Know which industries benefit most from ERP and when to make the move
Organizations from a variety of industries use Enterprise Resource Planning (ERP) software. There are types of businesses that benefit from ERP more. There are some key trends that suggest when it’s time for a business to implement or upgrade their ERP system, which include:
- Times of growth: The organization is growing, has grown or is planning to grow significantly
- Issues with operations: The organization needs enterprise software to better manage processes
- Mergers or acquisitions: For example, the parent organization needs to streamline systems across companies
- Old legacy systems: The organization’s current system is outdated and not available for upgrades, or no longer serves the business and users adequately
- Strategic roadmap: Organizations with forward-thinking executives have outlined a business technology roadmap that includes a new enterprise solution
While many factors indicate the need for implementing an ERP system, companies in certain industries stand to gain the most from making the move.
Who Benefits the Most?
What are the types of businesses that benefit from ERP the most? The versatile nature of ERP software allows companies across industries to implement solutions based on their business needs. Major industries that use ERP include:
- Professional Services
- Industrial Services
- And more
ERP systems solve many problems companies in these industries face, including a need for:
- Better visibility into all aspects of the supply chain, and increased efficiencies
- One source of truth as one master system of record for all important company data
- Automating manual processes, such as invoice creation, routine communications, financial report generation, product and service delivery and material requirements planning.
One manufacturing executive we’ve worked with said implementing ERP (in their case, Oracle JD Edwards) gave the company a “robust platform” to manage and control their manufacturing processes. “The tools and information available in the system will allow us to better manage our distribution and manufacturing businesses.” Read the full story.
Professional services is another industry where ERP is often used. The needs of these organizations differ from manufacturing and distribution. Businesses in this industry are often project-based and need tools for project planning and execution, managing project costs, strong customer relationship management and more.
The CIO of a project-based company we recently worked with to implement a cloud ERP system commented: “By moving our project management process to the cloud, we can keep up with our business growth and continue to serve our clients to the best of our ability.” Read the full story.