Introduction
Your business can only be a success if its operations are running smoothly and effectively. There are several ERP solutions available in the market that help your business achieve this success. Today’s ERP solutions are flexible, secure and data-driven systems. They play a vital role in cloud – based digital businesses. Companies of all sizes use ERP systems to manage daily business operations. These include procurement, project management, operations, finance and sales. This article talks about the in-depth meaning of ERP software, its uses and its cost in India.
Article Content-
- Meaning of ERP Software
- Why is ERP crucial for your business?
- Who can use ERP Software?
- Benefits of ERP software for your business
- ERP Software Price in India
- ERP Implementation Cost in India
- Tips for choosing a low-cost ERP solution for your business
- Bottom Line
Meaning of ERP Software
ERP stands for Enterprise Resource Planning. It is software that is designed to manage and integrate the functions of core business processes into a single system. . These include finance, human resources, supply chain and inventory management. It is software used by businesses of all sizes. The ERP is considered a must-have for large enterprises and is increasingly used by growing small and medium businesses. Streamlining business processes has become an important task for every company. This is due to the complexity of the global economy and the demands of modern consumers. ERP is usually the basis for these functions.
Why is ERP crucial for your business?
There are no solutions that can be used by all businesses to improve performance. But, ERP technology excels at bringing processes together. When your systems and data are connected, you get the intelligence and acceleration you need to optimize your operations. Here are some ways in which ERP software can help your business improve:-
1. Drives ultimate performance
With AI-integrated solutions, you gain insights to improve decision making. You can identify opportunities to improve future operational performance.
2. Speed up processes
By connecting processes and data, you can give your employees greater visibility and flexibility. You can take faster action, and add value across your organization.
3. Ensure business flexibility
ERP solutions are designed to adapt to your business needs. They basically grow with you. They allow you to prepare and respond fast to problems and market changes.
Who can use ERP Software?
Anyone can use an ERP system. From small businesses to large conglomerates. Companies of all sizes and industries use ERP software. ERP has turned out to be a trusted technology when it comes to managing one’s business operations. ERP has grown to cover all the needs of different industries. Also, ERP’s modular structure and cloud-based interface allows even small businesses to take advantage of the powerful features his ERP solutions offer.
Benefits of ERP software for your business
It’s already known that there are a ton of benefits of ERP Software. ERP software offers many powerful opportunities that can make your business’s profits soar higher. Refer to some of the advantages as mentioned below:-
1. Improved management performance
An ERP software acts as a data center. It connects all of a company’s functions that need to be managed. These include human resources, manufacturing, sales, customer care, inventory, and shipping. With the help of ERP software, automatic data processing in the fastest and most effective way can take place. They reduce the time on manual paperwork and data entry. It reduces the potential for human error that can disrupt the flow of production. Employees can be used in other important tasks.
2. Improving availability of accurate information
An advanced ERP system enables effective and centralized collection, processing and storage of information. It includes all information related to production, sales, delivery, customers, etc. A single data system is used and maintained, rather than a series of separate databases. These databases must be periodically reviewed and synched to remove outdated or duplicate records. Quality of internal data is improved and makes it easily accessible to employees across all relevant departments. Supply chain and inventory management, in particular, are the activities that benefit most from ERP software.
3. Efficient coordination
An integrated system contains all business-related data that improves cooperation between company departments. ERP software reduces communication delays and increases efficiency across your organization. This is especially beneficial if the company has a chain of subsidiaries spread across multiple states.
4. Accurate Planning
Convenient access to large amounts of business information greatly improves business performance. It analyses opportunities for planning further development courses. Company employees can use aggregated data more effectively to develop new strategies or suggest improvements to existing strategies.
5. Improved Reports
Due to reduced paperwork and better communication between departments, ERP software provides a convenient environment. It helps for quickly and easily submitting all types of reports, from financials to inventory, customer behavior to technical maintenance, and more.
6. Flexibility
Another advantage of ERP software is that it can be used to meet current needs and conditions. This system can easily adapt as your company grows or shrinks at every stage without any hassle. Even the most minor changes in a company’s structure and activities are extremely flexible. This includes the addition of new products, employees, production facilities, suppliers, departments, etc. This requires high flexibility of an ERP solution.
ERP Software Price in India
ERP solutions should fit as per your business’s budget. The software program should not only be cost-effective, but also meet all the business specific needs. It is suggested to do thorough research and invest only after discovering the exact price of ERP software in India. Keep in mind that it is a one-time, long-term management decision to invest in an ERP. ERP providers offer a variety of excellent solutions. For instance, some companies offer free ERP software for single users. If you add more users, the price policy will change. On the other hand, there are vendors with budget solutions that cost around INR 4500 on yearly basis per user.
ERP (Enterprise Resource Planning) is an advanced and necessary business process. It’s a software solution that automates business processes without compromising accuracy or quality. Investing in an ERP solution benefits both small businesses and large enterprises.
Some of the major ERP systems are typically shipped as modules containing automated components that manage specific business functions. This feature allows you to select an acceptable solution with one or more characteristics. Examples include inventory, finance, payroll, sales, marketing, human resources systems, and operations.
For small businesses, you can choose an entry-level ERP with limited features, modules, and integrations. However, if you are a large enterprise and looking for a robust solution, you need a complete integrated ERP system and a reliable software package. Large companies can choose from different global brands of his ERP software prices ranging from Rs.20 lakhs to Rs.100 crore.
ERP Implementation Cost in India
Implementation costs play a major role if you want to include an ERP software to improve your business processes. Every company has specific needs. These needs change depending on the size of the business. Hence, the price of ERP setup ranges anywhere between INR 21,000 to INR 45,000. The market also includes large enterprise providers, well-known SAP solutions, whose ERP specialists configure, activate, and maintain total solutions. Prices for such high-end market products range from Rs.50, 000 to Rs.10, 500,000.
The price of implementation of ERP depends on several factors as mentioned:-
- Choose license pricing and set up the system for specified number of users
- Install multiple training courses to increase employee adoption
- Choose different features to meet your business needs. These include using modules to customize the solution.
- Mobility feature allows anytime, anywhere access (mobile app)
- Eliminates outdated compatibility issues and streamlines data transfer
Tips for choosing a low-cost ERP solution for your business
- Choose a solution that has a one-time buying cost.
- Also, there should be no ongoing subscription fees.
- Don’t expect too much customization from your ERP software.
- Reduce the total number of users and their access options.
- Choose cheaper add-ons instead of paying increased license costs.
- Accurately calculate all hardware and software requirements.
- Arrange for annual maintenance and support fees in advance.
- Calculate 18% GST and additional state tax as soon as possible.
- Appoint a project manager or team leader to interact with the vendor’s expertise.
Bottom Line
As you can see from the article, an ERP system is not a one-size-fits-all solution that guarantees 100% success. However, it assists you to achieve 100% success. There are several benefits of an ERP software that helps you understand how it will benefit your business.
There are many different commercial and custom inventory management systems available, but the associated benefits are much the same. In summary, save time and money, increase productivity and customer satisfaction, optimize business processes, centralize all data flows, and enables scalability. If you want to bring these benefits into your company,
SWIL is happy to help with its robust technology ERP Software. SWIL provides software solutions that meet the growing needs of companies irrespective of size, industry, or target users. We have intelligent solutions that keep in mind the important and minor differences between all types of businesses.
