What is an ERP and how do they differ?
Fast forward, because of the boom of technology and the advancement of electronics so as the development of software to be used in businesses to maximise profit yet efficiently helps them innovate, scale and grow quickly. And, with this ingrained in mind of enterprises thus, a complete software solution for Enterprise Resource Planning is needed.
Let’s dig into the basic comprehension of what is Cloud Based ERP’s all about, but before we define it, we need to have an understanding of Enterprise Resource Planning (ERP).
What is ERP?
Enterprise Resource Planning (ERP) is an industry term for complete set of services that helps businesses manage, organise and aggregate data across business departments. ERP is a type of software that holds the whole organisation and integrates the entire functioning departments to make it work as a unit. ERP software consolidates all modules of business in one application with single archive that allows a real-time communication and information transfer from one section to another. Functionality wise, the software has been readied with analytical tool to easily interpret the business standing and covers the main modules of business:
- Supply Chain Management
- Customer Relationship Management
- Sales and Marketing
What is a Cloud Based ERP?
The introduction of Cloud Based ERP is a game changer to many businesses as profound numbers of enterprises acknowledge the effectiveness of the software. To put it simply, Cloud Based ERP refers to ERP software and tools that is advance, configured and continuously updating system that allows businesses to focus on business productivity and exert lesser energy on a day to day IT management. It allows users to access over the internet through web browser or web service to internal and external business points. Among many advantages of using Cloud ERP let’s list down some of the major benefits of using Cloud Based ERP:
- Single System Management
- Strong Data Security
- Focus Driven on Business Production
- Speed Implementation
- Efficient Communication and Management
- Cost Effective
On-Premise ERP versus Cloud ERP’s versus “True” Cloud ERP
With fundamental understanding of ERP and Cloud Based ERP as a tool – we can now define the most common discussion for you to head on when you consider and decide an ERP solution to your business. Before you move forward in choosing from more than a handful options of Cloud Based ERP, you need to take into account the difference of On- Premise ERP versus Cloud ERP’s versus “True” Cloud ERP.
- Locally Installed; Use Company’s Own Computers and Servers
- Price Under One Time Perpetual License Fee
- Requires A Full Time IT Admin
- Requires Heavy Customizations
- Requires Manual Monitoring
Fake Cloud Based ERP
- Software as a Service (SaaS)
- Hosted/ Single Tenant ERP
- Price Under Monthly or Annual Subscription (not at all instances)
- Continues And Regular Updates
- Integrate To Third Party Via API Connection
True Cloud ERP
- Multi-Tenant ERP Solution
- Designed for Internet
NetSuite as a True Cloud Based ERP
NetSuite under Oracles Cloud ERP is a cloud computing system that provides software and services that manage business finances, operations and customer relations. It caters to thousands of small, medium sized and large enterprises. NetSuite as the first cloud computing software company underwent to a huge system changes and updates to stay afloat with the rapidly evolving technology.
Offers four main software solutions varies to different products, services, support:
NetSuite Unified Cloud Platform
- Built for the Cloud
- Built on Oracle Stack
- Built to Run a Business
- Unified Data Model
- Everyone on Same Release
- Point & Click Customisation
- Powerful Scripting
- Visual Workflow Builder
- Integration APIs
- No Version Lock
- Built-in Platform
NetSuite ERP / Commerce / PSA
- Enterprise Resource Planning (ERP)
- Professional Service Automation (PSA)
- Supply Chain Mgt. (SCM)
- Omnichannel Commerce
- Customer Relationship Mgt. (CRM)
- Human Capital Mgt. (HCM)
- Built For NetSuite (BFN)
- Multi-country tax compliance
- Master Data Management
NetSuite is a powerful cloud based ERP that can interconnect, customize and affords to draw data from shared database. Envelop the entire suite of solutions, specifically tailored for individual companies and has it all in one combined suite.
A pathway to success can be open as NetSuite platform provides the right tool to every user type. With thousands of successful implementations and reliable stories on delivering clients value focused on robust growth in customers and revenue thus, NetSuite as True Cloud Based ERP remain as one of the leading SuiteSuccess solution in the industry.