ERP System Examples 2023 | Examples Of ERP Software

Enterprise resource planning (ERP) consists of tools intended to facilitate the management of all information that impacts a company’s business decisions. Depending on your company’s niche, you’ll benefit from different functionality available in ERP software. There are several ERP system examples that can streamline operations for manufacturing, accounting, marketing and more.

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This article can help you learn more about what functionality is available in different solutions and evaluate which might be best for your corporation.

Table of Contents

What Is an ERP System?

Before we get into our list of top ERP system examples, we want to address the basics of ERP. So, what exactly is an ERP system?

ERP software is a large suite of integrated applications that manage everyday business processes and automate back-office functions. It’s designed to centralize and optimize operations with its connectivity while reducing manual labor.

For example, in the supply chain industry, an ERP system could automatically run a financial analysis and predict future stock needs to keep inventory at a healthy level. This process control ensures that the manufacturing department is performing at optimal capacity and in-demand products are in stock. At the same time, the CRM module could record customer data such as order history and billing information.

This visibility can improve sales strategy. CRM systems are their own standalone software, but robust ERP systems come with a CRM built in, eliminating the need for integrations with one streamlined product. In this scenario, a couple of ERP capabilities work together to ensure a company will have the products that their customers want, and ultimately, improve customer satisfaction.

We just demonstrated the abilities of two features, but ERP systems come with several. Below is a comprehensive list, and then next we’ll explain what a couple of these features can do.

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An ERP system can automate, simplify and evaluate most accounting processes. What can take employees days to analyze and compute can be achieved within minutes using an ERP solution.

This module or standalone accounting software can facilitate payroll, budgeting, billing and banking operations. It can conduct cost analyses to better manage cash flow and forecast future growth. Using an ERP product to perform these functions can reduce human error and help cut costs.

An ERP solution can not only help with hiring and training new employees but also tracking their individual productivity. Each employee can log in to the system and enter time worked and manage benefits and vacation time. ERP systems can automate payroll processes, removing the need for an extensive payroll department.

HR tools can send out employee surveys and news, provide an online community for employee collaboration and contain the policies and procedures for a company.

Inventory and SCM

What begins with the sales team needs to flow seamlessly to the inventory management team. Inventory management solutions helps companies keep track of stock, set appropriate price points and locate items within the warehouse.

SCM tools eliminates human error that can result in costly mistakes in the distribution system.

Some functionality included in ERP software can benefit the manufacturing department by providing production control, process synchronization and quality evaluation.

An ERP system or standalone manufacturing systems can also analyze finances and automatically adjust processes based on cost analysis and forecasting. The software can automate distribution scheduling that often takes up precious employee time.

Check out our ERP parts and functionalities articles for more features.

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Types of Companies That Can Benefit

Although “enterprise” is the first word in ERP, it’s not exclusively for large companies. It serves all sizes and can grow with your company as you add more workers, machinery, departments and locations.

Startup

Startups consist of freelancers or employees that range from five to 10. They usually have small facilities like a basement or home office, and they leverage Excel or similar tools to manage business affairs and bookkeeping.

Small

These businesses are typically the mom-and-pop corner stores with a set number of employees that specialize in a certain type or amount of products (i.e., pharmacies, fishing stores, convenience stores, etc.). There are small business accounting systems to superintend finances and other affairs.

Mid-Sized

Think of a mid-sized company as an organization with roughly 50 to 100 employees. ERPs centralize workers, departments, tools and more while growing if you’re looking to expand.

Small and Medium Enterprise (SME)

SMEs play a huge role in the economy and are not a one-size-fits-all sector. Their sizes and industries actually classify them. There are accounting and other solutions that cater to this business type.

Enterprise

Enterprises range from 1,000 to 10,000 or more employees with various locations and partners either locally, nationally or globally. Think Amazon, Apple, Microsoft and Walmart.

Primary Benefits

Several advantages come with owning this software.

