ERP (Enterprise Resource Planning) software can maintain information and business processes for a range of business functions such as customer relationship management (CRM), supply chain management (SCM), human resources management, financial management, manufacturing, etc.

Prior to the concept of ERP systems, all departments within an organization had their own customized computer applications. For instance, the human resources department, the financial department, and the payroll department all had their own customized computer applications. Usually, this resulted in replication of information and delay in making decisions, as information had to be gathered from different computer applications. ERP software is based on a common database so it provides the facility to every department or function to store and access information and data in real time. A usual ERP can give solutions associated to production, accounting, materials management, human resource management, sales and distribution, and project management.

To make a worthy investment in ERP software, companies should search for solutions that have a series of key features. The basic features that should be in ERP software include:

1. Project management should also be a basic feature in ERP software to select the best projects, to streamline delivery efforts, to assign the proper resources, and to track profitability.

2. Manufacturing module is a basic feature that should be in ERP software selected by you for your organization. This feature in ERP software delivers a number benefits by helping companies to line up their manufacturing and inventory processes. The benefits of this feature in ERP software include cost reductions by proficient inventory management, critical inventory information and detailed reports on business, more efficient production process with established goals, accelerated production cycles, etc.

3. Financial management should also be one of the features in ERP software. ERP software with a strong financial factor can ensure companies to meet financial reporting and tax requirements with a single banking, accounting and payment systems. It also enables the managers to augment financial performance with real-time information on revenue and expenses contribution of their departments.

4. CRM (Customer Relationship Management) is also one of the basic features that should be in ERP software.

5. According to several studies, it is found that company mobile workers will build up 73 % of the labor force. It is the reason to select ERP software that provides remote access to its processes and database. Actually ERP software with mobile functionality allows the workers to access a software program that allows a mobile device, a Tablet PC or an iPhone to connect to the ERP system. By allowing remote access, companies can assure their employees to have up to date information on everything related to the organization. Thus, mobile functionality should be a basic feature in ERP software.

6. Human resource modules have moved further than core processes including employee management, legal reporting and payroll. Recruitment, scheduling, performance support, time and attendance, employee performance, ability management, etc. should be the basic features in ERP software.

7. The integration of information should also be easy in the ERP software.

8. Another feature in ERP software should be SCM i.e. Supply Chain Management. In today’s fast and very competitive market, companies require to be able to keep an eye on logistics, demand and supply, manufacturing status, and distribution in record time.

All these are the basic features that should be in ERP software for a worthy investment in ERP system.

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