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Best Of Breed System 2022

Choosing the right system for your businesses is never an easy decision.

As an ecommerce business owner, you need to identify the right system for your business early on. This will help you save time and money, and will even prevent you from experiencing any entrepreneurial remorse.

While Inventory Management serves as one functionality of ERP systems, it’s safe to say that Inventory Management Software systems as a standalone product offer your business the best of breed development approach compared to ERPs.

What Is The Difference Between ERPs vs IMS?

ERP or Enterprise Resource Planning is often thrown around alongside Inventory Management Software Systems. With that being said, you should understand the difference between the two.

ERP or Enterprise Resource Planning is seamless integration and unified data hub for your ecommerce business. This solution uses both hardware ( servers ) and cloud based software.

As your business grows and your processes become more complex, ERPs help you connect workflows that result in a future-proof operation. ERPs help you forget siloed solutions as it allows you to utilize software that combines your entire business management applications into one integrated and automated system.

Inventory Management Systems on the other hand are a combination of your favorite cloud based technologies that helps your ecommerce business manage your supply chain processes. IMS helps your business consolidate your data into one single location, designed to offer support features such as:

  • Order Management
  • Inventory Control
  • Analytics
  • Reporting
  • Inventory Forecasting
  • Fulfillment

There is a wide range of IMS products available for your business. Some manage core functionality while others provide a complete backend software solution for your ecommerce business.

What Is Best Of Breed?

A best-of-breed system allows your ecommerce business to integrate several specialized technology services coming from different vendors.

This system aims to guarantee that your business can rely on multiple products, programs, and databases in one location that fits your business needs. Compared to single-vendor solutions, you can opt for a product that best solves your problems. This results in your business accessing the functionality it needs. 

Aside from that, doing this may even risk your organization’s ability to innovate since you would need to wait for vendors to release new features and versions of the software.

The best-of-breed approach may seem challenging at first glance as it involves working with multiple vendors that require unique billing and support systems. But, you’ll be surprised to realize how convenient it is to combine all of your best-of-breed technology into one fully integrated system for your business.

Here are some of the advantages of best-of-breed:

  • The chance to handpick applications that offer the best functionality to solve your organization’s problems (CRM, marketing, accounting dashboards, etc.)
  • Ability to access the latest and modern technology since best-of-breed companies laser-focus on crafting tools that quickly adapt to industry trends and requirements.
  • Growth opportunities to expand your technology stack
  • Faster return on investment
  • Tools and systems that increase efficiency productivity
  • Seamless and flexible integrations to connect your systems and result in efficient workflows

Benefits Of Best Of Breed

To help you further understand best of breed, we’re going to deep dive into three of its major benefits to your ecommerce business.

Standard Inventory Management Practices And Flexible Functionality

Best-of-breed IMS models were created with specific inventory management workflows in mind. These systems offer customized flexibility and functionality.

Not all IMS models are equal. Many of them focus on industry-standard practices while offering a more tailored approach to manage your:

  • Stocks
  • Finances
  • Business-critical decisions

System Integration

The best thing about Inventory Management Systems is their compatibility with most CRMs and reporting software. 

This is in comparison with ERPs that may have a wide range of functionality but may potentially risk integrating with your favorite platforms. 

Often, ERPs do not allow outside connections with other systems. Breaking through this limit comes with a premium price tag of hiring a custom developer.

Specific Operational Control

ERPs are excellent if you’re looking to make holistic connections company-wide. Although if you’re looking for something that can serve as a cost-effective standalone product, Inventory Management Systems may be a better choice for you.

ERPs might be too robust to help you hyperfocus on the improvement of your workflows.

The Bottomline

Our team at Clearinity wants to make sure that your ecommerce business understands the power of integrating the right tools into your business. 

We highly recommend that you seek customer technology stacks that perfectly fit the needs of your workforce and customers. The best strategy to do this is through the best-of-breed approach. This will help you make the most out of your workflows and aid you to minimize experiencing burdens in your business.

A robust integration strategy in place gives you limitless opportunities for your ecommerce business!