a result, the tool provides businesses with greater data transparency and enables them to efficiently allocate resources such as material, personnel, and machines early in the planning process. It allows for better coordinated and executed activities, resulting in on-time delivery throughout the supply chain.

  • Raise Cost Awareness

Variable costs occur at every stage of the supply chain. Intelligent ERP systems can generate more realistic cost projections by leveraging supply and demand data. This raises cost awareness among managers, allowing them to identify and reduce uncontrollable factors that incur additional expenses, optimise processes, and reduce operational costs.

  • Upgrade Returns Management

Supply chain processes dealing with returned goods and backorder processing are just as important for logistics companies as shipping products to customers. Returns management is simplified by effective ERP solutions. They enable businesses to have better control over returned products by redoing each process, such as inspection, quality control, packaging, and shelving. A better return management system can help businesses reduce waste and improve backorder processing consistency.

You should now understand how an ERP system can help your supply chain operations. PMTRACK ERP ERP offers ground-breaking features and unrivalled mobility. Click here to schedule a demo or consultation to learn more about how these work.

Posted By Category: ERP Software, PMTRACK ERP
The Top 10 Industries That Should Implement ERP Software
18May-22

The Top 10 Industries That Should Implement ERP Software

Enterprise Resource Planning (ERP) has a lot of potential for helping businesses improve their performance and streamline their operations. It organises the company’s data and aids in day-to-day operations management. It’s similar to juggling macro and micro plans.

An ERP system can provide a variety of operational, strategic, and organisational advantages. Many ERP software companies in Pune are thriving due to their ability to assist a variety of businesses. Let’s take a look at how it can benefit a business.

Why ERP for Industries?

ERP is a central business framework that is fuelled by market characteristics like widespread digital acceptance, booming global trade, and large volumes of data that must be monitored, maintained, and analysed. Industries can benefit from enhanced business reporting, improved inventory costs, increased cash flow, cost savings, and improved customer service by implementing ERP systems. The massive success of ERP software across various industries demonstrates the global demand.

Take a look at the Best 10 Industries where an ERP System is critical:

1.ERP FOR MANUFACTURING

Because the manufacturing industry is so dynamic and competitive, it’s critical for businesses to have an integrated solution that can boost productivity, lower costs, and boost revenue and profitability. Allow the company to make precise, well-informed, and strategic decisions, above all.

The following are some of the benefits of manufacturing ERP software:

  • ERP in the manufacturing industry has potential patterns of 50 percent quick usage, 46 percent increased functionality, and 43 percent total cost of ownership (TCO).
  • 66 percent of organisations have experienced operational disruptions during ERP implementation.
  • The top three reasons for ERP programme implementation are: First, increasing the company’s efficiency (64 per cent). Second, for the company’s growth (57%) and third, for the reduction of working capital (57 per cent).

2.ERP FOR EDUCATION

The replacement of older legacy systems with a unified ERP results in a rapid and quantifiable change in the administration process. The programme offers a variety of resources to help modernise the campus, as well as improve student enrolment practises, lecture sessions, classes, the library, and customer service.

The educational ERP system automates and streamlines all processes within the university’s boundaries to greatly improve the efficiency of allocating and operating academic resources.

3.ERP FOR HEALTHCARE

ERP for healthcare is a technical programme made up of modules that track data and facilitate collaboration between departments within a company. Employees are able to work more efficiently as a result, improving performance and productivity. Furthermore, using hospital management ERP systems improves the speed with which health care services are delivered both internally and externally

4.ERP FOR RETAIL

Retail is nowadays one of the fastest-growing industries on the planet. However, as the market grows, so do the difficulties in managing it. The retail sector is made up of many sub-sectors, all of which must be managed effectively in order to maintain or increase profits. Fortunately, retail ERP may be the answer for the retail industry.

5.ERP FOR CONSTRUCTION

Construction ERP software is a business solution that provides effective analytics by combining data from various construction processes such as accounting/financial management, contract management, equipment/inventory management, human resource management, Customer Relationship Management (CRM), scheduling, and submissions.

6.ERP FOR GOVERNMENT SECTOR

Any useful ERP platform must include comprehensive accounting, warehousing, inventory, and logistical components. However, the implementation of more specialised criteria in ERP in the government sector improves these essential elements for a private sector ERP.

7.ERP FOR AUTOMOTIVE INDUSTRY

Automotive ERP offers a broad range of strong and agile business management skills that can effectively handle and integrate each department of an organisation to ensure smooth information flow. Automotive ERP enables workers to work with confidence while reducing errors, allowing them to meet project deadlines and complete jobs in a systematic manner.

