Wave has embraced the broader capabilities of the ERP marketplace by partnering with Oracle NetSuite to deliver a range of tools right across your organisation. Your FMS is primarily concerned with tracking the financial impact of activity within your business whereas ERP looks at all the processes critical to the operational success of your organisation, including your FMS. Gartner defines ERP as
“Enterprise resource planning (ERP) is defined as the ability to deliver an integrated suite of business applications. ERP tools share a common process and data model, covering broad and deep operational end-to-end processes, such as those found in finance, HR, distribution, manufacturing, service and the supply chain.”gartner.com
ERP, is the automation of the enterprise, as it really wraps up into typically all the software required by a business from one package provider addressing all the essential operational functions, including inventory and order management, human resources, accounting, customer relationship (sales force and marketing automation), professional services and business intelligence etc.
Your ERP is no longer the preserve of the very largest enterprises. When the term was first coined in the early 1990s to rationalise the developments initially focussed around inventory and material requirements in manufacturing which evolved to incorporate all the front and back office functions in perfect alignment. This meant only the largest organisations had the challenges to address as well as the funds to afford the considerable cost.
Now that fast growing organisations experiencing high growth can reach the much more affordable entry level options offered by the modern incarnations of ERP, delivered on scalable cloud platforms, more and more organisations can justify a pragmatic investment in ERP, safe in the knowledge the solution will support them for many years into the future.
If you’re unsure what an ERP system seeks to address then this short video from our friends at Oracle NetSuite will give you an introduction. Check it out now.
Choosing ERP when we know you need it
Wave will help you define your requirements so that you can navigate the marketplace helping your employees to work more efficiently, with the automation of core processes (lead-to-cash, order-to-fulfilment, and procure-to-pay), the assurance of compliance with regulatory standards and enhanced customer service provided by one source for billing and customer relationship tracking.
Our traditional strengths in FMS, have inspired us to decide that the time is right to offer our existing and prospective customers the opportunity to work with us to provide this broader range of capabilities, beyond finance but including the key features of any FMS, by partnering with the world’s leading, scalable ERP offering, Oracle NetSuite.
So, shoot over to our ERP partner product page to take a look at NetSuite for an integrated FMS/ERP.