The growing and hypercompetitive Indian market are passing through an information age after its transition to open economy. It's the age where businesses and enterprises have to deal with several information relationships to get streamlined, create transparency and improve workflows. To cope with the global advances, industries are getting ERP solutions ingrained into the business environment. Using IT and advanced technology modules, ERP software providers in India like Envertis, are building ERP software or tools for businesses to manage their processes. ERP market is steadily growing in India for the last years and the most obvious reason behind that is attributed to inefficiency and incapability of the business systems to maintain order, run processes faster and manage the processes. There are many other reasons too that forced the implementation of ERP in businesses and this blog post tries throwing light on all of them.
Complexities in businesses
Businesses experience severe complexities in processes as they grow in size which makes their own software systems incapable of managing orders and leads conversions. As the number of employees increases, there’s need for a strong admin and database management system, that will help in maintaining transparency among the departments is essential and ERP serves that.
Lower-cost software solutions are no longer good
Cheap and off-the-shelf software solutions no longer favour the businesses in streamlining their processes. They are just capable enough to cater to the needs of small-sized corporations where the number of processes is restricted. This encourages the market for ERP and its implementation in mediocre and big firms or enterprises.
Vastness of the services sector
India’s service sector predominantly consists of vast industries from transportation, banking to communication, hospitality and media, each having specialised needs and industry practices. All these sectors’ function primarily on computer systems and depends on cloud database and software-based processes which calls for specific ERP implementation.
Lacks ultimate skills in decision-making
Many manufacturers in the Indian market are inept at prompt decision-making due to the lack of timely data or information on current trends. Further, for informed and judicious decision-making businesses and manufacturers need information visibility across all agents in their value chain. This clearly fostered the need for a sound ERP solution in businesses as a decision support tool which can help them in flawless decision-making to attain sustainable competitive advantages.
Inadequate risk-assessment measures
Majority of businesses are weak at assessing the risk factors and the probable uncertainties that can emerge in their processes which can result in great losses. There’s no system in their hand for event alerts with which they can proactively control their crisis situations. This calls for the dire need for ERP systems in businesses that have proper performance monitoring tools, activity tracking, performance indicators and data forecasting tools to help the predict any uncertainties beforehand and cope well with that.
While in the past, most businesses focussed on managing their customer and market environment, they failed to look into the aspect of internal efficiencies. Thus, it is high time businesses now start focussing on the need for ERP implementations into their core and bear its fruits with long-term sustainability and success.
Thanks for sharing.
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