Selecting the right ERP Solution for your Businesses

After getting basic insights of the ERP solutions and the requirements of your business, you need to choose a system that would work best for you. Here are some of the most commonly used types, dynamic in nature and designed to meet the specific requirements of businesses. A good ERP app provider that you can consider is the one here: https://orangekloud.com/erp-app/ And, as there are small to large enterprises working in Singapore, here are some recommendations for the different ERPs systems being used:

Small business-based ERP Solutions

There are on-premises as well as off the shelf enterprise resource planning solutions. Such ERP apps have certain pared down features which are also modularised. This is a small setup system. Such systems only involve smaller portions of the businesses, like PeopleSoft; while the rest of the systems are left out. Mostly finance and human resource functions are part of this small business ERP, other added features are supply chain management, inventory management and CRM. Some small businesses in Singapore also call these light weight ERP solutions.

Generalized ERP Solution

Most ERP systems come under the umbrella of generalized ERP. They are acceptable to industries of Singapore. For any construction firms, that deal with different clients or any pharmaceutical company, who work with vendors, such generalist ERP are perfect answer to their businesses. Such solutions are not only customized as per the requirements of the industry, they are also able to integrate with other industries, clients and vendors for better record keeping. In Singapore, considering its market size, generalist ERP systems are the most common software. An example in this category is NetSuite.

Vertical ERP Solutions

Certain industries in Singapore require vertical ERP solutions, which are again specific to the types of business. Normally start-up ventures and other smaller stakeholders who have just entered the market look for vertical solutions to their businesses. Start-ups, the retail industry, the construction industry as well as small distributors are such examples. Software which is widely used in this case is Microsoft Dynamic AX.

Open-Source ERP Solution

Considering the entire ERP system, open source systems are one part of ERP. Companies take these systems to integrate and align their operations with them. In the Singapore market, developers can benefit mostly from open source systems because it helps in their adoption for aligning systems with ERP.

Some of the key modules of ERP with respect to ERP solution are as follows:

  • Module for Financial Management:

This module is meant to take care of cash flows, in terms of capital outflows as well as inflows. Apart from these, other accounting requirements like balance sheet, tax managements, general ledger, bank reconciliation and payments are also taken care of. Such ERP solutions can help companies in Singapore for making financial transactions and links between businesses and departments easy.

  • Module for Manufacturing Companies:

For manufacturing companies, ERP modules working for manufacturing involve processes managing product forecasting, daily production, product planning and monitoring. The system has provisions like distribution planning, billing processes, product scheduling for different sizes companies.

  • Module for Sales and Marketing Companies:

ERP Modules for sales and marketing companies include systems for sales orders, sales inquiries and those for quotation purposes. Companies in Singapore in the domain of sales and marketing work alongside with CRM to making profits.

  • Module for Inventory Management:

With the inventory related module, companies can handle inventory goals and their planning, besides this, stock targets and other replenishments can be done easily by big companies. Better inventory management can be managed well with companies with the introduction of this module.

  • Module for Human Resource Management:

This is an essential module for managing human resource. For countries like Singapore where managing human resource is not an easy task, their entire life cycle starting from employment to separation can well be managed by such ERP solutions. Apart from this, performance management systems, managing payrolls in combination with financial activities can become easy.

Above mentioned ERP solutions are the basic level modules, there are some other modules which are of advanced stage. As per the specifications of the company, selection of module is done by the respective company’s stakeholders.

What’s most important is as a business owner or management, narrowing down your choices, knowing what your business requires and seeks and then, which ERP app will be the most suited to address all these needs. Remember to make the accurate and best choice for your business for increased productivity and long term growth of your business.