6 Must-Have Features In An ERP Solution

As businesses continue to realize the importance of automation and data integration, an increasing number of companies are turning to ERP solutions. But considering the large number of ERP solution providers that have swarmed the markets over the last few years, choosing the best ERP solution is not easy. And while several considerations go into choosing the right ERP solution. The features of the ERP are one of the most important criteria to consider when looking for an ERP solution. On that note, here’s a post that tells you about the essential features that are a must in a cloud based ERP software. Let’s delve deeper.

Integration

Lack of data integration not only leads to inefficiency and missed opportunities but also leads to a lack of coordination among different departments of an organization. The integration feature of the ERP solution offers a central view of essential operational, financial, and business data (in near-real time) that can be shared across different departments in an organization. The feature promotes business intelligence as the integrated data can be used to generate meaningful reports and insights that allow business owners/ project managers to make informed decisions.

Automation. 

Another key feature of an ERP is its ability to automate critical business processes. This leads to faster and more efficient processes, as well as less time spent on time-consuming processes (such as manual data entry) and more time spent on things that do matter (such as making sales). Automation also reduces errors, which means fewer mistakes and less stress for everyone involved. Also, ERP solutions can automatically trigger actions based on preset commands. For instance, an inventory tracking module in a logistic company is programmed to trigger a shipment and invoice once a certain SKU becomes available. Automated actions like these not only lead to more revenue but also translate into a better customer experience. Similarly, automation allows line-of-business executives to automatically receive updated reports on cash flow and other important metrics, which in turn helps them make better decisions.

Data Analysis

Data analysis is one of the most perennial priorities for business owners and project managers. One of the benefits of ERP is that it allows better data analysis. An ERP solution provides a single view of your business and all its processes. Which makes it easy to spot trends and patterns in your sales. This, in turn, enables process managers to reflect on and evaluate the effectiveness of critical tasks and provide forecasts for future business decisions. The best part is that advanced ERP solutions not just provide reports but also provide their own analysis of critical business information. For example, an ERP solution can predict demand and create budgets. 

Reporting 

The terms ‘reporting’ and ‘data-analysis’ are often used interchangeably when it comes to referring to the features of an ERP. And while this is common practice, the fact is that the two are not the same. For instance, the reporting feature of an ERP refers to the tools that use business analysis. Usually, these tools used in reporting include pie charts, bar graphs, Gantt charts, and customizable dashboards. On the other hand, data analysis is the conclusion drawn on the basis of these reports. ERP reporting provides important information about different functions in an organization. Which empowers stakeholders to identify problem areas, make informed decisions and enhance business processes. It is, therefore, important to ensure that the ERP solution you choose for your business has robust reporting capabilities. 

Tracking and Visibility

This is one of the most important features of an ERP solution. ERP allows better tracking and visibility of business processes, which in turn helps improve the efficiency of a business. With an ERP solution, businesses can easily track sales figures and other financial activities of their business. It also provides access to necessary information about inventory, customers, products and more. ERP solutions allow business owners and managers to manage employees’ productivity by tracking their attendance and time spent on various tasks. Businesses can also track employee performance using this tool. In addition, an ERP solution also allows businesses to manage their inventory levels by keeping track of purchase orders and receiving them directly into the ERP system companies.

Customer relationship management (CRM)

ERP solutions with integrated CRM features help expand the view of businesses. As it brings key customer relationship data into the picture. It includes relevant customer information such as contacts, order history, purchase orders and prospect status. All the information is available on a centralized database and can be easily accessed as and when required. Besides contact management, the feature also allows businesses to handle sales pipeline activities, lead management, and marketing automation. And lest we forget, the best part about ERP solutions with integrated CRM features is that it eliminates the problem of data duplication. which is a big relief for ERP users. 

These were some of the key features that one must look for in an ERP solution. If you are looking for power ERP software to automate your business, Autus Cyber Tech is here to help. We offer highly reliable, customizable and affordable ERP solutions. If you have any questions or want to discuss a requirement, call us at 91 74288 24488 or drop us a line at info@autuscybertech.com.