Why your Company Needs a Comprehensive ERP Solution Like Microsoft Dynamics 365 Business Central
Statista predicts that the whole ERP market's revenue will exceed $85 million in 2021. By that time, resource planning systems will be used by both SMEs and large businesses. Moreover, even today, it's pretty difficult to find a firm without at least basic ERP products that help to plan, organize, automate, and improve ongoing processes.
Nearly all managers who have to choose or implement ERP apps stuck at the moment when they have to select the solution. Product companies deliver pre packaged solutions with similar functions for all clients. Service teams offer development of custom applications that come with unique features. But how to choose the most suitable software? And what's the deal with ERP applications at all? Let's try to figure it out.
ERP software basics
Enterprise resource planning may refer to two major points: a strategic vision and any software that is designed to implement this strategy. An ERP strategy provides for comprehensive integration of business resources with perfect balance. It helps managers to build smooth interactions inside the company, decreases costs, and speed up processes.
Respectively, a traditional ERP system also focuses on the optimization of in-house and/or external processes. According to the name, such apps help managers to plan and control resources to reach the best efficiency. ERP software acts as a main tool of an ERP strategy integration. There are some of the common benefits that an ERP solution offers:
Centralized operations. Almost all ERP solutions deliver at least one feature - they gather core data and remove silo. As a result, processes become faster.
Full automation. From task notifications to inventory updates to CRM modules, enterprise software brings automated processes to your company.
Higher productivity. Employees can forget about routine manual work. You can change the workflow so workers will focus on more creative things.
Report features. By analyzing information from central storage, the system automatically composes and delivers regular reports.
Secure data storing. When everything is in one place, you can dedicate all the resources to protect it. Thus, it's possible to build more protected storage.
Choosing the best solution
How is it ever possible to choose one ERP solution? When based on its description, they all deliver the same features with little to no difference. Regardless of the brand, a good ERP software should contain few core modules that function without any bugs, ensure efficiency, and fit to the budget. The secret to selecting a solution is, find a platform that meets all (or the majority) of needs.
Start with a solid plan. Consider all the stakeholders' requirements, define evaluation criteria, set time limits, and forecast spending. Ideally, you should ask the developer for a prototype or an MVP to see how the product will work in the ecosystem. Compare several ERP solutions based on this approach. Calculate the total cost considering license prices, upgrades, maintenance, and so on. And make a choice, finally.
Various ERP products available in market
Today, the market offers number of ERP solutions for different business purposes. All of them have solid audiences with loyal clients. Top 10 vendors control about one-third of the market.
Look at the list of the most popular and/or effective ERP tools for enterprises:
Epicor. One of the most universal apps focused on management and collaboration.
Infor. An end-to-end solutions for manufacturing companies.
Oracle. A cloud tool with advanced BI for firms of different size.
Sage. A tool for small and medium enterprises with in-built CRM features.
SAP. A cloud-based SaaS solution for medium businesses.
Now, try to guess the common thing between all these products. All of them are out-of-the-box solutions. It means that each copy of any given program includes the same features and limits as all other products of this type delivered to customers.
Often, businesses need unique software. They want to integrate exclusive functions, avoid overpayments, and get professional support. For this, you may consider development outsourcing to Ukraine where professionals can build custom software.
Why go for Microsoft Dynamics 365 Business Central
While there are dozens of solutions, one product deserves more attention so we're going to talk about it here. Designed by one of the most recognizable IT firms in the world. Microsoft Dynamics 365 Business Central comes with several core modules, including accounting, management, engagement, and even self-service for users. Its audience is more than 1 million customers. It's an automated cloud app created especially for SMBs.
Let us discuss its unique features and functions. We will also check how is the solution priced according to different business requirements.
Features and functionality
The reviewed tool is a cloud app that follows SaaS ideas. It was designed on the basis of Dynamics NAV. Developers call it the single app a company needs to manage processes.
Here are the advantages and general features of the system:
AI power. Delivers market forecasts, insights, and suggestions.
An intuitive interface. Features customizable views and models.
Compatibility with MS products. Works with other Microsoft 365 apps and more.
Cross-platform work. Can be launched on Windows, iOS, and Android gadgets.
Extension options. Delivers more functions with MS and third-party modules.
Thanks to these points and key modules, Business Central boosts financial visibility, optimize SCM, improves sales services, helps to track budget and time, and protects data keeping GDPR in mind.
Microsoft offers three versions of the application. Choose one of the proposed subscriptions based on your requirements and business goals:
Team Member, $8 per user per month. Includes read and report features, as well as self-service tools for employees. Suitable for small companies that are looking for their first ERPs.
Essentials, $70 per user per month. In addition to the above, includes financial, relational, supply chain, HR, and project management tools. A universal choice for different small and medium enterprises with several departments.
Premium, $100 per user per month. In addition to the above, includes service and manufacturing management functions. It's the best option for large manufacturing firms and multinational corporations.
Thus, each company can find the most suitable option with customization options. Still, Microsoft doesn't offer fully tailored solutions so the basement of this app is always the same.
ERP systems become more and more widely used nowadays. Not only large multinational corporations install them to control all the departments but small and medium enterprises do this. Accenture reports that these solutions will move towards clouds and automation further. ERP apps will be located on virtual servers with quick access while core functions will rely on AI functionality. Big Data also will play a major role.
As well, Accenture suggests considering customization. With fiercer competition, market players should focus on unique features to attract clients, solve their issues, and deliver new values. UI/UX for employees and end-users must be flawless. In this case, Microsoft Dynamics 365 remains one of the top products. But it may give way to tailored services. At the end of the day, only you can decide which ERP is the best choice for your business. Good luck!
MORE IN ITECHPOST
Welcome To InsurTech: The Next Generation of Insurers
With how quickly technology has advanced in the past couple of decades, it's no wonder that it is changing many industries as we know it. Insurtech is sure to give insurance companies a new look and a modern business model to go by.
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
Game Developers’ Different Roles in the Studio
Learn about the different professionals involved in developing video games. Becoming a game developer is one of the coolest jobs around and your 14-year-old self, perched on the edge of your bed as you play PlayStation, will thank you for making such an awesome career move.
Surviving Your First Year of College
You Did It! You’re Off to College! Congratulations! You have finished high school and are off to college. The sense of accomplishment is overwhelming, and you have not even graduated yet! However, beware of the pitfalls. The allure of going to college is often associated with one word—freedom. You are leaving home to be on your own. You can have all the friends you want, stay up as late as you want, and perhaps spend as much money as you want. If you keep your head, you can avoid the problems associated with college life.