5 Must-Have Features For An ERP System

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It can be challenging to differentiate between each of the various models of ERP system on the marketplace. If your business is trying to make a decision about the best system to fit your needs, it’s critical that your team understands the must-have ERP system features. And so within this post, our experts highlight five must-have features for an ERP system.

1. Inventory Management

   Your company simply cannot perform its core processes without inventory management and control. Inventory management components will help you team analyze its shipping and order levels and ensure there is enough product in stock for meeting customer demand. Inventory management is also important for tracking spending, and can help your team ensure they aren’t spending more than required on their purchases.

2. Mobile Capabilities

   Few business decisions are now made by groups of people sitting around one table any more. They’re made on the move, at airports, in hotel rooms and between teams connected by wireless access around the globe. This means that ERP systems must allow for mobile use.

   Work teams must be able to perform their tasks in real-time from various locations to ensure the organization’s objectives are met. This will also help organizations integrate telecommuting opportunities and help increase morale and productivity among their teams.

3. Intuitive Performance

   A leading issue facing many companies is that their ERP system is simply too complicated for non-IT specialists to fully utilize. An intuitive system can not only ensure that your company achieves a full return for its investment in the latest ERP technology, but can also ensure the system is well-received and used by all members of staff. This will help to build team dynamics and drive greater coordination during complex projects.

4. Financial Record Management

   Is the company succeeding in meeting its performance goals? Does productivity match return? These questions and many more can be answered by an ERP system that offers versatile financial record management. The latest systems are designed for budgetary analysis and managing all accounting needs from one location.

5. Project Management Oversight

   The top ERP systems are designed to allow for top-down management of upcoming projects. They empower teams with the data they need to make project decisions on short notice, and help complete cost calculations to ensure projects are completed according to the required standards. ERP systems can offer a full overview on project lifecycles to ensure companies are allocating their resources effectively and to reduce long-term costs.

Your company’s next ERP solution should feature each of the five elements highlighted in this article as a starting point. To discuss more on what you should expect when investing in an ERP system, speak with our trusted team today.