ERP software is not a new thing in the market. These tools have been there since a while but are not utilized or understood appropriately. There are multiple benefits of having an ERP software solution, but more than that, there are more misconceptions in the minds of the users. Not knowing the ERP software simply means not knowing what an ERP is?
So, let’s understand first about the ERP software and later we’ll move towards the misconceptions related to the same.
What is ERP Software?
Answering what is ERP is simpler than realizing its true potential. An ERP or Enterprise Resource Planning Software is business management software that automates the daily business functions and reduces the manual efforts and time absorbed in mundane tasks.
From inventory to financials to SRM it manages end-to-end business functions with greater accuracy and efficiency. With its 360 degree bird’s eye view, it renders greater transparency to leaders to keep a tab on all business functions even from remote locations at any time. It also empowers the users with greater insights into business and creates a central database for the entire organization to establish enhanced cohesion and reduced miscommunication. Its anytime access to the users enables them to stay always updated with the business insights.
But, with so many benefits of ERP software solutions, we also have some misconceptions related to the same and thus, having learnt so much about the ERP, we must bust these myths. Let’s take them up one on one.
Myth 1: ERP is for Larger Enterprises
Many small to midsize businesses leaders think that ERP tools are designed for large businesses only. But, this is certainly not the case. There are many ERP software available in the market as per the business size. For example, the leading ERP software manufacturing company, SAP, has a range of products that are equally potential in their functionality but are meant for different business types. These have been categorized on the grounds that large businesses often have complex business functions and small to midsize do not have too many departments. So, you can choose the solution that best fits your needs.
Myth 2: ERP is used only in Finance/Accounting Industry
Earlier legacy software like tally was used just for the accounting purpose and thus, not other departments used to have it. But now, there is a range of ERP tools available in the markets that are specific to the industry type. Example, SAP Business One ERP software solution, this software has different modules and functionalities that are specific to the industries, like SAP B1 for Pharma, SAP B1 for chemicals, SAP B1 for food & Beverages, etc.
Myth 3: ERP is Expensive
Smart and efficient ERP software like SAP Business One is available in an easy subscription method that is billed monthly or annually per user. This subscription method makes it easily accessible for even small to midsize marketers to afford the same.
So, if you were confused about ERP software? Don’t be now! Just leave all your insecurities aside and adopt the best-fit intelligent software today!