Types of ERP Systems

Is this situation familiar? Your business has started growing, and your multiple software programs have become cumbersome and chaotic to manage. Errors, data duplication, and internal miscommunication occur frequently. Or maybe it’s the other way round: Your business is stagnant and you want to implement changes to stimulate growth.

Each of these modules offers a wide range of tools to automate certain tasks and give a clear, comprehensive visualization of the current state and future outlook of all business units. Depending on the vendor, each module can have various additional capabilities.

The central aim of ERP software is to streamline business processes, increase efficiency, and improve communication among an organization’s departments. An ERP’s top benefits include better reporting and planning, data visibility, efficiency, and automation of manual processes.

Data visibility is often the leading reason why companies choose to implement an ERP solution. By seeing your company’s major business data all in one platform, you can make better-informed decisions, effectively plan out your budget, and create long-term goals. Data visibility is beneficial across all departments, but it is especially effective and helpful in finance.

ERP software provides comprehensive and flexible reporting tools that can be customized to fit your needs. Optimized reporting can make your organization react faster to complex data requests.

To make your operations more efficient, an ERP helps to automate manual processes like generating financial reports, creating invoices, and handling routine communications. Properly set up ERP software can complete these activities automatically.

Many companies put all of their effort and time into the places where they interact with their customers. But although investing in customer touchpoints is vital, you won’t reach your full potential until you properly invest in the main instruments where all of your company’s work gets done — your internal systems.

Every company is digitally transforming. Companies automate their processes, decrease manual work, and change out legacy systems and practices to achieve more efficient workflows and boost their profits. And it works. The enterprise resource planning market has been booming and is projected to reach $78.40 billion by 2026, with a reported 95% of ERP software users seeing improvements in a few or all of their business processes.

Making informed decisions requires getting to know your options. We’ve prepared a guide to various types of ERP systems and what they do. We’ve also listed the best vendors for each type of system to make your research more efficient.

What is an ERP system and why should you use one?

An enterprise resource planning (ERP) system is business process management software that provides a system of integrated centralized applications that help with the automation and management of a broad range of business activities such as HR, sales, customer support, accounting, and inventory control.

Learn about different types of ERP software solutions — custom, ready-made, cloud, on-premises, industry-specific, generic — and get our suggestions for the leading ERP software. Which is best for you? Or, maybe it's time to think about erp development for your custom needs?

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