India is becoming the largest start-up ecosystem in the world with start-up hubs across its cities. Well, as we have now an array of start-ups, there is the inevitable cut-throat competition.
Well, in such a situation, the question arises, how to grow a brand from its initial stages into a billion-dollar brand?
From accounts to process management, there is plenty on the plate for a start-up owner and his small team, with people heading more than two areas, which leads to reduced productivity and that is an area that one cannot ignore and should attend to immediately.
So, ERP, or Enterprise Resource Planning software comes into the picture as a prominent solution. The solution is essential for better and more efficient business management.
As the name suggests, ERP is synonymous with something that will take care of every aspect related to enterprise resources, from humans to machines.
It allows for recording, tracking, and reminding one of the latest updates on the project creating the foundation for the best services delivered on time to the clients.
Despite this brief introduction, we, at The Startupcity Magazine have curated answers to all the questions that may arise in your entrepreneurial mind:
Well, we understand that each industry is different and requires undivided attention on specific operations but investing in ERP is a decision taken by many brands that are looking to manage their resources, a very clear fact that has been stated enough.
Every brand from different industry faces a lot of challenges as it enters a market. But as it pivots, there is a need for acknowledgment that assistance to manage the plethora of activities via a centralized and integrated system is essential.
Today, we can witness many new start-ups which invest in one of the best ERP for start-ups and helps in operations from internal processes of manufacturing to distribution, every industry offers different factors and traits and hence, every industry has a different ERP.
Well, your concern is only natural as many startup owners would ask themselves the same question before investing their valuable resources including time and energy into adapting a new software.
The major concern people usually have is that in a non-IT industry like healthcare or construction, am I equipped to handle ERP software? Will I require a team who has the knowledge to work with the software?
Secondly, as mentioned above, every industry is different, so even though a company has the same operations for manufacturing, financing and they might have different requirements and thus require ERP software.
Well, don't worry we have answers to your queries related to the ERPs for start-ups in India below.
Well, ERP or Enterprise Resources Planning is a term that was coined around 40 years, Yes, with its roots in the manufacturing sector where it was used to describe the MRP systems, these systems were the ERP systems of today that were available to manage things like accounting, human resources and more.
Today, however, the ERP industry has undergone major changes and with this transformation of new technology, it is now used in several other industries. Which brings us to the next question:
ERP for start-ups are as diverse as the industries we have today, with their easy-to-use interface, their customization, and their free trials, the ERPs for Startups are today easy to apply than ever.
They are the essentials that will not only bring prosperity by first hampering the accounting balances like many other technologies.
Today, not only the start-up to earn profits, but firms to change society, the non-profit organizations in need of smooth processing are opting for ERP software. Here is a list of industries that are better off because of ERP software.
Manufacturing & Distribution Industry: Various requirements keep on arising in the constantly changing global economy and the most important aspect of ERP software in the manufacturing and distribution industry is that, it enables distributors and manufacturers to keep their cost, supply chain, and inventory under control, to overcome the competition and keep in sync with the customers.
The ERP software is essential for start-ups as they offer different solutions from centralizing workflows such as sales analysis, inventory management, and supply chain management to providing modules designed to accommodate most production cycles.
They integrate all facets of an operation, including product planning, development, manufacturing processes, sales, and marketing.
The best ERPs for manufacturing include Epicor ERP, NetSuite ERP, IQMS, Plex Manufacturing Cloud, Oracle ERP Cloud, Microsoft Dynamics NAV, Infor CloudSuite Industrial, and SAP Business All in One.
Construction Industry: As the world transforms, construction of new spaces is created, and there is the competitive and challenging market environment in which the use of material resources and a high degree of flexibility in project management are very important.
ERPs for startups in construction industry have been easing the processes and offering solutions like optimizing planning, streamlining project management, facilitating cost & revenue estimation, simplifying the exchange of information, and improving the decision-making process.
They are extremely helpful when it comes to manual, time-consuming, and labor-intensive processes, control expenditures for raw materials and employees, reduce IT costs, get rid of unnecessary downtime, and meet project deadlines.
The ERPs can help construction companies by assisting them in streamlining their operations with automated workflows, not to mention inventory management so that supervisors can focus on their job at hand, not drown in paperwork.
Now, as we mentioned above, the ERP software stemmed from the manufacturing industry and it has come into the spotlight in recent times as a software that can help manage other operations for various industries.
So, well catering to the various types of industries with a focus on their specific products for specialized industries, ERP has branched out to support industries only partly related to manufacturing, and in some cases, completely unrelated to the production of goods.
Health Care Industry: In recent times, an essential industry, healthcare has faced many challenges. While it is a diverse industry inclusive of drug development to nursing homes, there are a lot of different operations that are needed to be managed.
Along with the different types of organizations and their elements like regulations to costs, there are various factors that one has to deal with when in a healthcare organization.
Enterprise Resource Planning or ERP software for startups allows for management of all these including patient care, payroll, supplies control, and compliance where they help the small/medium organization like a growing private practice or a large organization like a leading hospital in need of operational assistance.
The best ERPs for start-ups in the healthcare industry are Mckesson, Intacct, Infor, Healthland, Harris Enterprise Resource Planning, Evident, and SAP.
Hospitality Industry: When it comes to the hospitality industry, there is nothing that exceeds priority in their goals than customer satisfaction.
Any small mistake or delay in any prices from booking to check-out can result in a severe problem for the brand as every customer is a marketer today with their mobile phones and social media channels.
So, it is evident that there is stiff competition and it is becoming essential to recognize the need at the core of the brand's management with ERP to enable an organised and responsive performance of daily activities.
To manage all the moving elements in a brand that is a part of the industry, one has a high chance of losing a client if even a single part is not in sync to offer the best service to customers, the automated workflows of ERP software can help save time and reduce stress both at the same time.
The best ERPs for Startups in the hospitality industry that can streamline their operations are Oracle NetSuite ERP, Marg ERP 9+ Software, and Tally.ERP 9, PACT ERP, ERPNext, CREST ERP, CBO, and Deskera ERP Software
Professional Services Industry: Professional services, are another boosting industry that allows the efficiency in solutions for the brand in other organizations who opt for the professional services to be availed for optimum efficiency, and ERP software helps professional services in several areas.
ERP for startups in the professional services industry allows efficiency in keeping a record of expenses and capturing employee data in efficient ways which ultimately leads to organizations having a plethora of benefits like a reduced billing cycle, low costs, increased profits, and controlled inventory.
The best ERPs in the professional services industry are: Microsoft Dynamics GP, SAP Business One, NetSuite ERP, and Oracle E-Business Suite