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Niche ERP solution to automate your business operations and processes…*
Introduction
What is an industry-specific ERP solution? In a nutshell, it’s a feature-rich system that meets the exquisite needs of your niche. This ERP system encompasses specialized modules and functionalities that your industry needs.
A lot of extravagant ERP platforms are generic in nature enabling organizations crosswise a broad spectrum of industries to use them. However, one size doesn’t fit all.
Capitalizing on ERP software is a multi-faceted process. Today, we will be sharing everything you need to understand and know about industry-specific ERP to help you decide if it’s appropriate for your organization.
What is a Generic ERP Solution?
While generic ERP solutions assist companies in easing and streamlining their respective processes, they possess the vast functionality following accounting, finance, and general business management; thereby offering basic functionality for operations.
For this reason, organizations with intricate operational goals often use generic ERP software solutions to develop a complete solution.
For instance, they might add expansive customizations, modifications, and add-ons to complete their routine tasks. Gradually, the system became expensive and more labour-oriented than anticipated.
Another major drawback of generic ERP software is it encompasses base functionality that does not apply to a few industries.
What is an Industry-Specific ERP Solution?
An industry-specific ERP solution also referred to as a niche ERP solution, assists businesses to automate their accounting, finance, and business management functions, but it doesn’t take a halt here.
This platform is capable of aligning with the industry’s exquisite needs. Besides, it combines them all in one comprehensive solution that basically doesn’t need expansive customizations, third-party software products, or expensive add-ons.
This avenue helps executives to rest assured that their employees can access the accurate tools they need to carry out their jobs. Starting from advanced distribution and manufacturing functionality to dynamic retail proficiencies, these solutions have exceptional features that you cannot afford to overlook than generic platforms.
Mesmerizing Benefits of Industry-Specific ERP Solution
1. Minimized Total Cost of Ownership
The total cost of ownership (TCO) is the costs linked to a project, encompassing the cost of the initial purchase and the ERP implementation costs you incur over the lifecycle of the system.
Generic ERP systems fail to meet the demands of a particular industry, hence, they’re often available at a lower initial price. Most business owners discover that they need to customize or substitute this software to meet their requirements.
These customization costs can be immense to implement, and if your firm updates its ERP system, the customizations will have to be rewritten, which is not at all affordable.
Industry-specific ERP solutions enable you to overlook these surplus costs and make sure of a lower TCO.
2. Quick Implementation
Industry-specific software is built with the right functionality you need, and the vendor is similar to an expert in your space. That is they can implement the solution comparatively quickly, hence you can start reaping the fruits.
The same cannot be assured concerning the generic ERP solution. It often requires an extensive team of developers and systems staff members to make the system as anticipated.
Not to mention that implementation is ever quick and easy. While there are ways to implement it in a minimal timeframe, it’s merely short in comparison to what it would have been if you implemented a generic ERP system. The only implementation that is real-quick and seamless is one destined for ERP failure.
3. Admittance Industry Best Practices
Industry-specific ERP systems have built-in functionality to address these requirements. Also, these modules are constantly updated by vendors as industries emerge.
For example, food and beverage manufacturers have to follow a few regulations that include, food safety, proper labelling, etc. As such, an F&B-specific ERP solution will encompass tools that support these needs.
The capability to meet the merging regulatory requirements and adapt to industry alterations is a must for a company’s long-term success. Niche ERP systems help you to proactively plan for these modifications instead of being blindfolded.
4. ERP Vendors With Industry-Specific Knowledge
When choosing an industry-specific ERP system, you’re associating with an ERP vendor that a deep experience and knowledge in your niche. This not only makes it easy to communicate and share ideas, but it also means that your vendor understands the most complex business needs.
The outcome is an ERP system that is easy for your employees to use and understand and one that would delight your associates and customers.
This is the case if you operate with any original equipment manufacturers (OEMs) that you need to cater to certain requirements before they can carry out business with you. However, a generic solution might not be flexible enough to accommodate these merging demands, an industry-specific one is.
5. Quick Issue Resolution
When your vendor possesses domain experience in your industry, they can address issues and provide resolutions quickly as compared to generic solutions providers. That is you face any issues with your system, you can discuss the same with someone who understands your exceptional position.
When avoiding downtime is taken into consideration, every second and experience matters. You cannot afford to lose time explaining, bottlenecks, errors, or other issues to a vendor with restricted experience in your niche.
6. Sturdy Customer Concentration
With industry-specific systems, life is easier for employees, they are built with your customers in mind. That is because they empower the exceptional processes that define your industry, which initiates with understanding the needs of your end-customer.
The tools and functions that drive an effective workplace also make your customers happy. Choose an ERP system that enables a manufacturer to seamlessly track job processes. With this enhanced transparency, they can spot potential issues before they come up, preventing issues that negotiate over quality and result in delays.
Is An Industry-Specific ERP Solution Apt For You?
A successful ERP implementation undoubtedly depends on discovering the best-fit solution for your needs. An industry-specific ERP can provide that improved fit as its functionality is built for the requirements and pain points of your sector. That is, industry-specific ERP software often assists companies to generate better ROI quickly than generic ERP solutions.
Working with specialized ERP software partners like Smartinfologiks can provide powerful results, thereby ensuring that your preferred ERP solution offers long-term scalability. It’s our commitment to helping companies get ready for what’s next by creating industry-specific features that will enhance business processes and empower your firms to maximize profitability, drive data-driven decisions, and future-proof your functionalities as well as operations.
