GUIDE TO ERP FOR START-UPS IN INDIA
GUIDE TO ERP FOR START-UPS IN INDIA
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-up, 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 a plenty on the plate for a start-up owner and his small team, with people heading more than two areas, which definitely leads to reduced productivity and that’s is a 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 that is essential for better and efficient business management.
As the name suggest, ERP is synonymous to something that will take care of every aspect related to the enterprise resources, from human to machines. It allows in recording, tracking, and reminding one of about the latest update on the project creating the foundation for the best services delivers in time to the clients.Despite this brief introduction, we, at The Startupcity Magazine have curated answers to all the question that may arise in your entrepreneurial mind:
How is ERP beneficial in my business?
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 bets 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.
Am I equipped to handle an ERP software?
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 concerns people usually have is that in a non-IT industry like healthcare or construction, am I equipped to handle an ERP software? Will I requirea 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 for your queries related to the ERPs for start-ups in India below.
Is ERP only a trend and it does not require my attention?
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 basically the ERP systems of today that were available to manage things like accounting, human resources and more.
Today, however, 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:
How is ERP useful in my industry?
ERP for start-up are asdiverse as the industries we have today, with their easy to use interface, their customisation, and their free trials, the ERPs for Startups are today easy to apply more than ever. They are the essentials that will not only brings prosperity by first hampering the accounting balances like many other technologies.
Today, not only the start-up with the intention to earn profits, but the firms with intention to change the 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 keeps on arising in the constantly changingglobal economy and the most important aspect of the ERP software in 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 are essential for start-ups as they offer different solutions from centralising 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, the construction of new spaces is created, there is ancompetitive 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 labour-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.
What about industries not related to manufacturing?
Now, as we mentioned above, the ERP software was actually stemmed from the manufacturing industry and it has come into the spotlight in the recent times as a software that can help manage other operations for various industry. So, well catering to the various types of industries with 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 the 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 is needed to be managed. Along with the different types of organisations and their elements like regulations to costs, there are various factors that one has to deal with when in a healthcare organisation. Enterprise Resource Planning or ERP software for startups allows in management of all these including patient care, payroll, supplies control, compliance where they help the small/medium organisation like a growing private practice or a large organisation like a leading hospital in need of operational assistance.
Best ERP 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 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 a stiff competition and it is becoming essential to recognise 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 same time.
The best ERP for Startups in the hospitality industry that can streamline their operations are Oracle NetSuite ERP, Marg ERP 9+ Software, Tally.ERP 9, PACT ERP, ERPNext, CREST ERP, CBO, and Deskera ERP Software
Professional Services Industry: Professional services, another boosting industry that allows the efficiency in solutions for the brand in other organisations 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 professional services industry allows efficiency in keeping a record of expenses and capturing employee data in efficient ways which ultimately leads to organisations having a plethora of benefits like a reduced billing cycle, low costs, increased profits and controlled inventory.
The best ERPs of the professional services industry are: Microsoft Dynamics GP, SAP Business One, NetSuite ERP, and Oracle E-Business Suite