ERP software covers various important functions that integrate all departments of a business. Accessible by teams sitting around the globe, a good ERP solution offers a real-time and detailed view of data and tasks. ERP helps businesses streamline different departmental workflow for overall organizational growth and facilitate better decision-making.
Selection of the right ERP software development company is important to make the ERP software a worthy investment. A business should look for ERP solutions that possess certain features. This post looks at 5 such features:
Integration Facility: Every business functions in a different way. So, it is extremely important that ERP solution works flawlessly with all your existing and important business applications. An ERP solution with ease of integration can easily work with the existing infrastructure and help a business improve its operational efficiency. As such, it is advisable to check its integration capabilities before buying and implementing an ERP solution for the business.
Customization Capability: Another must-have feature of a good ERP software is its customization capability. Before implementation, a business should go through with the number of customization options that come with the software. An ERP solution should be scalable too since any business process or workflow changes with time. The software must be capable of working flawlessly as per these changes.
Remote Access: Not every decision is made by management sitting in a conference room. Some decisions are made by them on the move, in hotel rooms, at airports or from anywhere in the world and at any time. This means that an ERP solution must have mobile capabilities or remote access. Your teams should be able to do different tasks in real-time from different locations and ensure short term and long term goals are met. This feature is also helpful to increase productivity and morale of team members.
Accounting Management: Accounting management or financial management is one of the most crucial modules of any ERP system. This feature is important for any business to ensure proper and prompt financial reporting. Looking closely at this feature before implementation and understanding how it will work with current reporting and control practices is important. Putting some time in this will allow you to have the best components of accounting management and financial reporting and improve financial management within departments and in the business.
Human Resource Management (HRM): Another must-have feature of ERP software is HRM because it will deal with the most important members of your business – your employees. In the earlier days, this feature was hardly given any importance and was used mainly to manage basic functionalities such as employees management, payroll and basic reporting. However, current HRM features have evolved and moved beyond past limitations. Now, many ERP software development companies provide software with inbuilt features such as attendance management, performance assessment, scheduling, time tracking, etc. Getting this data in real-time helps find and sort problems before they become big. In addition, it significantly improves employee performance across the organization.