What are the top ERP tools available in the market?
When it comes to the question of ERP, each organization has unique requirements that set them apart. Say some companies need control over customer management, manufacturing or inventory. Whereas for the others, the onus may be on reporting or data access. Though most business houses have various priorities, these are common areas where they have the same opinion.
360-degree view of the customer:
What does the customer normally buy? Why all of a sudden he has stopped buying? What is their preferred mode of placing their orders? The above information is useful to the companies, in understanding the customers better and the ERP module aids integration to anticipate the needs of the customers.
Reporting and Insight:
One of the biggest advantages of ERP systems is that they can synchronize a variety of information from various departments, and compile them into a report that will provide an insight and lead to better business decisions. But providing this insight is not an easy task, as the applications are not integrated or do not have the necessary speed to accomplish the task. So an ERP system should be integrated across all the applications that are necessary to give real-time access to the data business needs
Analysis of profit:
All business houses have profit in mind and an efficient ERP system will point in that direction for sure. It is not just at the level of business but at the level of items that one carries and sells. With the help of profit analysis, one can analyze the cost of products, cost of items that the customers buy along with the cost associated to acquire the customers. Important decisions regarding the product lines can be taken and which area of the customer segment you should focus on.
Here are some of the top ERP tools available in the market:-
It is the leader among the ERP stream, with the most installed by any vendor, and holds 23 % of market share. In the areas of reporting and inventory management, it has excellent capabilities, but it is not so strong in the area of customer relationship management.
It is right behind SAP with 16 % of market share. Its areas of strength are CRM where SAP lacks, though its main area of strength is human capital management, reporting, analysis and financial management. On the flip side, it lacks the reputation of SAP.
This beautiful program has 9% of market share and derives a great deal of strength on the reputation of companies it builds upon. The areas of strength are multi-currency, ease of use and data tracking. Though it is another matter of fact that it is not renowned for its inventory capabilities.
It is an ERP product fully suited with areas of strength centered on the distribution and manufacturing areas of the business. The not so powerful areas are CRM and when it comes to the all-around view of the customer. Another complaint that has been launched against it is the processing speed.
In this ERP module, the focus is more on the manufacturing aspect. The major weakness is that it is not a full proof ERP module as certain areas like inventory management are totally neglected. Other weaknesses include the reporting along with the customer review.
These are some of the top ERP tools available in the market and appreciated by the market experts also. Every organization is looking to make an investment in ERP should consider the pros and cons of implementing it. It is also dependant on the areas where you feel your business needs more attention. Depending on the limitations of various ERP’s there are also many organizations coming up with new and more effective solutions that can help the organsiations in a better and more efficient manner.