Open-Source ERP Software: 5 Reasons to Invest in the best ERP Software FrameworksOpen-Source ERP Software: 5 Reasons to Invest in the best ERP Software Frameworks https://i0.wp.com/www.noitechnologies.com/wp-content/uploads/Orange-and-White-Geometric-Creative-Writing-Education-Presentation-1.png?fit=960%2C540&ssl=1 960 540 Visvendra Singh https://secure.gravatar.com/avatar/0e675e9b7fca446afd5ff8a5c60343b9?s=96&r=g
There are a plethora of decisive factors that dictate the commencement and managing of a business venture. Handling each aspect judiciously is of utmost importance to ensure the smooth running of a commercial enterprise. Resources are, inarguably, the most vital facets to take into consideration. If a business is reckless with handling the resources, the venture is destined to be doomed with unfathomable unproductivity and losses.
Enterprises comprise multiple departments, taking care of specific operations, like cogs in a wheel. Whether it is a small-scale or firmly established company, a bulk load of miscellaneous data is generated regularly from each department. For instance, HR generates a unique set of data concerning employee records, recruitment, etc., vastly different from the finance or marketing department.
Regardless of the data diversity, assembling each comprehensively is the only viable course of action to undertake. When the task is executed by legacy manual processes, errors are inevitable no matter how carefully it is handled. Besides that, manual documentation and record-keeping of various departments within an organization are time-consuming and resource-intensive and can be heavily siloed and fragmented. An advanced level of precision, proficiency and integrated architecture can only be offered by ERP software.
A brief on Open-Source ERP Software Systems
An Enterprise Resource Planning (ERP) system is the software used by businesses to manage and execute regular activities across departments, such as project management, procurement, accounting, HR, supply chain management, compliance and risk management, etc. It integrates all the essential business processes in a unified infrastructure, allowing the free flow of data and its efficient management.
The software collects and collates the transactional and other relevant data from multiple departments and sources to prevent inaccuracy and duplication, infusing the system with integrity. The ERP system is also tasked with filtering and analyzing the raw data fed into the system. Based on the analyses, strategies are built to facilitate the best utilization of the resources in the most timely and cost-effective manner.
ERP systems have become an inevitable aspect of business management, offering an edge required to survive and thrive in today’s intensely competitive commercial market.
ERP systems: Open Source or Proprietary
There are two types of software available in the market:
- Open-source ERP framework
- Proprietary ERP software
An open-source framework has a public source code openly available online for the programmers to access, leverage, and modify, as per their requirements. On the other hand, proprietary software is where the source code is owned by a company that has developed it, with the sole power of modifications. One needs to get a license from the source company to use the proprietary software.
Here’s elaborating on why you should waste no time in integrating your existing operational architecture with an open-source ERP system.
Open-Source ERP Software: Cost-Effective and Reliable
Setting up an ERP System is a one-time investment for a business that generates long-term results in cost-efficiency, along with time and resource management. Since all the essential operations are integrated through a single comprehensive framework, it automates many manual and repeat processes, saving operational finances significantly. The immaculate and accurate processing of data eliminates the scope of pricey errors, inducing cost-effectiveness. An open-source ERP system is so much better because it is available easily, comes with affordable maintenance, and is therefore highly advised. Businesses incorporating an open-source ERP software system into the framework is the latest trend, and rightfully so.
Public availability of source code:
Apart from the monetary distinction, the basic difference that sets apart an open-source ERP Software from a proprietary one is that the former’s source code is publicly available. This provides the software users with access to all the users’ developments and is approved by the developers’ community.
Versatility and adaptability:
The freedom to make changes according to one’s convenience and the versatility to support such changes is invaluable for software. And these benefits are precisely what open-source software is well-known for providing. Considering all the hindrances and inconveniences faced by leveraging proprietary ERP software, this advantage is quite a nifty one.
It is a well-established fact that one of the primary challenges faced while choosing an ERP system is to scrutinize its scalability prudently. Considering the company’s future growth and, consequently, its increasing employee count is important. The scalability of open-source software is commendable in this respect. The upgrades are easy and can be as frequent as the company requires them to be.
A majority of open-source ERP solutions encourage and exhibit high-quality coding. Additionally, the freedom to review and audit the software renders this apprehension null-void.
Letting go of a tool that facilitates maximized productivity, better accountability, and comprehensive management is, to put it bluntly, foolhardy. Empower your business with an open-source ERP software solution, and witness as it improves by leaps and bounds!