8.ERP FOR FOOD INDUSTRY

The food processing industry is one of the largest sectors in terms of demand, output, and export of food products, and it plays an important role in the economy’s growth. Vegetables, fruits, milk products, mineral water, cocoa products, and other products such as alcoholic beverages, fisheries plantations, meat and poultry are all part of India’s food processing industry.

Benefits of ERP for food industry are–

  • Better quality control at various stages of the manufacturing process.
  • It can handle supplier details from start to finish.
  • It can increase production productivity while lowering costs.
  • Improving supply chain management methods.
  • Meet new specifications and roles to meet the organization’s needs.
  • Accounting can handle a wide range of sales and transactions.

9.ERP FOR OIL AND GAS

India is the world’s third-largest oil and gas consumer, accounting for more than a third of the country’s total energy consumption. As a result, the risks associated with multi-geographic locations are certain to cost any oil and gas company money.

Advantages of ERP for Oil and Gas are:

  • Property control
  • Content and inventory control
  • Document handling
  • Data control
  • Real-time visibility into main processes
  • Process quality improvement

10.ERP FOR REAL ESTATE

In simple terms, with the aid of the latest technologies, ERP software incorporates, streamlines, and automates all business processes such as sales, HR, procurement, inventory, etc.It provides useful and relevant information with the goal of increasing revenue and lowering operating costs.

CONCLUSION

Many ERP projects today are far more competitive than they were previously. With the vast array of cloud software available today. Along with the previously mentioned ERP software benefits, ERP is undeniably important.

Tasks benefiting from ERP system include–

  • Sales forecasting, which allows inventory optimization?
  • The collection of relevant data to provide a chronological history of every transaction in every field of service.
  • Order tracking from acceptance to fulfilment
  • Managing revenue from invoice to cash receipt
  • Matching sales orders, inventory receipts, and costs (what the vendor invoiced)

You must leverage your operating system in order to expand your business. PMTRACK ERP, a Pune-based ERP software company, offers ERP solutions for a variety of businesses and industries. Our systems are built on cutting-edge technological solutions to give you an advantage in your business.

Contact our team for ERP related queries.

Posted By Category: ERP Software
Supply Chain Management Software & ERP Solution
9Apr-22

Supply Chain Management Software & ERP Solution

What is the correlation between Supply Chain Management Software & ERP Solutions?

SCM (Supply Chain Management) is an important role for any company, regardless of size. It focuses on obtaining raw materials, producing finished products, monitoring quality control, and ensuring that the product is delivered to the end customer within the time limit stipulated. Enterprise Resource Planning (ERP) software is required by SCM organizations to ensure that all operations function smoothly and efficiently. It also cuts down on resource waste, guarantees that product dimensions are correct, and ensures that sensitive financial data is promptly accessible to all departments.

Core capabilities of Supply Chain Management ERP software

1. Fully integrated into the ERP system

By providing essential business data in real-time with all stakeholders, everyone will have a single perspective.

  • It’s straightforward to integrate the SCM module with your ERP system.
  • It gives each department a consistent picture of your company.
  • You won’t have to pay individually for third-party integrations.
  • Any connected device can upload crucial business data in real-time at any time.
  • An embedded SCM system adds features like centralized procurement and client order sources to the mix.

2. Simplified order and returns management

With the ERP software’s supply chain management module’s complete multi-site capacity feature, ensure the best customer experience by reducing reaction time and lowering expenses. Furthermore, by permitting a wide range of logistic conditions, this module will enable data connectivity and traceability.

  • Order returns are easier with centralized return capabilities. You can return things regardless of when they were delivered or from whatever corporate website they were purchased.
  • Change management and validation ensure that all entities have a single view across all sites and locations.
  • Automated rule-based sourcing, supplier site availability, CTP (Capable to Promise), and multi-site ATP (Available to Promise) capabilities are all part of a reliable order acceptance method.

3. Supply chain management software benefits

The complex delivery processing, put-away, and pick-up capabilities of supply chain management software meet the needs of customers. Other advantages include

  • To minimize time moving between storage bins, define warehouse routes, wave picking, and storage zones for rule-based put away.
  • Set up mobile scanning systems to save time and resources by reducing human error. Furthermore, warehouse data collection, an advanced SCM tool, enhances accuracy and speed by selecting client orders using barcodes.
  • For shelf life, complete up-and-down traceability, and management of expiration dates, creates serial and batch numbers.
  • To keep critical things close at hand, use frequency and slotting-based put away to increase warehouse space.
  • Ensure proper delivery processing by automating cargo procedures and model departure timetables.

