If you have a business, you’re inevitably thinking about cutting costs and streamlining tedious business operations. If you’re running an enterprise, you often have no choice but to implement software to automate operational tasks. Otherwise, you would risk being unable to withstand the competition.
Even though enterprise software development looks costly at first glance, it can help your company reduce all kinds of expenses in the long run. After all, the only purpose of this software is to help your business increase profit.
Enterprise software is developed to help companies accomplish their corporate goals, be it improving supply chain operations or managing resources. There are a variety of processes that businesses need to automate.
Examples of Enterprise Software
Enterprise Resource Planning (ERP) helps run all the processes within the company: manufacturing, procurement, finance, human resources, supply chain, and others. It’s a comprehensive solution that automates all parts of the business. The key players in the ERP software market are the industry giants SAP and Oracle.
Customer Relationship Management (CRM) helps improve business relationships by managing customer interactions and providing data for analytics. CRM has the most significant growth rate among enterprise solutions, with a projected market volume of $79.40 bn in 2023, according to Statista.
Supply Chain Management (SCM) helps to plan and manage supply chain operations, including logistics, inventory optimization, and vendor management.
Business Intelligence (BI) helps companies make more reliable business decisions based on data. BI software analyzes enormous amounts of data generated by the enterprise daily. The global BI adoption rate is 26%, and it’s growing every year.
Accounting software helps to automate bookkeeping and accounting tasks. While organizations of all sizes use it, enterprises often implement additional functions like automated invoice processing, financial forecasts, etc.
Consumer Software vs Enterprise Software
Unlike standard consumer software, enterprise software needs to be tailor-made or, at the very least, customizable enough to meet each business’s needs. Even though each company has a unique set of requirements, let’s look at some standard features that enterprise-wide solutions often share.
Most business owners gradually invest in digital transformation and acquire different software at different times. The critical point to remember here is that these applications should be able to interact with each other smoothly via APIs. Applications might not always be easy to integrate, especially if they all were developed using different tech stacks. Make sure to choose a reliable IT vendor for your business automation projects to avoid problems with integration.
Ability to Scale
Enterprises often need to scale or redirect resources. The architecture of an enterprise application should allow businesses to scale up or down when necessary ensuring that the right resources and functions are available at the right place.
Microservices architecture is one of the best approaches to developing scalable software. In a nutshell, microservices are small components that communicate with each other via APIs. Scaling can be easily enabled by duplicating components or adding or removing these APIs.
Going with a simple design for enterprise applications is one of the ways to cut development costs. As a rule, business owners don’t need fancy UI or UX for their employees; they need the work done correctly and on time.
It needs to be noted, however, that a simple design doesn’t equal a slow or difficult-to-navigate interface. If the enterprise application is developed from scratch, make sure the software is fast and easy to use.
Reports and Analytics
Data analytics is one of the essential benefits enterprise software has to offer. Automated reports and dashboards are an excellent way for managers to keep track of resources and expenses as well as monitor employees’ productivity. Data analytics allows stakeholders to see the bigger picture and make more informed business decisions. Live dashboards help companies make changes quickly, avoiding serious operational mistakes and losses.
Cost and ROI
Even though the costs for software development seem incredibly high, it might be exactly what your business needs to thrive. ROI for most enterprise solutions is achieved within one to several years of using the software.
According to Nucleus ROI case studies on enterprise solutions, the average return on implementing a CRM is $8.71 for every dollar spent; for ERP, it is $7.23 for every dollar spent. Calculating ROI is the first step to take when considering digital transformation.
Training and Support
Employees will require training and guidance while adapting to a new solution. And even after initial training, employees would require IT support with upcoming technical issues. Software development companies usually provide support and maintenance services for applications they develop. Alternatively, the IT department of the enterprise can provide support. IT help desk is essential for getting a satisfactory adoption level and, therefore, the expected ROI from implementing the software.
Enterprise software helps businesses automate business processes and drive high revenue. Unlike attractive consumer software whose purpose is to attract customers and stand out among competitors, custom enterprise solutions are developed in a way that allows one particular company to analyze data, scale processes and form its business strategy. If you’re considering implementing enterprise software at your company, thorough analysis and ROI calculation would be the first steps to take.Read more investing news on PressReach.com.Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed