It is always a challenge for a business to handle its operations manually with breakthrough changes occurring in the market. The advancements in software development are always a blessing for businesses to function seamlessly and hassle-free. The business is constantly evolving and growing enormously and so is the need for software development within the enterprise. Well, this blog is a disclosure on what is enterprise software and the types of enterprise software that can be a boon for any business to boost sales and maximize profitability.
Enterprises at every level are making a constant move towards developing software that will streamline and augment their business. It startled as a buzzword but now has settled among businesses on how enterprise software can benefit their enterprise in the long term and what are some of the major examples of enterprise software.
To start with we will take a brief run-through of what is enterprise software.
The definition of enterprise software isn’t tricky. Enterprise software is software that is designed to cater to unique business needs unlike addressing individual customer demands.
If this doesn’t sound simple, let’s understand it in depth.
1. What is Enterprise Software?
Every enterprise has unique business needs and to address these enterprise needs through software, companies develop software solutions. This software solution that manages the needs and functions of an enterprise is called an enterprise software solution or an Enterprise software application.
Usually, when we hear the “enterprise” word in a conversation, it doesn’t mean that the reference is just to large-scale enterprises. It is basically referring to the organizations with unique business needs and that can be any size of enterprise from large, mid-size, and small businesses. The only distinguishing factor here is unique software requirements. Businesses should cater to these requirements through a single- multifunctional application.
Now, if this question arises in your mind, what benefits does enterprise software offer and a normal software solution cannot? Then, the answer to this is enterprise software is a one-stop solution to multiple business challenges that optimize business operations and enhance the bottom line of business systems.
2. What are the Examples of Enterprise Software Application?
Enterprise software needs can be unique as per the unique needs of the market and the business. Say, for example, you are a pharma enterprise, your enterprise may need a system that efficiently manages your customer and your relationship with your customer. On the other hand, if you are a software development company then you might need a proper enterprise planner that efficiently manages your resources, payroll, and other necessary employer details. So these are some of the needs that every enterprise may need to survive in the market.
Now we will be discussing the top 5 Enterprise software that is a key differentiator for businesses that can establish transparent communication and boost productivity. Here are the top 5 types of enterprise solutions that are indispensable for almost all types of businesses. Without much ado, let’s explore each one deeply.
2.1 Enterprise Resource Planning (ERP)
- Introduction to ERP Software
ERP or Enterprise Resource Planning is a process of systematically gathering all information in a system and digitizing it into different modules. It will create a simpler network between multiple departments and this way, everyone in the company will operate off of a centralized database and get real-time updates.
- Capability of ERP Software
ERP (enterprise resource planning) framework is a bundle of all kinds of business software into a single box. This software, also known as modules, may be obtained individually or as part of an ERP framework. These programs are often designed around the customer relationship module which can include supply chain, and procurement. And warehouse management, and HR/labor management, depending on the industry vertical.
Does not restrict itself to just one industry, or company size of the domain, every enterprise with the willingness to manage multiple processes efficiently.
2.2 Customer Relationships Management(CRM)
- Introduction to CRM Software
CRM is a synonym for satisfactory customer experience. Yes, Customer relationship management software is software that sophisticatedly manages customer data with every possible detail that would upsell sales, cross-sell and promote enterprise at all levels.CRM is like a brain for business and helps businesses meticulously manage all data and deliver exceptional business results.
- Capability of CRM Software
CRM programs are more focused on marketing, including lead generation, nurturing, sales pipeline growth and implementation, and customer support. You must enter all the information about your contacts and records meticulously. This includes personal details, shopping history, refunds and grievances, and customer service.
All types of businesses specifically, retail, eCommerce, manufacturing industries, or any sort of business that deals with customers on an everyday basis can efficiently use this type of enterprise software application. Any customized CRM is capable of managing social media activities, sales lead management, and showing exact project progress status. And many more important aspects that make enterprise software sustainable.
The global crm software market is expected to grow from $106.23 billion in 2021 to $123.51 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $216.63 billion in 2026 at a CAGR of 15.1%.
2.3 Business Intelligence (BI)
- Introduction to BI Software
It’s time to imbibe intelligence in your monotonous business. With business intelligence tools within your enterprise, your organization can take benefit of enterprise software services that gather data and convert it into information for actionable business decisions. Using BI is a strategic way of gaining a competitive edge by using the right set of data, with logical reasons and analytical findings.
- Capability of BI Software
The word “business intelligence” is often used to describe a collection of resources that provide fast, easy-to-understand access to data-driven insights regarding an organization’s current state. Business intelligence tools are one such enterprise software solutions that not just offers an analysis of data but also creates a dashboard showing a graphical representation of summaries through charts, graphs, bars, and other pictorial representations. These reports can also be downloaded and business leaders can analyze them in real-time and take necessary steps at right time.
2.4 Human Resource Management (HRM)
- Introduction to HRM Software
Human Resource Management is a tedious and time-consuming task where businesses have to invest time in mundane tasks to get desired results. With the advent of automation, HRM tools were initialized. To bring hundreds of right resources on board, it is important for businesses to automate other tasks and make employees free to sieve out the best talent Any enterprise wants to hire employees who are professional and knowledgeable in order to make their company the best it can be. Human resource is the foundation of all these challenges.
- Capability of HRM Software
Another high-performing and competent enterprise software is the Human resource management system. HRM tools manage everything from employee recruitment, selection, induction, orientation, and preparation. From advancement, success appraisal, and pay. And from benefits, empowering workers, establishing properties with employees. Their labor unions, and ensuring employee protection, security, and fitness measures are all part of human resource management.
2.5 Supply Chain Management System (SCM)
- Introduction to SCM Software
Supply chain software in simple terms is handling the flow of supply chain networks that includes the flow of goods, and services that include raw materials as well as packed items. Supply chain management is a systematic process of managing the workflow from scratch of products to final delivery. SCMs allow businesses to monitor marketing and sales KPIs, streamline processes, and boost profits. For businesses like retail and eCommerce, Supply chain management and logistics are boons and can help them craft strategies that benefit an enterprise in the long run.
- Capability of SCM Software
From the sourcing of raw materials, equipment, and supplies to the delivery of finished goods to end-users. And supply chain management (SCM) is concerned with preparing & managing the movement of products. Market forecasting, manufacturing, inventory control, supply quest, logistics, commodity transportation. And a variety of other processes can all be managed with an SCM system.
3. Some of the Most Interesting Examples of Other Enterprise Softwares Include
Apart from all the aforementioned enterprise software systems such as CRM software or an ERP system, down-below I would like to focus on some other examples of enterprise application software that consolidate all the activities needed to manage content under one roof.
3.1 Enterprise Content Management Software
An enterprise content management software (ECM) can be defined as a platform that allows an entire organization to store, organize, and retrieve the organization’s content smartly. The content could be both structured and unstructured. ECM also secures content digitally in compliance with the policy. ECM systems make these records retrievable and shareable. Content can be transferred with minimal risk to the content’s security.
Such enterprise systems ensure that even users can easily access up-to-date documents. Not only, unlike other enterprise software, this one includes version control features so that old versions of documents can be recovered as needed. Some of the best features and capabilities of such project management tools include:
- Capture, Imaging
- File Sync, Storage, Archiving
- Providing actionable insights
- Document Management
- Records Management
- Content Publishing and Creation
- Security, risk management, and information governance
3.2 Business Process Automation
The next name among popular enterprise software systems is business process automation. This enterprise system is a tech-based procedure for automating activities that keep running within your organization. These types of enterprise software tend to simplify, reduce running costs, increase efficiency, and improve service delivery just to name a few benefits.
Client Management – Businesses irrespective of their size find it extremely hard to manage both accounts and clients. With such an enterprise system things can be done at the right time.
Marketing and customer support – Businesses get to create ecosystems that will simplify and restructure operations. They will be able to merge different Web applications and get them to work conjointly.
Optimized website management – Optimized website management ensures that new and existing customers get the best user experience when interacting with your website. Various tools are available that you can use to spot and fix website issues automatically to help you avoid long downtimes.
3.3 Marketing Automation
Marketing campaigns cannot be ignored at any rate especially when consumers are being bombarded with marketing messages from every direction, making a marketing campaign stand out has become more difficult than ever before. More or less, they are found under immense pressure to come up with more innovative ideas that are bigger and better than anything their competitors are doing. But doing this, on top of the day-to-day marketing activities, is not easy.
Fortunately, we have enterprise applications like marketing automation that help businesses to identify potential customers and automate the process of nurturing those leads to sales readiness.
4. Why Should Every Business Adopt Enterprise Software Development?
Holistically speaking, the entire blog was a clear demonstration of how enterprise software is imperative for your business and its benefits. Every business knowingly or unknowingly is using this software within the business in some smaller form. Building enterprise software shapes up the foundation of businesses, allowing them to easily manage their regular operations with custom features and functions. The business analytics aspect of enterprise software offers clients consistent feedback and regular updates on developed applications. These are not just applications but information systems displaying the best use of technology for your business.