What Are The Different Types Of ERPs?

What Are The Different Types Of ERPs? 

Answer:

Enterprise Resource Planning (ERP) systems are software solutions that integrate and streamline business processes and information across an organization. 

ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities.

There are various types of ERPs depending on specific industries, business sizes, and functionalities. 

The Different Types Of ERPs are:

1. Vertical ERP:

   - Vertical ERPs are also known as industry-specific or niche ERP.

   - Vertical ERPs are tailored for a specific industry, such as manufacturing, healthcare, retail, or finance.

   - Offers features and modules relevant to the unique needs of that industry.

2. Horizontal ERP:

   - Horizontal ERP are also known as General-purpose ERP that is suitable for a wide range of industries.

   - Provides core functionalities like finance, human resources, and supply chain management.

   - Often customizable to meet the specific requirements of different businesses.

3. Cloud-based ERP:

   - Hosted on the cloud rather than on-premises and usually subscription based.
        However, usually cloud based ERPs are comparatively cheaper than on-premise ERPs.

   - Allows for remote access, scalability, and reduced IT infrastructure costs.

   - Well-suited for businesses with distributed teams or those looking for a more flexible deployment option. 

4. On-Premises ERP:

   - On-Premises ERP is the classic type of ERP where the ERP system is installed and maintained on the company's own servers.

   - Provides greater control over data and infrastructure but may require more significant upfront costs.

5. Open Source ERP:

   - ERP software whose source code is freely available for modification and redistribution.

   - Allows businesses to customize the software based on their specific needs.

   - Examples include Odoo and ERPNext.

6. Two-Tier ERP:

   - Involves the use of two ERP systems within an organization.

   - Commonly used when a parent company with a large-scale ERP implementation acquires a smaller business with its own ERP system.

7. Mobile ERP:

   - Designed to be accessed and used on mobile devices.

   - Enables users to access ERP functionalities on smartphones and tablets, promoting mobility and flexibility.

10. Hybrid ERP:

    - Hybrid ERP are a mix of on-premise and cloud based ERPs, where some core features are installed on-premise and other features available on the cloud platform. It involves selecting the best individual software applications for each specific business function.

    - These applications are integrated to work together seamlessly, offering the best functionality in each area.