What is an ERP system? TOP 5 best business management ERP software

Recently, more and more businesses are interested in applying ERP software in business management. So what is ERP? Why does the ERP system attract such special attention? Join Viindoo to learn about the ERP system and the outstanding strengths that ERP management software can bring to businesses.

What is ERP system?

ERP stands for the English word "Enterprise Resource Planning" meaning enterprise resource planning system. A typical ERP system includes all the basic functions of an organization integrated into a single system. 

The advent of ERP software has helped businesses operate as well as processes become more streamlined. Instead of having to use independent functional software in parallel such as accounting software, and human resources software, and production software, ERP allows businesses to integrate all management software in the same system. Thanks to that, management boards and businesses can grasp the flow of information and collect data easily. The characteristic of ERP is that all processes in the business are CONNECTED together on the same system smoothly from start to finish.

>>>> Read More: Important and Necessary ERP Modules for Businesses

Benefits of using ERP business management software

It can be said that the power of ERP lies in data. The software connects all functions, processes, and departments of the business on the same platform. Here are some benefits of ERP brings to businesses:

Centralized, unified data management: Instead of having to maintain many different databases, when implementing ERP, business data will be comprehensively organized and managed. Centralized database management gives employees the ability to create and access reports quickly, minimizing delays when synthesizing information, especially for large and small businesses. complicated.

Standardize information, minimize errors when entering data: With ERP, data only needs to be entered once, information will automatically be stored synchronized between departments, helping to minimize errors. and save data entry time.

Collect data quickly, speed up work flow: Compared to performing processes manually, documents must be transferred from one department to another, applying ERP software solutions Helps increase working speed. Furthermore, ERP solves the problem of "bottlenecks" in businesses.

Easy operation control, effective business management: ERP has an "Audit Track" feature that helps management check employee activities on the system. Thanks to that, managers quickly identify transactions that need to be checked and monitor the entire process, implementing internal control easily.

When should you use ERP software for your business?

The following are some cases that show that units really need ERP applications in the business:

Case 1: The old management system hinders the development of the business

Businesses are using software systems such as Excel, Word, offline tools with limited features, it is time to need a better, more flexible ERP system to allow businesses to grow and improve their capabilities. ability to compete with the market that is innovating every day out there.

Case 2: Enterprises use too much discrete software

Businesses use separate software, not connected to each other. For example, accounting software is not compatible and integrated with HR software, and HR departments and business management experience fatigue in comparing timesheets and payroll calculations, as well as difficulties. When tracking personnel costs in the company and countless other manual tasks, this is the time for businesses to apply an ERP system in their business.

Case 3: Does not meet customer expectations

The enterprise system does not meet the increasing needs of customers, leading to falling behind and reducing competitiveness, which is a sign for businesses to deploy the ERP system. For example: Today, customers demand a seamless experience across sales channels, from websites, mobile applications to stores, etc. ERP can provide a single platform to manage all chief. Enables businesses to provide customers with a seamless experience, regardless of the channel they use.

In addition, some other signs that businesses should use ERP management software are:

• The business plans to expand its scale of operations
• Businesses update new business technology trends
• Enterprises encounter problems in management, cumbersome apparatus, and ineffective decision making
• Businesses often encounter errors and mistakes in operations and data
• Businesses need to increase productivity to meet business needs

>>>> Maybe You Will Need: ERP implementation consulting

TOP 5 best ERP business management software

Viindoo ERP software

Viindoo is a provider of comprehensive ERP business management systems. With Viindoo ERP, with just one device connected to the Internet, businesses can consolidate all data and work processes of departments on a single system. In particular, this software is very suitable for small and medium-sized companies, supporting control of business resources at optimal costs, thereby providing the most effective method.

The features of Viindoo software are linked together, synchronize data, providing a consistent experience for users. Users can automate manual data entry processes, manage business operations effectively, improve human resource quality, minimize costs and maximize profits. Besides, Viindoo is constantly developing and providing periodic updates to improve performance, security and add new features, ensuring that businesses are always using the latest and most effective version of the software. ERP software.

Outstanding advantages:

• Friendly interface design, easy for users to access and use
• All data is stored and managed centrally on a single platform.
• Allows the automation of repetitive tasks and processes of the business.
• Capable of unlimited integration with other software in the business, creating a powerful and linked information system.
• The ability to meet a variety of business needs, from basic requirements to specific requirements, makes this software flexible and adaptable to all situations.
• Provide tools to support analysis and prepare comprehensive, transparent and accurate reports for businesses.
• Managers can easily control through a unified, effective working process and plan appropriate business strategies.

>>>> See More About: ERP software for small and medium businesses

Oracle NetSuite ERP software

Oracle NetSuite ERP is the best-rated foreign ERP software because it is not only superior in all aspects but also continuously improves software features and is a comprehensive business solution. The applications of integration in Oracle NetSuite ERP can be applied to many different industries such as financial services, consumer goods, healthcare and IT. The software allows users to access many features at the same time, helping businesses control and operate a variety of business activities effectively.

Outstanding advantages:

• Access anytime, anywhere, any device easily.
• The system can be used for many different types and industries.
• Suitable for medium - large sized companies.
• The system has many features and can be easily customized.
• Dashboards allow for intuitive reporting setups, with a logical hierarchical structure.

