Enterprise resource planning (ERP) ranks high among the most comprehensive, powerful data management solutions available. For many businesses, ERP is an ideal solution for data analysis, automation, and full-scale infrastructure integration. Yet, with many systems available, each seemingly tailored to different industries, selecting the right ERP solution can seem overwhelming. Fortunately, the solution is simple: Ensure your prospective system offers these strong ERP functionalities. Solid ERP solutions have the following eight core capabilities in common.
ERP provides a fully integrated, intuitive platform through which you can analyze, monitor, and even conduct the majority of data-driven tasks. Through a single convenient portal, ERP collects, stores and administers data analysis, ensuring seamless communication within your organization. You can even use ERP to deploy a customer service platform that is integrated into your system, ensuring that you stay on top of customer activities such as orders, invoices and contact.
Integration also allows your business to track, collect and analyze data on all tasks, records, information and activities performed within the system. This increases efficiency on an organizational scale, ensuring smoother operations and improved productivity.
What processes and systems need to be integrated with your ERP software? For a full list of ERP integration considerations see our ERP Requirements Checklist and Template.
2. Automation and Process Management
ERP can easily automate and monitor the majority of data-driven processes. For example, you can use ERP to manage everything from payroll, accounting and invoicing, to manufacturing, reporting, and sale statistics. Task automation is a particularly valuable function that streamlines all business operations; it saves money, maximizes time, and optimizes the use of human capital.
3. Data Analysis
ERP’s comprehensive data analysis allows your business to constantly collect important data, analyze information, and even apply findings. ERP analyzes data relating to all business operations, including client data, production statistics, sales data, and much more. Data analysis offers easy access to vital business data and gives you the tools you need to track organizational productivity and efficiency.
Find out how well leading ERP systems meet your business and budgetary requirements. See our free evaluation report, Top ERP Software Ratings and Pricing.
ERP provides detailed reports that are intuitive, actionable and relevant. Additionally, it allows for complete traceability, ensuring that every error, inconsistency and questionable process can be traced, corrected and prevented. Thus, ERP’s reporting capabilities help you target your business’s weaknesses, ensuring stronger performance over time.
5. Customer Service Management
With ERP, you can design and implement comprehensive customer care solutions. You can easily manage call centers, deploy online customer management tools, and gauge customer satisfaction. In addition, you can thoroughly evaluate staff performance based on a number of factors. ERP’s customer service management capabilities make it easy to improve long-term customer retention.
Topping the list of key ERP capabilities are the accounting and financial management features. ERP platforms provide exceptionally strong tools to manage every aspect of sales and revenue for your business. A strong ERP system will allow you to manage and even automate payroll, customer payments processing, accounts receivable, accounts payable, sales analysis, and expense management. This improves accuracy and processing time, reducing the burden on staff time.
7. Back Office Functions
You can use ERP to manage and automate the majority of back office processes. Generally, these include time-consuming tasks such as payroll, scheduling, project assignments, client data management, and the majority of administrative functions. The result is a faster, more accurate processing.
ERP provides comprehensive tracking capabilities. Just as an example, ERP capabilities allow you to track sales, production statistics, deliveries, procurement, and staff productivity. You can also generate customized barcodes and RFID tags. All this makes it easy to track shipments, deliveries, incoming supplies, and units produced, units sold, and process productivity.
ERP is a powerful data management solution. It streamlines business operations by automating the bulk of data-driven processes, performing extensive data analysis, and providing accurate data management, all within an intuitive, integrated framework.
If you are ready to evaluate the ERP capabilities your organization needs, start by downloading our complimentary ERP requirements template.