What is ERP software?
Enterprise resource planning (ERP) is integrated software used by businesses to combine, organize and maintain the data necessary for operations. ERP merges each of the company’s key operations, including the manufacturing, distribution, financial, human resources and customer relations departments, into one software system. If properly implemented, ERP has been proven to greatly increase efficiency, performance and profitability in a number of industries. However, successful ERP projects are challenging to achieve and often necessitate the hiring of a third party to manage the software selection, implementation, integration and training. If ERP is implemented incorrectly, the process can introduce significant risks to an organization, including cost overruns, business process breakdown and employee resistance.
Who are the leading ERP software providers?
While there are dozens of technology companies selling ERP software, Oracle Applications, SAP, The Sage Group, Microsoft Dynamics and SSA Global Technologies are among the most popular providers. In addition, there are a number of smaller, niche software vendors that focus on specific industries or business functions.
What kind of companies use ERP software?
ERP software is beneficial to large- and mid-sized companies operating in a wide range of industries, including manufacturing, pharmaceuticals, telecommunications, healthcare, energy and utilities and many others. Historically, it has been mostly Fortune 1000 companies that have had the resources to implement ERP solutions. In recent years, however, small- to medium-sized organizations have fueled a majority of growth in the ERP software industry.
What role does Panorama Consulting Solutions play in this industry?
Panorama Consulting Solutions is an independent consulting firm that provides third-party expertise and support for companies who want to successfully select and implement ERP software. Panorama offers “nuts to bolts” services ranging from software evaluation and selection to technical implementation to organizational change management.
How necessary is a company like Panorama in this industry?
ERP software installation is an extremely complex and intimidating process for many business executives. The implementation of ERP can, when done right, revitalize a business by streamlining and synchronizing its separate departments into one unified, precise and easily handled software system. On the flip side, a business can become paralyzed by a poorly selected or managed ERP implementation that is unable to support the company’s requirements and processes.
Third party contractors, like Panorama, are businesses that provide ERP service and support on a level that neither software companies nor in-house IT staff can achieve. As an independent company that is not affiliated with specific software vendors, Panorama lends its unparalleled expertise to companies who want to install ERP software as well as to companies that have already installed it and are not seeing the results they need to see.
What are some of the risks associated with ERP software?
While ERP has the potential to provide numerous business benefits, it can also be a risky proposition. If not managed properly, ERP projects can cost more and take longer than expected to implement. In addition, if the ERP system is not a good fit with an organization’s needs, it can create business process challenges and obstacles.
How can I find out more?
Panorama has developed a comprehensive website, featuring white papers, podcasts and blogs, about ERP strategy and management. If you have further questions, please contact us.