Developing an ERP System with Low Code i4ware SDK: Project Phases, Duration, and Benefits
Developing an ERP (Enterprise Resource Planning) system is a demanding and long-term process, but it can be efficiently accomplished using the Low Code i4ware SDK. In this blog post, we will go through the steps of the ERP system development process, the project’s duration and pricing, as well as the key funding opportunities that your company can take advantage of.
Project Duration and Resource Requirements
The development of an ERP system typically takes six years, based on a 37.5-hour workweek. This timeframe is necessary due to the system’s complexity and scope. The ERP system must meet your company’s specific requirements, which involves careful planning, development, and testing. The development process is not just technical work but also includes optimizing and integrating business processes.
Pricing
The cost of participating in the project is €95 per hour (+ VAT), covering all the expertise and work needed to successfully implement the system. It’s important for the client to prepare for the project’s costs and ensure that the company has the necessary financial resources. Developing an ERP system is a significant investment, and the financial stability of the company is crucial for the project’s success.
Funding Opportunities: Business Finland and ELY Center
There are many funding opportunities available for ERP system development, which can facilitate making such investments. Here are some key options:
- Business Finland’s Innovation Voucher: Business Finland offers an Innovation Voucher valued at €6,000. This voucher can be used in the early stages of developing a new ERP system, such as in planning, prototype development, or preliminary testing. The Innovation Voucher is an excellent way to secure initial funding and accelerate the development process.
- Other Business Finland Funding Options: In addition to the Innovation Voucher, Business Finland offers other forms of funding, such as research and development funding and internationalization grants. These can be beneficial if your company is planning a larger ERP project or international expansion.
- ELY Center Funding: ELY Centers also provide funding for the development projects of SMEs. ELY Center funding can cover, for example, product development, internationalization, or business development. ERP system development may qualify for support if the project contributes to the company’s growth and competitiveness.
EU Funding Through the EURA System
Many companies can apply for EU grants for ERP system development through the EURA system. This is particularly useful if the project is large and requires substantial financial resources. EU funding can cover part of the costs and ease the financial arrangements for the project.
Outcome: Utilizing the SaaS Model
Once the ERP system is completed, you can sell it to your customers using the SaaS (Software as a Service) model. This business model offers flexibility and the ability to scale your company’s offerings. The SaaS model allows you to create new business and increase your revenue by providing ready-made ERP solutions to other companies.
Summary
Developing an ERP system with Low Code i4ware SDK is a long but rewarding process. Funding opportunities like Business Finland’s Innovation Voucher, other Business Finland supports, and ELY Center funding can help your company undertake this important project. Utilizing EU funding can also bring significant benefits.
If you are interested in developing an ERP system with Low Code i4ware SDK, get in touch. Let’s plan a project together that leverages available funding opportunities and takes your company to the next level!
Public demos: https://saas.i4ware.fi/ and https://chat.i4ware.fi/