4. Forecasting and planning

The supply chain management module contains key planning and forecasting skills that assist businesses in improving customer service, lowering administrative costs, and increasing ROI. It will also help you with:

  • Effective inventory planning and replenishment. This skill allows you to respond quickly and effectively to changing market trends and customer preferences.
  • Improve your predicting skills by using a range of statistical forecasting models, such as Bayesian, Best Fit, Brown’s level, and others. This function will help you obtain the correct amount of raw materials and produce the desired number of finished products on time.
  • Manage a vast number of parts, materials, and finished products accurately and efficiently. Manual parameters such as service level can be created, and parts can be grouped by lifetime stage and frequency.

5. Built for the demands of the future

By utilizing the supply chain management module to reuse, reduce, and recycle things, you may contribute to the circular economy. In this way, waste can be reduced across the supply chain. Other benefits include:

Check to see if your business practices are ecologically friendly, and keep track of your environmental impact. It is more sustainable for a corporation to operate in closed material cycles.

  • The SCM module’s capabilities include return material handling, condition codes, lot batch tracking, serial tracking, and configured parts, to name a few. Working in closed material cycles ensures your business’s sustainability.
Posted By Category: ERP Software
6 Major ERP Trends For 2021
27Aug-21

6 Major ERP Trends For 2021

From back-end activities like accounting, HR, procurement, and manufacturing to front-office procedures like sales force automation (SFA), marketing automation, and eCommerce, enterprise resource planning (ERP) solutions have evolved and expanded their scope to serve most company functions. Businesses use ERP to not only save money by removing redundant procedures and automating mundane operations but also to give employees access to crucial data so they can make better decisions faster.

ERP systems are evolving to embrace new technology and serve a greater range of operations as organizations rely more heavily on them to manage their businesses.

Six major trends to watch in 2021 and beyond will be discussed in this blog.

1. Cloud implementation

In the year 2021, cloud ERP would be a huge attraction. Cloud-based ERP software has been available for a while, and cloud-based installation models aren’t new. In 2021, however, cloud-based ERP use is expected to rise.

Traditionally, ERP software can only be acquired as an on-premise solution, which was extremely expensive for small and medium businesses due to high starting and hardware costs. ERP users were also wary of putting their company’s data in the cloud. More companies are now entering the cloud-hosting market, enhancing cloud computing technologies and bringing ERP solutions to small and mid-sized businesses (SMBs). More companies are moving their data to the cloud in order to maintain and update their systems for less money. As a result of their performance, SaaS solutions will dominate the ERP market.

2. Two-Tier ERP

The market is currently undergoing globalization with localization. Businesses are continuing to expand their wings in the international market, but they still want to delve deep into their home markets. The two-tier ERP approach focuses on tailoring the ERP technology to satisfy global and local needs. ERP meets the requirements of both large and small businesses.

Many businesses have traditionally attempted to implement a single ERP system for their headquarters, regional offices, and affiliates. However, in fact, that strategy was frequently costly and difficult to adopt; subsidiaries frequently had unique requirements that did not necessitate the entire functionality of corporate systems, and they battled with a one-size-fits-all solution. As a result, one of the most popular ERP trends in 2021 is predicted to be a two-tier ERP.

3. Artificial Intelligence or AI integration

AI integration is a popular trend in many industries, and it has long been a hot topic in the ERP industry. Companies must gather a large amount of unstructured and complex data. Artificial intelligence aids in the analysis of data in order to make optimal use of it.

Intelligent ERP, often known as ERP, is artificial intelligence-enabled business management software that can evaluate historical data and information from many departments to build more efficient workflows, make better decisions, reduce errors, and automate hours of repetitive operations. ERP is a game-changer in terms of enhancing business reliability and competitiveness.

4. Digital Transformation

Integrating digital technology into all corporate tasks to improve day-to-day operations is referred to as digital transformation. This strategy can typically increase revenue and competitiveness while also enhancing employee productivity and customer service and communication.

Because an ERP system affects almost every aspect of a business, it’s a good place to start. According to Accenture’s 2020 ERP Trends report, three-quarters of UK businesses are utilizing cloud ERP to modernize their operations. Several of the trends discussed below, including ERP integration with IoT devices and AI and advanced analytics adoption, can be considered part of this digital transformation.

