The global ERP solution is similar to a standard ERP system but has some variations. Through “Global ERP reviews”, we hope you can get a deeper understanding of “what is ERP?”, “what is the difference between ERP and global ERP system?”, as well as “how global ERP solutions work”.
First is a brief introduction to ERP, and why it seems like everyone’s talking about it.
Standard ERP system reviews
First, let’s take an insight into the introduction to ERP, it is the fundamental concept that global ERP solutions have relied on and taken for further development.
What is a standard ERP system?
ERP stands for Enterprise Resources Planning. In general, it is a process used by companies to manage and integrate critical parts of their businesses.
Many ERP solutions are essential to organizations and allow them to improve their resource planning. Moreover, it combines all the processes required to effectively and efficiently run the company within a centralized system.
These ERP solutions can integrate multiple functions within an organization such as planning, inventory purchase, sales, marketing, finance, human resources, etc., into one single space.
ERP systems are built around a single data structure. Thus, business processes are interlinked around this structure to foster workflows between business divisions. It also helps ensure the information used throughout the enterprise is transmitted seamlessly. In other words, the global ERP solution is “the vehicle” to integrate people and technology in modern business.
In fact, the ERP system will estimate how much money a unit will need and how to decide on the product’s price. After that, your product is transferred to the factory. Also, ERP solutions allow you to set up your supply chain to put the materials needed to make the product. As a result, the suppliers of materials will then send orders. The scheduling process is also set up for shipping and payment systems by ERP.
Global ERP reviews
What is global ERP solution?
Global ERP solutions assist automate, streamlining, and optimizing multi-national corporations.
In other words, this system is mainly used by businesses operating in multiple countries. With the aim of providing a real-time “big picture” of all aspects of the business.
What are the main differences to distinguish standard ERP and global ERP?
Most of the features of the Global ERP System are working the same as standard ERP systems. However, there still be additional features addressing the higher needs of large-scale businesses operating in multiple territories such as:
- Multiple currencies mode
- Multi-language mode
- Tax justification based on different geographies regulation
When do you need a Global ERP system?
When businesses have developed and reached a certain point, a “single” working system leads to overloaded management. Since there is a lot of discrete information. These are the times that you should consider moving to global ERP solutions.
- Impossible to manage resources in more than one country
If you have multiple branches in different countries, you might familiar with the issues that can arise from running a separate system.
With a global ERP system, functionality like inventory management can be standardized. It provides a transparent view of operations across multiple locations. Thus, fewer teams are required to manage information; and managers are able to make more appropriate decisions.
- Impossible to gather financial and accounting information
The management of our accounting data is done manually and separately in each branch; is a time-consuming, risky, and complicated process. Especially when the reports originate from very different tax and regulatory jurisdictions.
Global ERP system for automatic financial data consolidation; helps to reduce errors that often occur with multiple spreadsheets and manual data transfers.
The Business Value of ERP
With ERP, your business will have considerable advantages in the digital transformation race. Not only in job management, but global ERP solution also makes it easier and more systematic. For that reason, the standard ERP systems, as well as global ERP solutions, help your business to achieve the profit the company is aiming for.
Standard ERP system
- Real-time detailed updates
- Optimized business processes and increased productivity through streamlined organization and optimization methods
- Enhanced customer service by offering relationship tracking and invoicing systems
- Improved work efficiency through general user experience across a wide range of clearly defined business functions and business processes
- Reduced costs and risks in management and operations through unified and integrated systems
Global ERP solutions
Having all the above benefits, plus:
- Created and maintained a wordwide operation with standardized metrics and benchmarks.
- Reduced risks by tracking and monitoring compliance requirements across all branches in different geographies.
- Eliminated redundancies, and minimized the cost of running a global infrastructure.
The difficulties that businesses are struggling with
- Warehouse and inventory management
- Accounting and financial management
- Supply chain management
1. Many software are available for different processes
Many business processes have become outdated and stagnant for a long time. Besides, they have multiple fragmented systems run simultaneously. That could be quite confusing and a waste of time in the long run. Especially, if it could create a more convenient and refreshing workflow for everyone, there’s no reason to be afraid of change. The switch to ERP allows companies to track everything from anywhere, anytime.
2. Redundant data
The more companies grow, the large customer has. That results in a lot of metrics that need to be processed. Redundant or duplicated data can happen to employees of the same company. Therefore, the business will slow down and confuse departments.
3. Lack of knowledge and communication about the company
One of the most significant benefits of an Enterprise Resource Planning system is that it allows information sharing on a large scale. When a larger business doesn’t have a global ERP solution, there is too much information that employees can’t entirely comprehend. Therefore, information flow sealing, making the machine cumbersome, and does not work smoothly. Spending a lot of time transferring work between departments leads to reduced efficiency.
4. Not meeting customer expectations
In business, your most important priority will always be your customers. It’s essential to make sure that you keep your customers in mind with every change. When your business grows, it means that the number of customers increases. The number of transactions such as revenue, expenditure, debt, inventory data, and even shipping information becomes overwhelming. That leads to a slower response to customer demand, facing customer dissatisfaction. Fortunately, that’s a big problem for companies that don’t have sound management systems having to deal with.
5. Trouble for IT
If you are a business leveraging multiple systems for all of your processes, and all of which must be managed by your IT department. There is a very high chance of errors and time-consuming work. In addition, consistent tweaks, numerous unnecessary custom integrations, and upgrades can be a few of the most significant downsides of having multiple systems.
TOP ERP Solution Brands
More businesses nowadays are looking for a solution to standardize their most essential business processes. They want to improve efficiency and return-on-investment (ROI). That is why the global ERP solution is becoming a suitable solution for companies of all sizes. We took considerable time to provide these Top modern ERP Software Companies and their flagship ERP tools.
- Microsoft Dynamics ERP
- SAP Business One
- Oracle ERP
- NetSuite OneWorld
- Acumatica Financial Management software
- IQMS ERP
- Epicor ERP
- Sage Business Cloud X3
You are probably wondering why we mention this section. Nowadays, integration is an important concept related to any ERP system. Some companies may have legacy systems that they want to continue using them. As a result, they want to use a particular structure because it is the best of their needs. It is the job of ERP to interact and connect with these other systems. Therefore, integration becomes a tool that helps us to communicate with that.
One struggle companies have had to integrate their ERP system with their other enterprise systems. They want to meet growing business demands. But ERP implementations commonly span a few years. That starts as a few functional modules often develop into a primary ERP system with several stand-alone applications. Enterprises need to find a new way to implement ERP systems. Besides, allow them to integrate with eCommerce stores like Shopify and provide a united application architecture.
So the question is: How to find out the solutions for this problem?. Our company, Beehexa, provides an Hexasync integrated ERP solution and custom modules in ERP. If you are interested in this topic, we will talk more in-depth about Integrating ERP with Hexasync in another article.
At this point, after viewing “Global ERP reviews”, you must have had a partial overview of the word ERP.
In short, ERP is not just a tool but a universal key. That helps your company could find the best way to manage your business. We highly recommend a global ERP solution, which is Acumatica. This software is kept up-to-date with the latest features, functions. With access to these new technologies, you can quickly improve business with best practices. Your business can automate processes that used to require massive manual intervention. That enables them to make better decisions faster and more efficiently.