Most ERP solutions for Training Institutes available in the market today provide similar functionality and many organizations evaluate solutions on the basis of their functional capabilities at a particular point in time.
You buy it today but use it for a decade!
This approach is common place but is not the most appropriate methodology for evaluating and selecting a business solution for the long term. The approach will lead to different results when two products are evaluated over a period of time because of the leap frogging of one product over another as new releases are brought to market
The life span of an ERP solution is often ten or more years and during this time technology and business requirements will change. While the functional capability of a product is important, it is equally important to take into consideration the technology on which the product is based and its ability to be modified and enhanced to meet the changing needs of the organization.
Furthermore it is critical to make sure that essential changes do not jeopardize the ability to migrate to subsequent releases of the product whilst preserving the integrity of the business specific changes.
VIENNA Advantage ERP for Training Institutes is functionally rich, and has ability to incorporate business specific changes and reserve those changes into future releases of the software. It is a sophisticated open source business solution that provides an industrial strength alternative to proprietary products.
System Architecture is IMPORTANT!
Business applications change over time. They need to utilize new technology and always need to provide additional and smarter functionality. Packaged applications must also support additional customer specific functionality, although it is often not suitable for integration in the core functionality (e.g., customizations and certain extensions). Even though it is known that requirements for packaged applications are constantly changing over time, very few applications are designed to sustain change and additions. Business applications can have a long life expectancy and tend to provide more functionality over time due to enhancements, so it is important to provide a framework to manage this proliferation of complexity. If applications are not designed to sustain increasing complexity they will become unstable as extra functionality is grafted onto the base application.
Here is a list of features that you should look for, when selecting an ERP for Training Institute:
1. Institute operations
A good ERP solution for Training Institutes should be able to provide the following features: Basic Set-up (Course Structure and Related Masters), Batch Schedule (Academic & Trainer Calendar), Trainer Attendance (non-employee), Print Formats, Change Batch – Process, Project Management – Including Batch Preparation & Batch Confirmation (Workflow), Fee Collection Form, Student Registration Form.
2. HR Management & Payroll
The HRM & Payroll module of every ERP for Training Institutes should include the following features: Employee Master Data, Departments, Contracts, Remuneration, Attendance, Payroll, Overtime, Payments.
3. Customer Relationship Management – CRM
Every Training Institute needs to successfully manage its customers, the “students”. In this way a good ERP solution for Training Institutes should include a powerful CRM solution that will provide: Marketing Channel & Marketing Campaign Management, Request Management, Sales Management, Sales Agents, Customer Master Data, Helpdesk & Support, Service Offerings, Price List / Fees Management and Discount Schema.
- Download VIENNA Advantage CRM Brochure.
4. Finance Management
Keeping your bills, expenses and revenues, in order is important in all organizations, and training institutes are no exception. Therefore a good ERP solution for Training Institutes should provide the following financial features: Multiple Tenant Management, Multiple Accounting Schemas, Multiple Bank Accounts & Cashbooks, GL Journal, Fee Collection, Penalties, Fee Reminders, Disbursements, Time & Expense, Financial Reports, Dashboard and KPIs.
5. Agents’ Commissions
This module should be an integrated part of every ERP solution for Training Institutes, and should include the following features: Agents’ Commission Set-up, Commission Basis, Commission Tenure, Periodical Commission Calculation, Commission Pay-outs.
6. Material Management
Although it might sound strange, but a Material Management Module should be an essential part of every ERP solution for Training Institutes because it will provide features such as: Warehouse Management, Product Management, Price List Management, Internal Use Inventory, Multi-Currency, Inventory Move, Move Confirmation, Print Formats etc.
A good ERP solution for Training Institutes includes the following features: Requisition, Purchase Order, Material Receipt, Vendor Invoice, Vendor Payment, PO-Material Receipt-Invoice Matching, Invoice Ageing Reports.
Emails, Calendar, Alerts, Notices, Workflow, Inbox, SMS, Dashboards, Favorites.
Strong Web Based User Interface in HTML5, Role Centre, Business Intelligence, Reporting Capabilities, Activities, Contacts, Workspace.
Workflow Management, Data Dictionary.