5. Personalization

Historically, ERP platforms with complicated scripting languages were difficult to tailor to each company’s unique requirements. Cloud ERP platforms built for easier deployment, or what analysts refer to as “low-code” platforms, are now available to enterprises. A rising number of ERP solutions are being developed to meet the needs of certain sectors.

Companies require ERP systems that can handle these needs with capabilities like highly customized dashboards as they focus on offering more personalized, relevant experiences to customers. Chatbots, which can read user voice or text, input and react to inquiries using customer and order information contained in the ERP, is one new trend.

6. Mobile ERP

ERP providers have long provided mobile support, and mobile apps are becoming the norm. Employees can do both back-end and front-end duties wherever they are, from the warehouse floor to a retail checkout terminal to an airport, thanks to the evolution of ERP solutions that give on-the-go access to important company data. Mobile ERP can also let scattered workforces in different places collaborate.

Mobile ERP apps with a user-friendly interface can assist users in getting work done when they are not in front of a computer. Employees can use their phones to complete tasks such as expense reporting, call logging, and time tracking, as well as check the status of critical workflows or approvals. Mobile ERP provides real-time data and insights, as well as overall benefits such as always-on remote access, improved productivity, faster and more accurate data capture, and increased agility.

What Is PMTRACK ERP

PMTRACK ERP is a comprehensive enterprise solution with numerous features. This ERP framework optimizes business processes, roles, and actions in cloud-based platforms, allowing businesses to respond quickly and efficiently to changing business needs. Businesses can quickly incorporate and expand their operations to new locations with the help of PMTRACK ERP, increasing their sales.

1. Process effectiveness in Organizational actions

PMTRACK ERP integrates disparate business activities. Order management, satisfaction, invoicing, cash collection, cost approvals, and financial consolidations just are a few examples of commercial processes which can be improved. As a result, organizational operations have become more effective.

2. Real-Time Data Access

Higher integration capabilities, faster response to customer needs, immediate updating, and increased connectivity are just a few of the benefits of real-time data access. All of this is possible with a PMTRACK ERP application for a company’s operations.

3. Enhanced Information Sharing

ERP software facilitates the effective transfer of relevant data across all departments in order to increase business operations and simplify operations. Because a PMTRACK ERP System is easily accessible via the internet, any authorized employee can connect to the system at any time and from any location to get the most up-to-date information.

4. Extend the Process to Customers, Suppliers, and Partners

A business is divided into divisions, each with its own set of operating procedures. These business operations are planned in advance in PMTRACK ERP. PMTRACK ERP integration boosts responsiveness and speeds up process cycles, resulting in a more efficient workflow.

5. Boost Data Security

The PMTRACK ERP software employs several layers of encryption to ensure the security of critical data. Personal accounts can be accessed by any employee and are managed by an admin panel.

What’s next? The Future of ERP

Organizations will likely accelerate their move to cloud ERP once they realize that moving ERP and its related modules to the cloud makes it far easier to achieve the speed and agility required to succeed in today’s marketplace. Companies who already invested in cloud ERP will explore new methods to maximize the benefits of the cloud.

When organizations realize that moving ERP and its related modules to the cloud makes it far easier to achieve the speed and agility required succeeding in today’s marketplace, they will likely accelerate their move to cloud ERP. Companies that have already invested in cloud ERP will look for new ways to take advantage of the cloud’s capabilities.

Another trend to watch is the continuous expansion of ERP supply chain management capabilities, which will enable organizations to protect themselves from supply chain disruptions or rapid changes in the global economic climate.

PM TRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team at info@cloud9technologies.in

Posted By Category: ERP Software
ERP Solution Features for the Automotive Industry
6Jan-21

ERP Solution Features for the Automotive Industry

The automotive manufacturing and provide industry is in a situation of change, with OEM and parts specialists stressed to live in an international environment that’s ever more suit more aggressive. Online contact may have improved the get to
of this company, but it has also put damage on their skill to stay up with require and level their operation.

ERP solution for the automotive industry is a capable tool for running the wants of the automotive industry. They can help you map and manage your process, keep stock, assist with examination, create accurate reports, etc. ensure reliability in your processes.

Though, the ability of ERP software to get any business to the top depends ahead on the humor and impending of its user. ERP software can do wonders, even as a quick head can just carry still a superior company to its end, adding up one more crash to ERP implementation. Whether you are an SME looking to extent operations, or a large company pushing improvement after improvement, efficient operations are still the key to maximizing profitability.

