The rapidly changing global marketplace demands more from businesses to the point that being able to respond to the transformations has become a strategic imperative to remain competitive.

One tool that has helped companies to streamline their processes to maximize productivity and keep up with constant disruption is enterprise resource planning or ERP.

According to one report, the ERP market is expected to reach beyond US$49.50 billion in value by 2024, while another report claims that increasingly popular cloud-based ERPs’ value is estimated to grow from US$18.52 billion in 2016 to US$19.84 billion by 2021 – a CAGR of ten percent. Moreover, the APAC region is expected to have the highest growth rate within the forecast period.

In the last few years, perhaps fueled by an increased push for digital transformation, ERP has emerged as a significant tool for enterprises to traverse the complex organizational structure of a modern company. The software is often used as a link to integrate multiple business functions and units to facilitate frictionless business processes. Some of the ways ERP software improves business performance include;

• Increased internal efficiency – ERP systems enable companies to cut the time taken to complete business processes and An ERP removes repetitive and dull work from the human workforce, and also minimizes human errors. Coordination of all the primary resources within an organization, in real-time, creates efficiencies which utilize all available resources to their maximum extent.
• Enhanced decision-making processes – At its core, an ERP system functions as a single source of truth, enabling all functions of a company such as manufacturing, supply chain, operations and human resources, to operate on the same page, so to speak. The shared data and increased collaboration also empower different departments to analyse and draw conclusions to make more informed decisions.
• Improved security – When business processes are integrated from end-to-end across all its business units, data is standardized in a central data database. While having one central data storage may seem like a big target for potential bad actors, it would be much easier to manage and more importantly secure, as opposed to data that is stored at different places within an organization (silo-ing). A wholly integrated system also ensures that security policies are administered uniformly for the whole company.

While initially designed to optimize manufacturing operators, ERP systems are now used in practically all sectors; service industry, education, healthcare, financial services and even government agencies. Also, every industry has its own specific needs and it’s imperative that an appropriate type of solution is deployed to get the best return on investment.

Modern day ERP systems come with diverse functions and features, and companies have options to deploy on-premise or on the cloud. With a plethora of choices available, picking the right software to fit the need of specific business could be a daunting task.

However, one thing for sure is that ‘out-of-the-box’ solution should never be the answer. For the most optimized results and for organizations to remain agile, they need a scalable, modular and yet robust system. They need a tailored ERP solution.

There are numerous advantages to deploying customized ERP solutions, some of which include:

• Lower cost of deployment – Standard ERP solutions may come with functionalities that a company may not need nor will ever use but still end up paying full price for. By customizing your solutions, features could be delivered in a modular fashion.
• No massive changes in the internal workflow – One of the biggest challenges in implementing new technology to an existing operation is to integrate it into the current workflows. Deploying a customized solution allows companies to work with the software vendor to build a platform specific to their operations and best practice.
• Enhanced system performance and scalability – As customized solutions leave out bulky unneeded modules or units, the system is generally lean and functions better. Beyond that, it can be scaled up and integrated with additional modules as the business grows.

Choosing an ideal ERP system is among the most challenging decisions facing IT leaders today. Besides, finding the right fit, there is a wide range of features, capabilities and options to consider before investing.

To help you get a sense of the kinds of decisions that go into choosing an ERP system, Tech Wire Asia picked four ERP solution providers that businesses should consider engaging with:

NAVIWORLD

Since its inception in 1999, NaviWorld has emerged as a leading provider of integrated ERP and e-business solutions, powered by Microsoft Business Solutions in the APAC region. Located in Thailand, the company is a premier player in its segment and a much-respected Microsoft Gold Certified Partner. Operating out of bases in Singapore, Myanmar, Thailand and Vietnam, it has quickly set itself ahead of its competitors due to competent, reliable and innovative services.

With decades of experience in implementing Microsoft Dynamics solutions as well as industry-specific add-ons, NaviWorld not only aims to bring the access of performance-boosting software to Asian offices but to completely tailor the solutions to ensure perfect optimization. As it understands the importance of delivering a complete scope of work within agreed time and budget, the company offers turn-key solutions to be deployed by its highly-skilled consultants.

The services delivered start with assisting clients in selecting the right tools, diagnostics, design, project management, implementation, and user and internal advocate training (training the trainers). Beyond that, NaviWorld’s localization packages further enhance best-of-breed applications that are incredibly flexible, quick to implement and extremely scalable, emanating from Microsoft Dynamics software.

If you are looking for a comprehensive, tailored solution at an extremely attractive price point to get the maximum return on your ERP investment, you could do little wrong in requesting a demo from NaviWorld. More information on the company can be found here.

ABEO INTERNATIONAL

An industry player for more than 20 years, Abeo is one of Asia’s leading providers and a renowned expert in ERP solutions. The company is a value-added reseller of ERP heavyweights, SAP, that powers some of the most prominent organizations in the world.

Abeo’s long history in the space is a decorated one; it has won many awards for its support, services and implementations, thus cementing its position as a top-flight companies. It has a presence in Singapore, Vietnam, Malaysia, and India.

Capable of helping businesses of all sizes with ERP needs across the APAC region, Abeo is one to call whether it is a simple helpdesk provision to support users in your area, or a full, end-to-end business transformation. This is because Abeo has all the credentials, and all the critical skills to partner any businesses in all industries.

One of the cornerstones of Abeo provision is the generation and examination of business intelligence whereby the company draws out keys results that organizations can learn and improve from. Further, it helps companies to cut costs and boost efficiencies, while fostering brand loyalty, whether for a B2C or a B2B enterprise.

AFON

AFON is another Singapore based company that vows to bring the performance-boosting the power of tier one ERP solutions to small and medium enterprises. More importantly, the company promises to work with your business to find the right solution to fit your business specifically, regardless of size.

There are many providers out there that boast speciality in just one ERP software, but not AFON. When you engage the company, you get four top tier ERP solutions to choose from – SAP, Sage 300, Microsoft Dynamics NAV and NetSuite – to find the optimal solution for your company and industry.

What makes AFON stand out from the rest of the pack is that its ERP consultants are not just IT professionals, but also qualified accountants; the company believes that proper ERP deployment hinges on having a balance of both finance and technical skills to address real-world business needs.

None of AFON’s support teams are outsourced either, and clients can be assured that their needs will be attended to right away. If that’s not enough, AFON also has a track record of achieving ‘top partner’ status within a few short years of taking up a new ERP software reseller status.

WAVELET SOLUTIONS

Meanwhile, Malaysia based outfit, Wavelet Solutions in recent times has also emerged as a viable option for SMEs in the region seeking ERP solutions that are agile and cost-effective. The company’s web-based Enterprise Management Planning (EMP) software is a modular platform that can be tailored and coordinated based on individual needs.

Wavelet EMP comes in a wide range of modules to cater to many industries, including; distribution management, product management, customer management, accounting and finance management. According to the company, the software has been widely deployed in the retail sector, specifically.

Operating since 2013, Wavelet has already established a strong client base in Malaysia, Hong Kong, Singapore, Thailand, and Brunei including leading regional brands such as Digi, Parkson and Bata.

In 2011, the company partnered with the Chinese Academy of Sciences (SIAT) to form a multi-agency research framework to integrate artificial intelligence into ERP solutions. The partnership is consistent with the vision of the company, which is to revolutionize the productivity and efficiency of the business world by leveraging the benefit of cloud-native ERP and AI technology.

If your business seeks greater collaborations and more streamlined execution of tasks, Wavelet’s EMP could be the solution for you.

*Some of the companies featured in this article are commercial partners of Tech Wire Asia