What is ERP software and what are its benefits
ERP software is available across all industries with modules that are customized to business needs. Some examples of ERP modules include accounting and invoicing, inventory management, human resource management, supply chain management, customer relationship management and transportation and logistics.
If you are starting a new business, it makes sense to choose an ERP that is tailored to your needs, more so than making do with a generic software that can be used by any industry. This is because you will be investing in costly software so growing and maintaining the business depends on getting the most out of this investment. A customized ERP can help you achieve this.
It also makes sense to choose an ERP if you are already running a business and want to upgrade your software to enhance business efficiencies.
Evaluate your current software, compare it with the features offered by other ERP solutions and get value for money. Ask yourself, is it really worth the investment? Do you really need latest and unique solutions? ERP solutions vary in their functionalities, size and cost depending on the size of your business, complexities of managing customer relationship, number of suppliers or clients you have. For example, a small business may need only a basic inventory system with limited supplier management features.
ERP software comes in various flavors. ERP is a nice way of describing different solutions, with ERP 11 meaning that they are customizable and integrated with one another.
Comparison of Infor and Oracle ERP systems
INFOR is a provides a vast array of applications that are integrated with each other to give companies their ERP software solutions. Oracle’s ERP solutions focus on database computing, infrastructure and business applications. Oracle’s ERP software is built into the database so it won’t be necessary to purchase an additional server or database to run your company’s information. The database can be optimized for business by having your applications built on top of it.
Oracle’s ERP solutions will cost the enterprise a lot less than Infor’s. Oracle’s software applications are more comprehensive, more expensive and harder to use than Infor solutions. The Infor ETL (Extract, Transform and Load) package is a method that can be used on a database to electronically import data, transform it and then load it in your company’s ERP. This can save an enterprise time by reducing manual entry of data into the computer system. Oracle has developed their own ETL packages that do a similar job. Oracle’s ETL is better for importing unstructured data and transforming it into usable information. Oracle’s software is not supported by as many integrators, so an enterprise is more likely to have problems with Oracle’s packages than Infor solutions.
Factors to consider when choosing an ERP system for your business
After analyzing various companies, you need to look at how efficient their ERP software is. If your business has a high volume of transactions, it may be easier to implement an ERP software with uncapped licenses and a user base of thousands instead of hundreds. In addition, it is important to consider whether or not the system offers support for all the functions you require in running your business including inventory management, quoting and invoicing, sales orders and time tracking. Lastly, you need to take into account the amount you will be spending on the software, as well as your facility for maintenance and the extent of influence you have on the system.
“Factors to Consider When Choosing an ERP System” – Source: http://www.sourcefabric.com/comparison/erp-software-factors.html
“Supported Database Systems | Oracle” – Source: http://www.oracle.com/us/support/index.html?topic=always-supported-db-index-107936.0
“Supports most popular databases: Oracle, DB2, SQL Server, Sybase ASE, Teradata, Informix, MySQL… Read more »” – Source: http://www.oracle.com/us/support/index.html?topic=almost-all-database-systems-107935
“ABI certified Oracle 10g and 11g products” – Source: http://www.oracle.com/us/support/index.html?topic=certified-products