It’s no shock then that Enterprise Resource Planning (ERP) systems are successful in the automotive sector. Manufacturers and suppliers validate their ERP acquisitions predicated on the following factors:
* Initial investment
* Ongoing operating expenses
* Return on asset
So let’s look at a major ERP solution features that are mainly useful to automotive manufacturers and suppliers

#FEATURE 1: INTEGRATION BY MANUFACTURING PROCESSES

Manufacturing support is not accurately a new characteristic in an ERP system, and neither is it the sexiest. It is, though, serious for selection automotive Industry synchronizes their industrialized and supply processes.
• The profit of an industrialized unit in your ERP system contains:
• Inventory managing planned to decrease costs
• expedite manufacturing cycle
• Inventory information to path business-critical information
• objective situation by reformation the manufacturing procedure

#FEATURE 2: MOBILE COMPATIBILITY

A manufacturing firm in the automotive sector is looking for conduct to improve employee efficiency by providing staff members the ability to access business information throughout their mobile devices.
This style is not lost in the automotive ERP space and this builds is still more very important to wish an ERP solution that allows your organization to admission the file and business procedure dashboard distantly.

#FEATURE 3: SUPPLY CHAIN MANAGEMENT

Industry-leading ERP solutions can be built-in into your organization’s complete operation, agree to quality management features to organize and check your supply chain in its total. The capacity to keep up a close eye on command, product supply, logistics, and supply in real-time can assist your company go from creature common to wonderfully proficient and winning.

#FEATURE 4: CUSTOMER RELATIONSHIP MANAGEMENT

The customer relationship management (CRM) module will help put all this information under one recognized top. More importantly, a CRM module allows different teams in different departments— like sales, marketing, and customer service support—to contact this information, allow your organization to deal with the requirements, preference, and purchase behavior of your clientele.

#FEATURE 5: FINANCIAL MODULES

An ERP finance module gathers financial data and turns them into reports as well as quarterly financial statements, ledgers, profit tracking, and balance sheets.
The finance element is typically the first component activates in an ERP system and the cause organizations put back their separate accounting software with ERP. Integrate the finances of the diverse business functions helps make sure accounting accuracy, which is important in meeting economic regulations and reporting necessities that have full-grown tougher in current years.
ERP finance module features
Following are the key features of an ERP finance module:
• turnover tracking
• universal ledger
• Accounts payable
• Accounts receivable
• Fixed asset managing
• Risk managing
• Reporting
• Tax managing

#FEATURE 6: IMPROVED INVENTORY MANAGEMENT

ERP inventory managing, small for enterprise resource planning inventory management, refers to an included approach to business planning and operation, in which business can direct all their finances, operations, and inventory in a single position.
Features of an ERP inventory management system
• Stock management
• Sales order management
• Warehouse management
• Payment gateway functionality
• Integrations with accounting, shipping, and other operational tools
• Intelligence reports and analytics

#FEATURE 7: FAST AND SIMPLE INTEGRATION

ERP models require being effectively included with other functions main for the company, such as
Industrialized & supplying chain. You don’t have to wait for time to begin to benefit from your asset.
Your ERP Consultant must be capable to provide a rational timeframe for an ERP product to be included
Into your company’s business processes and must structure the initiating process in such a way as to roll
On the valve for ROI as rapidly as possible.

Conclusion
A flexible and influential web-based ERP solution presents several benefits to automotive manufacturers in need of speed, worth, and efficiency in all features of the organization. The core benefit of an ERP system to expand productivity and decrease operating price.
We help to manufacture industry to stay ahead of the run-of-the automotive industry with our outstanding solutions. We work to improve the client experience and create a better client journey by offer feature-rich solutions.

PMTRACK ERP provides the best , ERP solution for the manufacturing industry in all pan India, to schedule a free demo, get in touch with our team at info@cloud9technologies.in

Posted By Category: ERP Software
top erp trends in 2021
31Dec-20

Top Trends Transforming ERP Software in 2021

In today’s quickly developing technology landscape, the enterprise is continuously on the lookout for flexible software solutions to make more efficient their processes and make stronger their knowledge.

While a mainstream of enterprises uses ERP solutions, it is similarly important to keep them up-to-date to keep speed with the latest technological advancement. Safety limitations, clean information, and spreadsheet reliance are a few of the disadvantages of inheritance ERP systems. As a result, it is necessary to improve your accessible enterprise systems to maintain the cut-throat competition and unstable market conditions.

Reasonably, maintenance up with the latest ERP trends is beneficial to both the customers and service providers. As we approach the year 2021, we are going to see many advances in the ground of enterprise resource preparation. Let’s discover the top ERP trends that will control the year 2021.

