Finding the Best Enterprise Resource Planning Software

A business benefits when data is shared and workflows are integrated. Yet it is still common for different departments within the same organization to use databases and workflows that fit only their particular operations, even though they might be using the same basic information as the rest of the business. Unfortunately, it’s easy for an organization to get caught in the vortex of multiple data and work silos.

Enterprise resource planning (ERP) software eliminates the silos and creates significant efficiencies by centralizing and integrating data and processes for both front-end and back-end operations. Modern ERP software goes way beyond its original mandate of cost-effective material resources management to coordinate additional related business processes, such as sales, inventory control, shop floor management and accounting.

We’ll outline the key features of modern ERP software and discuss how to identify the best ERP software for your business. First, we’ll take a look at the basics.

What is enterprise resource planning (ERP) software?

Enterprise resource planning software centralizes key business processes while streamlining and integrating business data and workflows. When people mention “ERP,” they are generally referring to a software system that includes applications for all of these key business activities.

ERP software provides an all-in-one electronic solution with multiple integrated applications, including accounting, purchasing, manufacturing and analytics. Most modern ERP systems are deployed via the internet, using a cloud-based platform that allows for easier scalability, implementation and updating. However on-premise ERP platforms are still an option for businesses who prefer more control over their data and software infrastructure.

Who is enterprise resource planning software designed for?

Where once ERP software was out of reach for many small and medium-size businesses, today there are solutions that fit any size company. And today’s ERP software is not just for manufacturing outfits. An ERP system can be beneficial for any industry that wants to integrate data with operations, including biotech/pharma, medical device, aerospace and consumer goods.

Some ERP software is designed for particular industries. QT9 ERP is a great fit for life sciences industries because of its recipe and design record capabilities, however, it can be a great option for any manufacturing operation and tailored to fit any industry.

Basic features of enterprise resource planning software

ERP software systems have come a long way in the last decade, with capabilities that run the gamut from invoice creation to material requirements planning (MRP). The most common ERP applications include:

Accounting

Basic ERP accounting functions encompass accounts receivable, accounts payable and general ledger functions, allowing organizations to oversee budgets and transactions from a single source. ERP accounting applications draw data from integrated applications, such as sales and purchasing, simplifying workflows and financial management. Analytics tools enable real-time insight into sales/purchasing, profitability and costs for optimal planning.

Manufacturing

Manufacturing ERP applications unify production planning and resource management, so companies can better manage costs while optimizing inventory levels. Manufacturers use it to set production schedules and allocate material resources using bill of materials and machine utilization. More advanced ERP manufacturing systems can automatically link sales orders to jobs, automate job scheduling, link to MRP planning and get built-in traceability for reporting and analytics.

Sales management

ERP sales management applications hone sales workflows for better internal use and customer outcomes, with the goal of increasing revenue. Sales workflows are automatically integrated with related business processes, including accounting and manufacturing.

Purchasing

ERP purchasing applications enable you to manage all purchasing processes from one central system. This includes material requirements planning, PO approval, supplier management and receiving inspection. An integrated ERP enables businesses to monitor purchasing activities and quickly address any issues that arise.

Inventory control

ERP inventory control applications allow organizations to track inventory across locations, using barcoding to quickly capture inventory data that is used throughout its lifecycle, from warehouse to production to after-market monitoring. Inventory applications give businesses real-time insight into inventory levels and can be configured to automatically initiate common inventory management tasks, such as allocate inventory or auto-reorder/manufacture product when it reaches a certain level. Material purchases can be easily monitored and warehouse space optimized with built-in forecasting features.

What makes the best enterprise resource planning software?

Every organization must evaluate its current and projected operational requirements to determine what ERP platform is best suited to their needs. Outside of basic ERP software applications, other significant features to look for in ERP software include:

Real-time data and analytics

ERP systems provide a single source of truth for all operations, giving employees and management real-time information about key business processes. This comprehensive view enables management to make informed decisions faster. With advanced reporting and analytics, businesses can easily identify trends, predict potential challenges and make proactive adjustments to improve performance.

Easy to use

Software that is easy to use significantly improves user adoption, increasing productivity and allowing a wider range of users to access its functionality without extensive training. A good ERP system lets you accomplish tasks with fewer layers, providing clear guidance and prompts with an intuitive interface.

