Enterprise resource planning software refers to the business procedure management tool which allows businesses to use integrated application system in order to automate as well as manage their operations and activities, technologies, humans, services etc. This system is mainly used for those companies which are working with the supply chain in order to keep tracking of manufacturing as well as distribution procedures. The software businesses include SAP, Oracle, Intellect Soft, Tencent, Microsoft and so many whose primary products include software, technology, product development and distribution. Software or IT companies are deals in small, medium and large scale so that PROAD is the best software because it is customised process of all kind of organisations and it helps in making easier their daily work and operations.
ERP for Software Company
Enterprise resource planning is defined as a growth and developmental process of businesses that works for the betterment of organisations. It is defined as a centralised database for all the business processes in order to minimise labour and rings simplicity in workflows of companies. It is advantageous for the today’s business world and mainly at the time of Covid-19 issues this is mainly used by IT companies in order to manage their work operations. ERP Software contains dashboards where customers or users can able to look real time data in order to measures productivity as well as profitability. As software businesses require to manage various things at a same time so that ERP billing software makes it easy and simple to do. Some of the features are discussed below:
- Managing supply chain.
- Management of distribution process.
- Increase financial data accuracy.
- Standardise critical business activities.
- Application of accounting and financing.
- Provide better planning of projects.
Uses of ERP Software in businesses:
The application of enterprise resource planning can facilitate SAAS (Software as a service) which can be appropriately used in order to communicate properly and brings procedure of business together for enabling data flows between applications. It allows better performance as well as project management that assist planning, budgeting, forecasting and reporting financial health and procedures of businesses. Some of the values and benefits of ERP are discussed below:
- Cost saving: By using this kind of software for bringing automation in organisation’s services and working. As a result of this, it will help in increasing efficiency as well as productivity of businesses.
- Manage compliances: With the implications of regulatory standards or setting up alters for the non-compliances effective management of those are needed. So companies should use ERP software so that illegal issues will not be arises at their workplace.
- Enhance collaboration: in order to raise job efficiency coordination and collaboration between activities are required. This can be done by breaking down communicational barriers. Also, companies must emphasise on developing supply chain as well as reliability of distribution network.
- Inventory reduction: It is expensive to keep resources on hand than companies required. So that ERP solutions helps in proper inventory tracking as well as analysis which helps businesses to run smoothly without any burden. As software can track whole lifecycle from supply to sale and will suggest the inventory improvement over the period of time. By minimising the inventories, businesses can able to reuse storage space and minimise payroll expenses.
- Effective management of customers and partners: Every business must need to focus on effective management of customers, suppliers, partners along with the proper insights from shared information.
- Increase insights of business entity: With the aggregate sources of real time data and truth helps in increasing the process of decision making that results in appropriate insights of business.
- Standardisation of HR information: Most of the ERP Software deals in core human resource products such as management, payroll, time clock and scheduling. So that it provides standardisation in the management of whole information and features of HR.
- Scalability: It is considered as an essential term that should be required for all businesses to grow and develop. That kind of scalability can help in consistent infrastructure for operations.
- Improve communication: The ERP Software works as a single source of reality or all stakeholders of businesses for the purpose of comparing success and growth rate of company in order to make investment decision.
- Minimise risk: Bringing automation in the operations of core business, reporting and manual work leads in reducing the manual working, time and resources and human errors.
- Minimise software expenses: Enterprise resource planning allows team members to combines its tools into single unified system as it helps in minimising the paying subscriptions for different activities. Teams pay for unified platform which handles all tasks in a centralised forms and it depends on the size, nature and complexity of businesses which reduces software subscription expenses.
PROAD is a flexible ERP Software and simple usability for all the software, service or IT companies which offers modular solutions to the businesses that can be combined virtually and use at any time period. Once installed this software in businesses, the user interface of PROAD can be configured separately by all users. In addition to this, it tailored extensive range of services mainly for software or service kind of businesses and this software product can be incorporated databases as well as MS-Office applications which includes Word, Outlook, Excel and power point. PROAD Software is also known as clever solutions for all tasks. Each IT businesses perform differently and have single focus area. Each will adopt tried – tested software so that their work force will be able to do work effectively and efficiently in future along with the tracking all activities precisely. PROAD Software is the multi award winning as well as tried and tested ERP tool because for many years it has proven their worth at most of the companies nationally and internationally. It has been constantly developed and accepted to latest requirements from Basel 2 to cloud computing to mobile apps. Some of the top features of PROAD Software are considered as follow:
- CRM or customer contact.
- Project management.
- Staff and freelancers.
- Time recording feature with stop watch function.
- Cashbook and expenditure report.
- Management of contract and job.
- New business or sale.
- Tendering and budget administration.
Growing demand of ERP software for software or IT companies:
IT or software companies have brought various changes in the livings of normal people in several ways. This software assists companies to manage their functions and departments with few clicks on them. ERP software is demanding more and more and rise over the years and it will also be increased in forthcoming years as well. It is considered as a profitable tool that helps in increasing the company’s profitability and productivity with the efficiency. It works and systemised online planning mechanism and facilitates better solutions for fulfilling the business requirements which occurs within the present market place. It mainly includes marketing, purchase, sales cycle and stock management as well. It has been viewed that ERP software makes all solutions that is mainly reason behind more demand.
Frequency of ERP product featured in shortlists:
(Source: Top 10 ERP software vendor companies comparison 2020, 2020)
In the above diagram or graph it can be shown that the top seven products that are shortlisted by ERP buyers. Among all Net Suite was on top with 56.5% then Infor, Inc. with 30.7%, Multiview financial in 25.6%, Sage Intact with 23.1%, Epicor in 21.7, Navigator business solution and SYSPRO with 18.6 and 17.8 percent respectively in shortlist.
Statistics about ERP Software market revenue worldwide from 2018 to 2023 in millions U.S. Dollars:
(Source: Global ERP Software Market 2018 – 2023, 2020)
It has been viewed from the above statistics that SAP and Oracle are most two leading vendor within the market that is to be forecast to grow approximate 97 billion U.S. dollars by 2023.
From the above discussion it can be concluded that ERP software plays an important role in all kind of businesses but mainly it is crucial for software companies in order to manage all information and data online. It helps in minimising the manual works and errors along with the saving time, efforts and resources. Mainly these kinds of businesses works on technologies where information is stored online and automatically manage as per the needs of businesses. So that companies can be able to get correct information on time whenever they require without wasting so much time to search them.