If you open up header.php there should be a bit that looks like:
<div id="heading">
<h1>
<a href="<?php bloginfo('wpurl')?>"><?php bloginfo('name')?></a>
</h1>
</div>
It will probably not be identical but the important bit is inside the <h1> tags. Probably the easiest way to do this is to hardcode your blog name. To do this, replace the bits inside the <a> tag with Advance ERP Solutions. You will also need to put a span around the ERP bit so that you can make it red later. You will end up with something like this:
<div id="heading">
<h1>
<a href="<?php bloginfo('wpurl')?>">Advance <span class="erp">ERP</span> Solutions</a>
</h1>
</div>
To change the colours, open up the style.css file. Line 353 defines the styles for the header link. To override it, add the following lines somewhere in the file (probably at the bottom to keep it separate):
#heading h1 a {
color: #00F;
}
#heading h1 a .erp {
color: #F00;
}
This will give you pure blue and pure red and will look awful so just replace those two colours with nicer versions. This should give you what you are after.