Industry leaders are varying their ERPs from on-premise systems to cloud-based ERP solutions base on a digital core, offer real-time access to transactional data. For them, the dim is to create a path to the digital transformation of information crosswise the enterprise. exciting new business model to help amplify productivity, make the better insight, plan better strategy, improve decision creation, and make cost savings.

Latest ERP Trends For 2021:

The quick advancement of knowledge is very important for ERP software to ensure organizations maintain stability with the varying business speed and stay in front of the market. This is true for mainly of them, with enterprise resource planning. In this light, keep up with the latest ERP trends is beneficial to consumers and service providers.
PM TRACK ERP provides the best ERP solution for the manufacturing industry in Pune, we help to manufacture companies to solve the problems faced by manufacturers. The PMTRACK ERP software will take care of the many production and inventory requirements of businesses in the manufacturing industries.

1. Accelerated Cloud implementation

There’s not anything new about moving to cloud-based ERP software. But it’s one of the game-changing trends that carry on failing. In the past, ERP software was accessible as an on-premise solution whose set up fees and hardware costs made the system too costly for the medium and smaller business. Furthermore, ERP users had fears in inserting their company’s records in cloud storage.
It makes ERP systems easier to get to SMBs and users no longer have to concern about costly system maintenance and upgrade. As of today, SaaS ERP solutions are now dominating the market with the rising acceptance of cloud-based models. A company using on-premises ERP has realized its restrictions including inflexibility, cost scale, and need for innovation. It is, consequently, quite obvious that cloud adoption is leaving to play a very important role in civilizing present-day ERP systems.

2. Increased acceptance of Mobile Application

Mobility also leads to having a more correct and suitable data capture process. Workers can collect and key-in information straight from the field. It eliminates the requirement to wait for them to return to the place of work and enter data. Furthermore, it reduces the instances of manufacturing delay by provided that better communication between different entities.
Complete mobile support will be amongst the basic functionalities of a recent ERP tool. Separately from given that on-the-go contact to data, the mobile approach in ERP brings an excess of benefits. That means back-end and front-end actions are accessible on mobile devices such as smartphones and tablets. For example, workers working outside the office place can close up deals even from home. It is probable since of the simple access to all the information and tools they need in one position.

3. Real-Time Data:

Real-time data has forever proven to be helpful for the popularity of organizations. several of the common benefits include:
1.smooth Business Functions
2.improved Customer Experience
3.correct and In-Depth Insights
ERP systems are a mixture of multiple tools that are used by a variety of departments. This means ERP is by remote the best software to easily communicate all your business information crossways multiple departments.
One harder to believe the advantage of real-time data offered by ERP systems is, it help you improve your consumer service. all you require to do is put together your CRM software with your ERP system and you’ll be able to access your customer’s vital information under one cover.

4. Integration of Artificial Intelligence

Artificial Intelligence (AI) and machine learning (ML) is a comparatively new concept in the ERP industry. When AI technology is included with an ERP system, it provides companies with pioneering data processing capabilities and transforms business data into actionable insight.
Being linked to the ERP systems, AI technology bridge industry, and functional silos. It uses bright analytics to help users make knowledgeable decisions, work faster, and keep away from manufacture many mistakes. This frees up employees’ useful time, which they can use for performing additional precious tasks.

5. Powerful Analytics

The heritage ERP systems have forever been very useful in collecting and arranging data. Though, they are not as powerful in reporting and analysis. The mainstream of the current ERP systems is natively prepared with powerful data analytics features. It is majorly since companies are prioritizing the skill to create data-driven decisions quickly.
Going onward, these ERP platforms are able to process both prepared and unstructured data from various departments and consequently store up every essential information accessible to create a predictive analysis of potential marketplace trends.

Several companies are still not sure whether or not they must spend in an ERP system. We can’t speak for sure that you need one, but we can say with assurance that it’s worth the reflection. Check out our article on why ERP software important and why use an ERP to help you build a more well-founded conclusion.
PMTRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team info@cloud9technologies.in

Posted By Category: ERP Software
Top Reasons For Erp Implementation Failures
11Dec-20

Top Reasons For Erp Implementation Failures & The 11 Steps To Success

Few people in a company ever realize how complex an ERP implementation is and how the difference between ERP success and ERP failure maybe a few key elements. Some of the common mistakes that can significantly increase your chances of success if avoided are mentioned below.

It is popular to suggest that technology should work with people, not the other way around. In a similar manner, the Planning Enterprise Resource Planning (ERP) system of an organization is like the body’s central nervous system. If it is safe, it provides management with sensory input so that they can understand what’s going on with consumers, vendors, and workers. Implementing an ERP system for your organization is the best investment a company can assume of.

