What is an ERP Software?
ERP is short for Enterprise Resource Planning, which is an organized process of collecting and consolidating business information with the assistance of integrated software. An ERP tool includes various applications that automate business processes such as accounting, inventory management, production, and more.
In simple words, ERP software is a link between operations across different departments within a business enterprise. These tools can transform your processes and the way you manage your resources which will bring about agility and efficiency to your business.
As of now, the ERP market is witnessing consistent growth due to the increasing availability of affordable ERP solutions. You may find different definitions of an ERP on the internet which primarily vary on whether they are developed for vendors, technology media, or developers. The common consensus however is that ERP binds the various departments of a business together efficiently.
Which is the best ERP tool?
Thanks to the growth of service-as-a-solution (SaaS), there are more than a handful of cloud ERP solutions available. It is understandable if you hit a roadblock while deciding which ERP software is right for your business. ToolsMetric makes it easier for you to choose the most suitable ERP for your business with its comparison feature.
There are various ways of implementing an ERP which includes open-source, cloud-based, on-premise, and hybrid.
- On-premise ERP – This type of ERP is directly deployed to your in-site devices. Although an on-premise ERP is developed for all business sizes, it is more suitable for small and medium enterprises (SMEs)
- Cloud-based ERP – Any ERP SaaS that is available on the cloud instead of on-premise deployment is a cloud-based ERP. One of the benefits of implementing an ERP in this way is that it offers access to real-time data as long as you are connected to the internet.
- Open source ERP – Similar to all open-source software, this solution allows you to modify, inspect, and improve your ERP source code. An open-source ERP provides a high degree of customization for your applications.
- Hybrid ERP – Enterprise resource planning tools that are a perfect mix of a cloud-based and on-premise deployment.
Having said that, there are a few important points you should consider before investing in an ERP tool such as scalability, flexibility, price, level of automation, degree of control, and strategic planning capabilities.
A well-designed enterprise resource planning tool will:
- Increase business agility and help you adapt to the evolving requirements of your business
- Boost efficiency and productivity
- Help you cut down on unnecessary costs
- Enhance security and accessibility
Review of best ERP tools
ToolsMetric is a platform that provides in-depth reviews of some of the most popular and lesser-known ERP solutions. Whether you want to compare the different features, benefits, and other parameters of ERP tools or simply understand a product, we have you covered.
The comparison feature is easy to use and lets you compare a plethora of enterprise resource planning tools from top vendors around the globe.