• Saves Costs: Instead of inputting information for every department in your company, you only have to input it once, saving plenty of time and money.
• Better Planning: Gain in-depth real-time insights on projects and assignments to allocate the ideal amount of employees, tools and other resources with precision.
• Improves Productivity: Streamline and automate menial tasks like bank reconciliations, payroll allocations, report creations, fund balancing and more, so you can reassess your priorities and surge your company efficiency.
• Boosts Department Collaborations: Link CRM, HR, accounting, marketing automation, manufacturing and other departments together in one location.
• Enhances Customer Service: Govern customer satisfaction rates and other client-based KPIs so you can know what’s working, what needs improvement and what isn’t successful.

ERP System Examples

Here are examples of ERP systems that can help you automate your company processes.

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Our first example of an ERP system is probably one you’ve heard of before. Founded in 2012, Oracle ERP Cloud is a modern, dynamic software that’s used by a wide range of customers. The suite of cloud applications leverages artificial intelligence (AI) and machine learning to automate everyday tasks.

This flexible tool can be configured to meet a range of needs and can be used by any businesses, regardless of their size, industry, or geography. Their core verticals include financial services, healthcare, higher education, manufacturing, and retail.

Top Benefits

Oracle ERP Cloud offers various strengths that set it apart from its ERP competitors.

Dashboard with Accounting Infolets

Manage integrated info tiles into work areas to supervise operations, track transaction progress and detect issues and exceptions that may need addressing.

Language Support

Streamline internationalization support by translating numbers, dates, names and addresses into 26 languages.

Timely Collections

The strategy management apparatus guarantees on-time collections from overdue clients automatically. It works with days sales outstanding (DSO), broken promise count and other collections metrics and formulas for you to better perceive the progress of outstanding receivables, productivity and prospective problem areas.

Financial Data

Gain real-time authorization to accounting information.

Customer Ranking

Rank customers with tailored scoring to boost client cash flow.

Primary Features

Oracle Financials Cloud

Merge data from various sources, including BI, social, transactions and more with role-based dashboards. The dashboard infolets showcase KPI summaries in accordance with transaction and process statuses while analyzing cash positions and cash requirement predictions.

Oracle Accounting Hub Cloud

Systemize accounting with third-party transactional systems to implement bookkeeping policies and meet diverse reporting requirements in an automated and controlled technique. You may utilize support references to review results and assess subledgers. This accessory can also keep critical information in a centralized location for administrative choices, audits and source system analysis to a central cloud service for worldwide access.

Oracle Procurement Cloud

Implement this module to maintain expenditures by choosing suppliers, enforcing policies and managing supplier risks. This component provides you with cloud procurement for lifecycle management, delivery tracking, contract deviations management, a searchable database, amendment tracking and renewal notifications. You can also access:

• Guided-Negotiation Creation
• Online Supplier Negotiations
• Two-Stage Request for Quotes (RFQ)
• Team Scoring
• Negotiation Landing Page with Critical Operations and KPIs
• Alternate Bidding

Oracle Project Portfolio Management Cloud

Work with a merged project management apparatus that provides automated control over financials and execution activities. You also manage capital asset projects, planning, budgeting and estimations and obtain resource availability and their performance metrics for project implementation.

Oracle Risk Management Cloud

Manage embedded AI methods for automatic ERP role design analysis, segregation of duties (SOD) analysis, constant security configuration and payment monitoring, pre-set controls and control evaluation streamlining. You may also attest auditor compliance and collaboration and gain visibility with vivid role-based dashboards.

Oracle Supply Chain Management (SCM) Cloud

Manage supply chains with scale, security, innovation and precision with supply chain planning, logistics, inventory management, order management, procurement, product lifecycle management, manufacturing, blockchain and the internet of things (IoT), amongst others.

Limitations

Although this solution offers various modules and perks, like most solutions, it contains some drawbacks. These limitations include:

• Not having a mobile app.
• Having restricted Oracle Transaction Business Intelligence (OTBI) tools.