Deployment model—cloud, on-premise or hybrid—determines the way ERP software is hosted and accessed. An ERP system is made up of a number of different business functions and these functions are typically integrated within a single infrastructure (i.e., finance, human resources (HR), and manufacturing). In terms of ERP systems, there are four major categories of ERP software: Cloud-based (SaaS), On-premise, Hybrid, and Specialty solutions (such as Two-tier or Open Source). To survive in today's global economy, organizations require Enterprise Resource Planning (ERP) solutions that suit their size, complexity, and industry requirements. There are multiple types of ERP systems in the marketplace that can be beneficial for specific industries and business operations. Understanding the various types of ERP systems is key to selecting the appropriate solution for continued business growth and success.
ERP system refers to a software application that provides companies with management solutions for various aspects of their business including operations, finance, human resources (HR), procurement and supply chain management. Companies that implement ERP are able to use an integrated, collaborative tool to manage all aspects of their business rather than having multiple stand-alone systems for each function such as finance, inventory management or customer service.In today’s increasingly digitized world, ERP systems now allow companies real-time visibility into activities within their operations; automate processes; provide detailed analysis of business performance; and increase accessibility to company data via the cloud.
The most widely-used ERP systems are those provided by Microsoft Dynamics 365, SAP ERP and Oracle NetSuite.
Enterprise Resource Planning (ERP) systems have proven to be highly beneficial at increasing organizations' productivity through automation and improved data management. And with several variations of ERP solutions available, including:
- on-premise ERP systems;
- cloud-based ERP solutions;
- hybrid ERP systems;
- industry-specific ERP solutions;
- small business ERP solutions; and
- large enterprise-level (or if you prefer large corporation) ERPs
Each type of ERP is associated with a different type of organization and has specific operational requirements.
Selecting an appropriate solution will depend on multiple factors, including your organization's budget, current and future size, industry, infrastructure choices, and your company’s goals.
Posted by Waivio guest: @waivio_jones
