Top 5 Features of Enterprise Resource Planning Software (ERP)

An ERP software is a backbone of every business. Therefore, it is very important to invest in a good ERP software that is embedded with features like CRM, manufacturing management and financial management, etc.

ERP software is an integral part of any business, be it a retail, manufacturing, hospitality, hotel or any other business. The software helps you keep a pace with stocks, orders, shipping and the entire process. Since most of your business is dependent on the ERP software, thus it’s very important to invest in good ERP software. In this article we have listed some of the ideal features that we feel that ERP software must possess. The idea is to help you to select the best ERP software for your business.

Ideal features of ERP Software:

1. Mobile Functionality

An ideal ERP software should be compatible with mobile. Your employees must be able to access the software outdoors as well. This will help them to work from anywhere and stay in contact with each other. Gradually this will promote the productivity and profit.

2. Manufacturing Management

Another factor that you must look at while investing in the ERP software is that it should be integrated with manufacturing and inventory system. The inventory management feature has an array of benefits, such as it enables to reduce cost, provides you a detailed analysis of your businesses inventory information, etc. It also streamlines the production process and promotes production cycles.

3. Financial Management

Your ERP software must be embedded with a strong financial component. This ensures, that your business meets tax requirements, financial reporting with a single banking, accounting and payment systems. Moreover, the feature helps the manager to enhance the financial performance with real time information. It also improves the cash flow, reduces the cost, increase the profit level and maintains transparent and accurate financial reporting.

4. Human Capital Management

Human resource is one of the crucial modules that a business requires to streamline all the HR activities. This includes employee administration, reporting, payroll, time and attendance management, etc. Instead of investing in separate human resource management software, it is good to invest in single software that has human capital management feature as well. The cloud based ERP software allows the employees to fetch all the information related to employees anytime and from anywhere.

5. Project Management

In this competitive economy, it is very important to have an eye on the best projects that soar you profit in the future. Ideal ERP software helps you to zero-in on the best project, assign resources judicially and keeps a tab on each aspect of the project, helping the team to finish the project on the due time.

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