ERP solutions come in all sizes and shapes. There are comprehensive, packaged systems, cloud-based ERP solutions, specialized ERP solutions customized to a particular industry, modular ERP solutions, and even single feature-based ERP tools. There are so many options that it can be difficult to make the right choice. The ERP solution you choose has to cater to your business’ needs.
For instance, running multiple companies might require a multi-company ERP solution that supports easy information flow across your companies. If your business operations are focused on sales and inventory, you need an ERP solution with sales and inventory management features.
And on top of the features supported, you might also need some customization that can help you adapt the ERP to your requirements. There is also the cost factor you will have to consider when making these choices, as well as the balance between the features you need and those you can let go of.
So, what are the winning qualities you need to look for when choosing your ERP solution? Here, we discuss the three unique features your ERP solution must have.
1. Modularity
Modularity is the extent to which software can be divided into smaller modules.
What is a modular ERP system?
Modularity is the capability of the ERP solution to extend or cut down on modular features based on your needs and requirements. For instance, if you want project management and HR management modules only, you can opt only for these features and pay only for these modules, all the while keeping the option open for any additional modules in the future.
Find out what modules Vault ERP offers.
Advantages of a modular ERP
So, how is a modular ERP better than a comprehensive packaged ERP solution? For starters, it saves you money. You only pay for the modules you use and can choose to expand to other modules only when necessary, whereas you must invest huge initial capital in the fully comprehensive packaged ERP solutions. Here are some more advantages of a modular ERP:
- Modular ERPs allow for efficient scaling up and down of ERP functionalities.
- They allow you to enact two-tiered implementations in a multi-company setup.
- They allow for efficient adoption and utilization of ERP features, as modules allow you to make smaller initial investments into the ERP, so you can get used to the ERP system and allow for phased implementation.
Read on: Modular ERP: advantages and disadvantages.
2. Multi-company setup
When you run multiple companies, it can become quite expensive to purchase and maintain complex ERP systems for each of these companies. It is also quite wasteful to get a comprehensive ERP solution for each company, as each would require its specific features and customizations. This is where an ERP with a multi-company setup is the best option.
How can an ERP with a multi-company setup help you grow?
An ERP with a multi-company setup allows for cost-effective scaling across the companies. Here are some advantages to using a multi-company setup with your ERP solution:
- Allows for easy implementation of ERP across your companies and easy setup for any new company.
- Provides efficient data flow control and access to data.
- Better adaptability across multiple companies regarding employee training and transfers from one company to another.
- Easy recruitment and onboarding.
- A common database helps prevent data silos and allows for efficient decision-making for the overall enterprise.
- Allows you to implement integrated centralized support systems.
Read on: How does a multi-company set up benefit you?
Who needs a multi-company setup?
Companies organized in a relationship, be it sister companies or a parent-child subsidiary relationship, can all use a multi-company ERP setup. Any organization that combines the operations of one or two companies would find a multi-company ERP setup extremely useful and cost-effective over traditional ERP solutions.
Find out how Vault’s organization set up can help.
3. Room for customization
Most popular ERP solutions available on the market are quite rigid regarding customizations. These ERP solutions are often shipped as a complete package, and any changes or customization requests would require a large amount of development time before they can reach the user.
But in reality, customization is quite important to make the best use of any ERP implementation. Each company has its own work culture and workflows that must be reflected in its ERP implementations. This is especially true for growing companies that have their own unique quirks as they evolve.
What does ERP customization look like?
Customization allows you to access features that might not be available with an off-the-shelf ERP solution and provides you with the competitive edge you need to stay productive and optimal.
Customization allows for flexible workflows and satisfies your exact needs. It helps reduce the cost and time it takes to adapt to an inflexible ERP solution where you may have to adjust your workflows to fit the ERP features.
It also means that you have a better understanding of the tool and have enhanced ownership of the features you use.
Vault-ERP provides you with unique features
Are you looking for a winning all-in-one ERP business tool with all these amazing unique features? Let us guide you to the best choice in the market. Vault-ERP is a cloud-based ERP tool that helps you organize your business the best way it works for you.
Vault-ERP helps you digitize your business processes and lets you pick and choose only the modules you need. It comes ready with a multi-company setup and provides excellent tech support. Our experts can thoroughly analyze your particular requirements and provide customized solutions to help your company grow to greater heights.