Scalable

Most small and medium-size businesses will not need to or have the resources to implement all applications in an ERP suite at the same time. The best ERP systems allow businesses to scale the software to their immediate needs, leaving room to implement other modules down the road when it makes more sense for growing business operations.

Provider support

The support provided by an ERP software provider is integral to the continued success of its use. Whether its in-person or internet-based consultations, a library of templates and documentation or how-to videos, look for the kind of ERP software provider that offers support that fits your needs. Any provider worthy of your business will offer support for its product throughout its use, from implementation to everyday use.

 Cloud-based platform

Today’s cloud-based ERP platforms make software implementation and updates easier than ever. It also saves your company from having to employ personnel to maintain the system. Out-of-the-box ERP systems that offer pre-built modules and features are ready to deploy as soon as the user is ready. Look for out-of-the-box solutions that match your needs from the start, as customization is usually limited.

Cost effective

There are many pricing models used by ERP software providers. Make sure your business’ needs are covered by the core applications provided, and be aware of which applications are add-ons and at what cost. An out-of-the-box solution can provide robust applications while saving money for your organization.

Benefits of enterprise resource planning software

The most obvious benefit of ERP software is that it automates a business’ day-to-day processes and integrates them into one, unified system, improving operational efficiency and reducing the need for time-consuming, error-prone manual input. Key benefits include:

Enhanced productivity

ERP systems automate routine tasks, reducing the need for manual data entry and minimizing human error. This speeds up workflows and allows employees to focus on more value-added activities. Automation also contributes to faster response times, quicker time to market and better overall productivity, leading to more satisfied customers.

Fostering innovation

By eliminating time-consuming manual processes, ERP software frees up resources that can be redirected toward innovation and strategic initiatives. Additionally, the real-time data and analytics provided by ERP systems enable companies to make informed decisions, quickly identify new market opportunities and innovate more effectively.

Streamlined regulatory compliance

ERP solutions often come with built-in compliance features to help businesses meet regulatory requirements. Automated reporting, audit trails and accurate record-keeping simplify the compliance process, reduce the risk of fines and allow companies to focus on growth and innovation while staying aligned with industry standards.

Real-time data access and reporting

With all business operations integrated into one system, ERP platforms provide real-time data across all departments. This gives management a comprehensive view of performance metrics, such as financials, inventory levels and production schedules, enabling data-driven decision-making and quick responses to market or operational changes.

Improved risk management

ERP systems enhance risk management by providing greater visibility into resource allocation, inventory and operational processes. Centralized data reduces the likelihood of errors and enables stricter control over access to sensitive information, ensuring that only authorized personnel can view or modify critical data.

Enhanced collaboration

ERP systems break down silos by centralizing data, allowing teams across different departments and locations to collaborate more efficiently. With a single source of truth, there’s less risk of miscommunication or duplicated efforts, improving project management and ensuring that business units are aligned with overall company goals.

Strengthened data security

ERP platforms offer robust security features, including centralized data storage, encryption, secure cloud environments and regular updates to protect against potential threats. Role-based access ensures that only authorized users can access sensitive information, enhancing data security across the organization.

Cost efficiency

By automating and integrating business processes, ERP systems reduce operational costs. Less time is spent on manual data entry, and fewer software systems are required to manage various business functions. Improved visibility and resource management also help businesses minimize waste, further optimizing cost savings.

QT9 Enterprise Resource Planning Software: QT9ERP

QT9 ERP is a comprehensive system that can work for any size company, in any industry. QT9 ERP improves efficiency and accuracy through integrated data and automated operations, all without breaking the bank.

QT9 ERP provides more than 17 modules as part of its standard offering, as well as easy access to data and analytics to help manufacturers make the best decisions for moving forward. With QT9 ERP you get:

• 17+ modules, including unlimited Bill of Materials
• Quick implementation
• Tailored customer support
• Customer, compliance, supplier and physical inventory web portals
• Lot and serial number inventory control
• Access to digital business intelligence and analytics

QT9 ERP also offers electronic batch record (eBR) and device history record (DHR) applications to address the needs of life sciences companies. Our ERP system lets you configure processes to best meet your needs and is highly scalable, so you can implement at your own pace.

Reach out today for more information about QT9 ERP.