A Guide to the Different Types of ERP Software
How do you choose which ERP software is right for your organization?
Committing to new ERP software systems can be a huge undertaking. Yet, getting a commitment from the team and a plan together will help you figure out which system would work best for your organization!
For this reason, we’ve put together this article on the different types of ERP software. Keep on reading to find out more!
1. Production-based ERP software
Production-based ERP software helps businesses streamline the production process from start to finish. It provides visibility into each stage of the product life cycle, from scheduling and production to delivery. There are Singapore ERP Leaders that can help aid in raising customer happiness, cost savings, and quality control.
It can also help to manage inventory and purchasing activities. Also, it can track customer orders, work orders, customer returns, and more. By tracking the full lifecycle of each product, businesses can better track the production process.
Also, it can identify any delays in production. Any company that makes or produces tangible items can enjoy this kind of ERP software since it gives a thorough perspective of the entire manufacturing process.
2. Accounting-Based ERP Software
Accounting-based ERP software is one of the main types of ERP software and it helps in managing the finances and accounting needs of any business. Businesses in the retail, financial services and hotel industries are most suited for using this form of ERP software. It helps firms keep track of both their current and past accounts payable and receivable.
Also, it tracks invoices and customer payments. It has a built-in feature that helps businesses prepare their finances for reporting and auditing purposes. Accountants can examine all the changes that were made in the financial reports with the aid of this tool.
Furthermore, it helps in the financial planning of the organization. It analyzes the total finances of the organization and helps to create a strategy to maximize profits. This makes it an important asset in the financial sector of a business.
3. Human Resource-Based ERP Software
Human Resource-based ERP is a type of software designed to automate the most important tasks related to HR management. It automates HR procedures linked to hiring onboarding staff. As well as payroll, benefits, training, and performance.
Also, it reduced compliance-related costs and a better HR customer service experience. This software can be used to automate the selection, hiring, and onboarding processes to reduce costs and improve accuracy. Moreover, it can help with communication between HR and other departments.
As well as it is used to help with the tracking and reporting of employee data and performance. Finally, it helps to enable compliance with labor laws and regulations.
Know the Different Types of ERP Software
Production-based ERP software and accounting-based ERP software. As well as human resource-based ERP software, are some of the examples of types of ERP software. Choosing the right ERP system for your business can help businesses collaborate and function more effectively.
To learn more, contact us today, and let us help you make the right choice.