ERP systems are the fundamental sales-to-cash, accounting, reporting, compliance, human resources, supply chain, customer, and sales IT systems that companies rely on every day. Yet, even with this serious role ERP systems participate, mainly companies fail when in it comes to implement or upgrading their ERP system.

The causes of ERP failure include

1. Incorrect Requirement Gathering
2. Inadequate Team Resources
3. Not Enough User Training
4. Non-sufficient Funds
5. Non-sufficient Data Cleansing
6. Insistence on Making Erp Look like Legacy
7. Lack of Testing
8. Lack of Communication
9. Lack of Investment in Change Management
10. Business Management Is Not Dedicated To the Implementation
11. Not Having a Maintenance Plan

Incorrect Requirement Gathering:

Taking business processes is also and implementing them with an ERP framework is very normal and very tempting, while this is conceptually understandable, you will have to take the time and make the effort to evaluate those processes as part of the selection of your ERP requirements implementing a new ERP framework is an opportunity for the business processes to be defined and improved/redesigned. Automating a bad process just makes it quicker to run a poor Process.

Inadequate team resources:

Inadequate resources have earned the spot of Number 2 on the Top Reason ERP Implementations Failed List for a couple of reasons; the first being budget. It is always essential to budget properly for any project. Though, when selling with companywide integrations there is much less flexibility.

Business does not execute whole ERP systems from the ground up frequently. So when an organization decides to do so, it must be done right. Though implementations can get costly, the cost of moving forward with inexperienced income is far better. Cutting corners is predictable at times but must never be considered when choosing a suitable professional to take out an implementation.

Insufficient User training /support

ERP implementation requires skilled users. Any user not trained in advance will be siphon off resources from the implementation support team. As the accessible support funds reduce, the capability to determine go-live problems decreases and the completion implodes. The management shouldn’t hurry to create using the tool without sufficient training to users. Today’s recent ERP systems are individually used by more and more personnel within a company. Further than the Finance and accounting departments, current systems also cover supply chain functions, compliance, customer relationships, sales, and much more.

If the organization includes human resources or cost reporting, then basically all employees use the scheme. Guidance hundreds or thousands of users, to the correct depth, at just the correct time, is no simple task. Leave-taking training to a small phase at the end of the scheme makes it very hard for users to get the guidance they require to appreciate the system and have a constructive first impression at the level.

Non-sufficient funds

ERP implementations are costly, and you should constantly be careful about not wasting money. Although, the cost of an ERP failure makes the implementation cost seem like pocket vary. Create your best estimation of cost and increase that estimation by 25% when you make inquiries for a budget.

Non-sufficient data cleansing

Extremely frequently it is supposed to it is the IT team’s sole liability to take care of the data purification process. Although there are great data cleansing tools currently accessible in the market, though, they can only help in recognize the possible areas and records that are extremely possible to be clean, not clean it themselves.
In another case, before affecting the new ERP system, the person’s involvement is necessary to authorize the closing stability of the company. This is the solution to obtain true data integrity and accuracy.

Persistence on creation ERP looks like a heritage

Over-customization increase each other cost and risk, it makes improvement and testing more difficult and it reduces ERP functionality

Lack of TESTING

It should be treated as a rectifying stage. When schedules get tight, reducing the number and depth of the test cycle is one of the first areas that frequently get cut. The reason for testing in an ERP project is not to see if the software works. The purpose is to see if the system meets your business requirements and produce the output you need. Dropping testing may not leave defects undiscovered, but it surely increases the risk the ERP system will be missing important functions or not be well conventional by the end-user.

Lack of Communication

To keep away from this problem, “make a project communication plan for all phases of the project,” Put together “a small core team that converses and works shining with one more and that has authority in the business area most influence by the new solution.

Then generate certain they are kept completely up-to-date on plan progress at all time” and, in revolve, wait for all those in precious areas up to date.

Lack of investment in change management

“To keep away from rework and make sure that end-users carefully understand the changes that will happen upon go-live, organization [should] identify essential process changes early in the complete project,” End-user guidance must think not only the transactional aspect of a user’s role but also the changing communication with other users and with the system not an element of the new solution. By deliver [appropriate, timely] training, users are probable to believe the new system at an earlier speed and with better success.”

Business Management is not dedicated to the implementation:

Without this promise, no one else in the organization will be dedicated either. Advise rescheduling of the ERP project rather than venture leadership attitudes will someway “come approximately”.

