How ERP can help your business
There are dozens of thousands of ERP’s in the world. Each set to answer specific industry needs, or more generic functional processes. We help you better understand what to look for in an ERP to ensure it can help your business.
The three types or ERP
1. The lite ERP's
Lite ERP’s include the likes of Quickbooks, NetSUite limited edition, ERPNext, Odoo, Koban and Pastel. They cover basic elements of accounting, such as the ability to create sales invoices and manage payments. You will also be able to enter vendor bill and register your vendor payments. Basic financial report formats are offered for your balance sheet, profit and loss and basic sales/ expense reports.
Basic journal entries are used to cover non sales/expense transactions.
2. The medium ERP's
Medium type ERP’s provide a larger functional coverage, including sales pipeline, estimates, orders and delivery management. Procurement, including purchase order processing and lead times are also found as ‘standard functionality’ on medium type ERP’s. Reports can be customized either through drag and drop or scripting. Inventory management and journal entries are included. Examples of medium ERP’s include Dynamics, Sage and NetSuite Mid Market edition.
3. The large ERP's
Large ERP’s include the ability to categorise your records by at least 3 main axes. Go beyond reports by period, customers, items or vendors to include customer categories, vendor types, product types, sales reps or even department/ team. Budgets are also allocated by category, as well as per item/ customer/ account/ period.Multi subsidiary, revenue recognition, amortizations are covered. Large ERp’s include Oracle ERP, SAP S4 hana, Peoplesoft and NetSuite OneWorld/ Enterprise edition.
Who uses Lite ERP's?
Lite ERP’s are used by startups that are in the ‘proof of concept’ phase, before they build capital. Sole traders who do not have the intention of growing, or use an accounting firm to manage their accounting often choose lite ERP’s.These businesses do not have departments and focus their efforts on building revenue the manual way (Cold calls, direct sales (through shop or webstore).
Who uses medium ERP's?
Businesses that need to grow to up-to 20 employees, opertaing in a single country, that do not import or export often use medium ERP’s. These types of companies do not plan to grow past a single office, or in numbers. Their department is often managed and run by a single person by department. They do not require real-time information of their data, nor see the use of spending money to secure their database. Their IT department consists of less than three people.
Who uses large ERP's?
Large ERP’s are used by startups that are backed by investors, and have the objective of growing rapidly during their next five years. They need an ERP that streamlines their department’s processes to ensure efficiencies are made at all levels. Forecasting, budgeting and planning are considered highly, so access to real-time, secured and always up-to-date ERP highly valued.
An ERP can play a major role in increasing the company’s efficiencies, leading to better financial results. Additionally, ERP is also a powerful tool to show your status to the market. A startup that chooses an ERP that can scale, and streamlines processes is considered to have a larger chance of success than one that uses an ERP that’s made for those that plan to stay small. The same can be said about mid sized and large companies. Failing to adopt the right ERP will only send the wrong message to investors and customers, leading to a slower growth and funding.
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We have over 12 years of experience in delivering ERP’s to small, medium and large businesses across the world, including England, France, Germany, Belgium, the Netherlands, the USA, Qatar, Tanzania, Morocco and Mauritius.