Planning to Invest in ERP Software? Here are the Features that you Should Check!

Planning to Invest in ERP Software? Here are the Features that you Should Check!-feature image
April 12, 2023 Reviewed By : Asheet Makhija .4 Min read

Enterprise resource planning software commonly known as ERP software is the backbone of every business. Be it retail, manufacturing or any other business, ERP software system is a must-have for them. The software automates and integrates, the company’s core operations, helping them to focus on the effectiveness and efficiency.

The ERP software keeps a record of inventory stocks, taking customers order, etc. Since your business depends on the software heavily, thus it is important to zero-in the best ERP software system. To help you select the best software we have listed some of the must-have features of the ERP software.

Features to consider for the ERP Software System:

  • Inventory Management
  • Compatible with Mobile
  • Financial Management
  • Project Management
  • Customer Relationship Management

Inventory Management

No company can work without inventory management and control. It helps your team to keep a tab on the stocks and shipping and the number of orders processed in a day. One of the advantages of ERP software system is that it provides comprehensive information about the supply chain activity as well as the production process. This eliminates the shortage of the goods and saves huge time and money, helping you meet your customers’ requirements on time and increase the productivity and efficiency. In the long term this will raise a substantial profit level.

Suggested Read: What Is ERP (Enterprise Resource Planning) & Why Do You Need It

Compatible with Mobile

Look for the ERP software that is compatible with mobiles, since it allows the users to access the database and process dashboard remotely. Cloud based ERP systems help the employees to access software functions from any device; it could be smartphone, tablet or desktop. In addition, it enables the team to coordinate with each other through any platform from anywhere across the globe and at any time.

Financial Management

For any business, it is important to have a clear view of their accounts, thus ERP software system must have financial module. The ERP system with a good financial component ensures companies meet tax requirements and financial reporting seamlessly with a single banking, accounting and payment systems. Therefore, not only this, the feature helps the managers improve their financial performance with real time information, helping to increase the cash flow, reduce cost and increase the profit level with accurate and timely financial reporting.

Project Management

The project management business software should be embedded with project management features. This feature is very crucial, since it helps the companies to select the best projects and remove all the tedious tasks involved during the manual selection of the project. By empowering your team with the data they need to make the sound project decisions in the short time, this feature ensures that the projects abide all the standards and finish at the due time. In addition to this, it gives an overview of project life cycles, to make sure that all the resources are judicially utilized.

Customer Relationship Management

A customer relationship management module enables you to bring together the entire data, be it related to invoicing activities or status of the contracts. This further allows the marketing team, sales team and customer service support to access the customer’s details and related information helping them to address their queries, preferences need and analyze their buying habits. This, in the future will help the business to design the goods accordingly and improve the profit level.

Above all, there are many other additional ERP software system features as well like the system should be easy to use, monitoring supply chain, integration with the ERP Manufacturing Software, human capital management and host of delivery method, etc. Have a look of the best ERP software system available on our website!

Suggested Read: What is ERP Finance Module: Features, Benefits & Example?

Written by Gargee Goswami

Gargee Goswami is a self-confessed bibliophile who loves to write in her free time (the little that she gets). Having vast experience of 6+ years, she counts tea, travel and food as her life's great passions. Read more

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