Enterprise Resource Planning, or ERP, systems are made up of tools intended to facilitate the management of all information that impacts a company’s business decisions. Depending on your company’s niche, you’ll benefit from different features available in an ERP.
Manufacturing companies have different needs than consulting firms. Businesses that focus on retail require distinct capabilities than those in the financial sector. Learn more about the features available in different ERP system examples and evaluate which might be best for your corporation.
ERP System Features
An ERP can automate, simplify and evaluate most accounting processes. What can take employees days to analyze and compute can be achieved within minutes using an ERP. An ERP can facilitate payroll, budgeting, billing and banking operations. The software can conduct cost analyses to better manage cash flow and forecast future growth. Using the ERP to perform these functions can reduce human error and help cut costs.
An ERP can not only help with hiring and training new employees, but also tracking their individual productivity. Each employee can log into the system and enter time worked and manage benefits and vacation time. The ERP can automate payroll processes, removing the need for an extensive payroll department. ERP software can send out employee surveys and news, provide an online community for employee collaboration and contain the policies and procedures for a company.
Production and Distribution
Some features included in an ERP that can benefit the manufacturing department by providing production control, process synchronization and quality evaluation. An ERP can also analyze the financials of a manufacturing company and automatically adjust processes based on cost analysis and forecasting. The software can automate distribution scheduling that often takes up precious employee time.
Orders and Inventory
What begins with the sales team needs to flow seamlessly to the inventory management team. Inventory and materials management features help companies keep track of stock, set appropriate price points and locate items within the warehouse. Supply chain management features eliminate the human error that can result in costly mistakes in the distribution system.
ERP System Examples
Epicor ERP 10
Epicor’s flexible collection of ERP tools can be deployed on company computers, in the cloud or on an external server. This platform highlights collaboration by allowing users to access data from different devices. A 2014 Forrestor Consulting Study found that this software gave companies a 103 percent return on investment within about a year and a half.
IFS Full Suite ERP
If you’re looking for a user-friendly interface for project management, the IFS Full Suite ERP solution is ideal. This platform is perfect for manufacturing and engineering companies.
Infor ERP SyteLine
Based in the cloud, this ERP solution can be customized for large-scale manufacturers and distributors. It’s scalable, so it easily adapts as your business grows.
Microsoft Dynamics AX 2012
International businesses will find Microsoft’s ERP solution useful for most of their departments. The software is powerful and easy to implement, improving its value for driving organization and productivity.
Oracle JD Edwards EnterpriseOne
Oracle’s most recent product is ideal for corporations seeking a financially focused ERP solution. This ERP automates a majority of a company’s accounting, whether for small projects or overall evaluation. EnterpriseOne helps businesses amplify their financial success.
Sage ERP X3
For small-to-mid sized companies, Sage ERP X3 improves productivity within fundamental business systems. The software has complete mobile capability, making it ideal for use in a flexible corporate environment.
SAP Business ByDesign
Another cloud-based ERP tool, SAP Business ByDesign can manage any facet of a corporation with around-the-clock availability.
Completely customizable, SYSPRO 7 can be incorporated into any company’s system management. Whether your needs are based on financials, customer service, sales, distribution or manufacturing, you can personalize SYSPRO 7 for your company.
In a 2015 survey, Aberdeen Group found that about 90 percent of companies have implemented an ERP. If you haven’t employed any enterprise resource planning systems and are interested in finding out more about ERP examples, learn more with our ERP software requirements template.