The only drawback: Deployment can be resource-intensive

Odoo ERP software

Odoo ERP is an open source, customizable solution. The software has all the tools to support business processes, from customer relationship management (CRM) and point of sale (PoS) to time off requests and expense reporting to publishing and live chat. With Odoo ERP, you can also easily integrate with many popular third-party applications such as Microsoft Office, Google Drive and QuickBooks. You can also integrate Odoo with Zapier, which will allow you to connect Odoo with thousands of other apps.

Outstanding advantages:

• Possesses an intuitive, simple, and scientifically arranged interface design.
• There are full basic subsystems or modules such as POS, CRM, warehouse management, human resource management,...
• Allows businesses to customize desired features, even expand links with 3rd party applications.
• The system allows decentralization, monitoring and strict control of user access history and activities.
  

The only drawback: Customization and troubleshooting can be expensive or cumbersome for a small IT team.

ERPNext software

ERPNext is completely free source code ERP software. Users can install, store and operate locally with basic features, suitable for SMEs. Paid options will range from $50/month (Unlimited users). ERPNext can handle every need from CRM, helpdesk, content management, project management, human resources, payroll, order management to inventory management. In particular, it offers many integration options with popular third parties such as WooCommerce, Shopify, Google Drive, Amazon and Stripe.

Outstanding advantages:

• The interface is highly appreciated by users for its friendliness
• Allows users to access and customize source code according to needs
• Easy-to-use interface, helping users easily access and interact with the system.
• Ability to analyze data and create real-time statistical reports.
  

The only drawback: May require extensive IT resources for implementation and customization.

SAP Business One software

SAP is also one of the leading ERP software providers abroad. SAP Business One solution is designed specifically for the SMB market, with a lower price compared to other SAP services. With more than 500 extensions, SAP Business One has impressive customization capabilities, allowing users to build applications, automate mundane tasks, and create their own ERP ecosystem for businesses.

Outstanding advantages:

• Flexible, modular deployment for SMBs
• Synchronize data, minimize errors and limit time lost when entering data multiple times.
• There is support for VAS reporting
• Fast processing speed in real time
• User-friendly interface, even for non-IT users.

The only drawback: Utility limited to a few hundred users.

Criteria for choosing a suitable ERP system

To help you narrow down your options and find the most suitable ERP software, we summarize the core criteria for evaluation as follows:

Ability to meet user needs

ERP software needs to have diverse functionality, meeting almost every business process need across the enterprise. Enterprises need to clearly define their requirements for the system, thereby evaluating the level of response of the software.

For example, some free ERPs will be logistics platforms with moderate additional functionality, while paid ERPs will be full-featured, powerful tools for all teams/departments in the business.

User experience

ERP systems written on request are often complex, requiring employees with technological qualifications and proper training to apply effectively and successfully. Instead, businesses should prioritize choosing user-friendly software with a reasonable and scientific design that allows easy operation without requiring expertise or much understanding of technology.

Integration and extensibility

The gap between ERP systems designed specifically for SMBs and for large enterprises is gradually narrowing. The reason is because ERP software is being developed as open source code, allowing users to expand features and easily integrate with other tools. This factor is to evaluate whether ERP can grow with the organization and continue to meet the needs of the organization in the future, when scale and administrative requirements change, requiring software system upgrades.

Customizability

Not all businesses operate the same way. Therefore, customization features will help businesses easily change the software to suit specific needs. Thanks to that, the usage and operating process are also easier.

Investment costs

ERP cost is also an important factor that businesses should consider when choosing. Because it needs to be consistent with the financial capacity of the business. Businesses need to clearly identify costs such as: Software costs, implementation costs, training costs, annual maintenance costs... to come up with a certain investment budget during the selection process.

If the budget is large, businesses can absolutely use foreign ERP or customized ERP. However, if you have a limited budget, the most reasonable choice is probably to use packaged ERP.

Reputation of the supplier

The ERP provider partly determines the success of project implementation. They will be the unit to advise, evaluate and provide ERP software to you as well as accompany you throughout the implementation process. Therefore, choosing a reputable and experienced supplier helps ensure successful ERP system operation. In addition, the platform provider also supports deployment and training of personnel to use the tool. Save some costs for businesses.

Support service included

During the implementation process, it is certainly difficult to avoid problems arising such as errors, incorrect operations, confused processes... Therefore, businesses will need a unit to support and accompany throughout the process before - during. – after ERP implementation.

Viindoo is a unit trusted by many businesses such as BDO Vietnam Auditing Company Limited, Truong Giang Electric,.... Using Viindoo's solutions, business administrators, especially medium-sized companies Children and young people also receive training support and implementation consulting throughout the process of using the system. All are integrated in the same platform. In addition, Viindoo also supports businesses to use it for free for 15 days for the most intuitive experience.

Notes when using ERP systems in businesses

ERP has two limitations that businesses need to keep in mind when using:

High cost: This is not a small investment for many businesses. Pre-deployment costs often account for the majority, while ERP system maintenance costs usually account for about 15 - 20%. In addition, other costs such as upgrading and expanding the ERP management system will depend on the needs of the business.

 To optimize costs, businesses should set a fixed budget, then search and filter suppliers with solutions suitable for that budget.

Long time: Unlike stand-alone software, implementing a comprehensive ERP system takes more time. The average time to operate ERP in an enterprise is 3 - 9 months for small and medium-sized companies and 6 - 18 months for large-scale companies (depending on factors such as size, complexity, etc.). , number of users). Besides, you will also spend more time transferring data from the old system or integrating with the old system.

 To optimize time, businesses need to plan the ERP project and set an estimated time to complete the implementation.