ERP (Enterprise Resource Planning Systems) is a system that is integrated with diverse functions that cover the needs of each department within the enterprise. What is the specific role of each feature? Let’s look at 8 key ERP features that every business should have in the following article.
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Currently, ERP is designed with various modules to go along with the growing needs of enterprises. “In 2019, the global ERP software market grew by 9%, resulting in a worldwide value of approximately $39 billion in total software revenue.” The following are the most basic modules always present in the ERP system.
ERP is an automated multifunctional application. It links all business activities, capable of analyzing and predcting work results.
ERP can have automated functions such as payroll, order processing, invoicing, etc. The automation ability brings the greatest benefit to businesses in reducing time spent on work. manual data entry, reducing errors and allowing employees to focus on other, more important tasks.
ERP allows control and overall monitoring of the work of each department in particular and the company in general. The collected data helps ERP to make in-depth, multi-dimensional reports, analyses, and evaluations. This feature maximizes the manager’s work, assisting the manager to accurately assess the actual situation of the business, predict the development direction and build appropriate future plans.
Basically, sales features will include: Create orders, Process online orders, Export sales invoices, etc. This feature helps to make sales processes transparent, increase employees’ sales performance, and save time buying for customers.
Along with that, ERP system management tools will support multi-channel sales management, providing data collection and analysis tools to evaluate seller performance. Thereby, sellers can build appropriate strategies and programs to boost conversion rates and increase business sales.
The ERP modules previously had limitations in employee management, payroll management, or reporting… But today’s ERP system has been developed and designed to handle a variety of Human Resource tasks such as recruitment, time and attendance management, performance appraisal, employee database management, and more.
Compared to proficient Human Resource Management software, ERP systems are relatively different. It is designed under the view of business management while HRMS serves the specific needs of a human resources department. Therefore, ERP systems are best for having an overall insight to control the activities in the Human Resource Department.
Enterprise management software ERP provides a full range of basic features and tools of the accounting and financial fields, including General Ledger, Paying Accounts, Receipts, Balances, Financial Statements, Financial Reports, Cash Management,…
This function helps businesses manage cash flow effectively, as well as significantly reduce data entry time, which meets important operations of financial accounting. Also, it helps the management process of revenues and expenditures be more effectively controlled.
The ERP system provides the following features: Inventory tracking, Warehouse Management, Quality Tracking, Delivery Coordination, etc, to help businesses optimize the process of production management, logistics, and distribution.
Moreover, the ERP system will build a suitable production plan to help optimize cost and time, reduce the failure rate in the production process, cut storage costs, and effectively track the inventory quantity, as well as assign the right vehicle for the transportation process. These features not only help save costs but also increase production efficiency and product quality.
Customers are a significant valuable asset of any company. If your company has a massive customer database and it becomes difficult to manage the database. The customer management software module of an ERP system ensures the flow of information and clarifies those to sales teams. In addition, thanks to one single source of data, the marketing teams are able to understand past and present customer preferences to capture their needs by hosting particular campaigns.
ERP is a system, not software with a single feature, as you often see. Therefore, an enterprise ERP software must be designed with diversified features and many functional modules that are suitable for different jobs and businesses.
Therefore, tools and functions on the same ERP system must be tightly integrated. This allows the sharing, exploitation, and development of common data sources between different departments. Thus, the information source ensures consistency and updates, minimizing errors and saving time processing.
It is normal to notice that businesses deploy more than one business software to carry on specific needs. Still, it turns out to be a huge mess if you do not know how to gather the information flow from separate software into one.
As a result, many businesses still fail to use the system because they are not aware of the integration’s importance. Data integration stays at the heart of an enterprise system to create one single source of trust. Hence, it modernizes and automates management activities sleekly.
ERP integration is a component of a larger data integration strategy. However, it can be tough to keep track of all of this information. It’s easier to evaluate and handle data when companies combine it into one central area, such as an Acumatica Integration, especially when utilizing machine learning, a subset of AI. Machine learning allows businesses to examine data more quickly and make decisions based on facts and statistical trends rather than guesswork. Companies benefit from a single source of truth from which they may gain insights and better serve their consumers.
That’s why Hexasync Integration Platform – a flagship from Beehexa, was invented to help businesses solve this difficulty. Beehexa proposes the top-notch service to deliver the best ERP integration service for every ERP user having a positive experience throughout the exploiting period.
HexaSync can handle every ERP integration scenario with dedicated support, consultancies, with custom pricing plans that closely fit your business.
In recent years, ERP is always the first choice of businesses to manage and control the resources of an enterprise.
However, the addition of different functional software ERP makes it complicated to share information and data between departments, causing trouble for users and disrupting its operating processes.
With an ERP integration solution, businesses will apply a unified platform with robust features into the working environment and optimize the business strategies by gaining the transmit information and data. Thus, it is crucial to capture this solution and start finding the best integration providers for your company.
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