If there is one takeaway from the 2016 business year it’s that a volatile consumer marketplace, increasingly fierce competition and growing customer demands in the watch and luxury goods industry is driving brands to find every advantage to survive and thrive. The luxury and fashion segments especially have witnessed the necessity of a flexible and agile business model to compete in this fast-changing market.
One way that brands are increasing efficiency, lower operating costs and streamlining supply chains is by adopting flexible cloud ERP systems that give them more robust features and benefits over native systems. Naturally, the market for software manufacturing has responded and there are many solutions available. The question is, with so many off the shelf choices, is there an advantage to using an industry specific ERP over a generic one?
Both generic and industry-specific ERP systems provide essential business functions. Off the shelf systems can look like an appealing option for brands that wish to upgrade from a native system quickly to add functionalities that an existing system doesn’t provide. The key for brands looking for an upgrade, is to have a clear understanding of the company’s operational processes. Identifying the pain points in a system will help determine which ERP functions are necessary.
An off the shelf ERP isn’t turnkey. For virtually all companies, a generic ERP system will require specialized customization to meet the needs of an individual organization. Because the product attempts to remain industry agnostic, most generic ERP systems skew toward the most common functionalities such as order processing and sales at the expense of other considerations, such as inventory and manufacturing.
Customization to answer these shortcomings can add important efficiencies but this is a time consuming and expensive process that usually requires other software add-ons and the help of outside experts. Even so, a generic system will often still be saddled with non-utilized features that are included for industries different than that of the enterprise. These unutilized components can complicate implementation and create dashboards and interfaces that are needlessly complex.
Industry Specific ERP
In contrast, industry-specific systems are developed based on the unique needs of a specific business vertical. Because of this, industry specific systems can fun leaner and more efficient than a one-size-fits-all option. These systems add key functionalities over generic systems that serve specific company functions and options to fit a brand’s individual industry needs. The requirements of different verticals vary greatly and having industry specific features in an organization’s ERP delivers profitable advantages over their competition in speed, efficiency and relevancy.
Further, a cloud ERP solution that has been designed for a specific industry will be immediately applicable to an organizations manufacturing process with minimal customization. This results in faster (and cheaper) implementation and little or no on-going maintenance.
Industry Know How
Perhaps the greatest advantage of industryspecific cloud ERP is that the vendor team will have a deep understanding of an organization’s needs and can offer pointed advice to satisfy unique industry requirements.
For brands to survive in today’s tricky marketplace, it is vital to be flexible and adept with tech solutions that can give an organization the edge over competitors. Investing in a cloud ERP forms the basis for an efficient and agile company ecosystem. Smart companies understand that every business is unique and that one-size-fits all solutions mean that no one gets a perfect fit. Industry Specific ERPs are proving that as the marketplace niches down, so do business solutions.
Industry Specific Cloud ERPs offer an organization powerful functionality, organizational customization and better implementation as well as vendors that possess the industry experience to have a deep understanding of their clients’ needs.
An important place to begin with an ERP upgrade begins with a consultation. A quick email can get the process started. If your brand luxury, fashion or watch brand is ready for a profitable upgrade to a modern, flexible cloud ERP, Contact Montrichard today.
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