Not having a Maintenance plan:

Implementing an ERP system take time, but the work hardly stops one time the system is successfully in place. Businesses must implement a maintenance strategy to make sure workers are associated with what desires to be done to continue and recover the ERP system on a normal basis so it doesn’t suit outdated.

“Out-of-date ERP system can put companies at danger for safety issues and holes in their business processes,” he explains. “Have a set plan and conveying who in the business is dependable for the project and maintenance at a certain time will make sure the ERP system is always management easily and is up-to-date with the latest application.”

PM TRACK ERP provides the best ERP solution for the manufacturing industry all over India, to schedule a free demo, get in touch with our team info@cloud9technologies.in

Posted By Category: ERP Software
6Oct-20

ERP Implementation: Phases to a Successful ERP

Implementation is one of the most critical pieces to reap the full benefits of any ERP software. It is also one part wherever you will find a great difference between software providers. After looking closely at the application provided with an exacting ERP solution, the software’s flexibility, and simplicity of use, the execution process should be examined directly too so that the quantity of time and work occupied input the software input is fully understood.

What is an ERP implementation?

What is ERP implementation? Powerful software suites like ERP frameworks dislike purchaser confronting applications where a download an introduction is everything necessary to begin utilizing the framework. To begin with, ERP software requires power-house infrastructure (whether that becloud or on-premise servers) to have it.

Your IT department will estimate the communications options and set up the base for the ERP software to run. Second, the function has a tremendously broad breadth of capability.ERP systems are highly configurable; often require the expertise of ERP consultants to translate your business requirements to the right pattern inside the software. ERP implementation covers all these aspects (and more).

5 Most Common Reason for ERP Implementation Failure

  1. Poor Change Management execution.
  2. Final result failing to achieve desired benefits.
  3. Change in business objectives during the progressing project.
  4. Poor Planning and Poor Project Management.
  5. Delayed deliveries from sellers.

The idea of evaluating and choose a new Enterprise Resource Planning (ERP) software can seem difficult. The time to not only evaluate ERP vendors, but your own process and needs can be intimidating.

There is, still, a way to simplicity during the method of the ERP implementation phase if you split it down into stage and execute an ERP strategy.  From there, you progress from one to the next and these lesser sections will be easier to begin slightly than looking at the big picture. There are various ways to phrase the phase, but here are the seven that I come up with to help out you organize your valuation:

1. Awareness of Need

The true creation of the valuation comes when you understand you require making a change. Whether or not you presently have an ERP, there must be an instance where it is clearly clear that what you are using, or not using, today is no longer best possible for how your company is successive.

There are many reasons for this includes a lack of functionality, out-of-date software, poor features, or a lack of flexibility. Also way, the effect is the same: you need the latest ERP solution.

2.Initial Research/Familiarization

In the event that you right now have an ERP, at that point, this stage will be beginning examination into new frameworks and what is out there. Though on the off option that you are originating from manual technique, it will be an associate of the thought of an ERP just as what is offered. This examination should to similarly include an investigation of your organization’s cycle and what you will need from an additional structure.

3.Reaching Vendors/Gathering Specifics

Since you are ready with information, you should start to contact merchants to get more clear information. At that point, if there is no motivation to keep out the vendor, we move about to the next phase: demos of the product.

4.Preliminary Round of Demos

Depending upon the number of merchants you chose after beginning exploration, this could be one of the longest of the seven stages. The demos ought to be point by point reviews that are semi-customized to your necessities. It should give you a true vibe of the product and a Q/A convention ought to continue not with standing posing inquiries during the demo.

5.Choosing the Final Competitors

This is the place it might get precarious, especially if you have a large team of people evaluating the software. Particularly on the off chance that you have a huge group of individuals assessing the product. Contradictions will occur, yet in the event that you keep any contention based on the business, as opposed to an exacting individual’s job or division, there is constantly an advance to pick the key a few.

6. Proof of Concept with Vendors

With the final list now in hand, you can jump deep into the demo that is full of your data. The ERP vendors must be able to explain to you closely how the system would run at your business and how you would run your business with their software. Be as particular and exact as possible; this is the stage wherever you want to disappear no stone unturned.

7. Final conclusion

After all conversations and the last round of demos are completed, now is the time to make your choice. Ideally, one of the ERP solutions would have jumped off the screen at this point, but if not, it will have to be an internal discussion that produces the final choice.

PM TRACK ERP provides the best ERP solution for the manufacturing industry in all over India, to schedule a free demo, get in touch with our team info@cloud9technologies.in

Posted By Category: ERP Software
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