What are the common features of enterprise resource planning (ERP) software?
An enterprise must deal with several types of resources, from physical assets to employees. It is difficult to manage everything, especially for startups, small and medium-scale businesses, and organizations with multiple offices within the same city. If the resources are not utilized appropriately, there can be serious problems. Most businesses incorporate the best enterprise resource planning software within their existing infrastructure.
Enterprise resource planning or ERP software is used to manage all the resources in hand and allocate them properly. For instance, HR managers can allocate employees to new projects based on the ERP software. Similarly, one can manage the order for a new lot of laptops for employees through this software solution. Therefore, everyone must understand the key features of enterprise resource planning software.
API and cloud integrations
One of the primary features you should look for in the best enterprise resource planning software is the availability of cloud and API integrations. With the APIs, you can integrate the ERP software with other third-party apps your business uses, like inventory management software, delivery and fleet management software, accounting software, invoice generation software, and so on.
Also, it would be best to go for an application with cloud integrations. This will help you save data on the cloud warehouses and access the business network remotely.
Customer relationship management
Businesses must maintain a cordial relationship with their customers, so customer engagement and retention chances can increase. However, it is not easy to maintain an appropriate relationship with the customers, especially if the competition is high and your business is still in its budding stage.
Therefore, you can choose an ERP solution integrated with the CRM or customer relationship management platform. With this, you can easily maintain high-quality communication with your customers, keep them engaged with your business, and retain them for the longest possible time. Also, you will be able to collect information sets on your customers to analyze them further.
Finance and accounting page
The best enterprise resource planning software will have a separate page to help you maintain the accounts, financial transactions, invoices generated, bills, and so on. With this, you will be able to focus on improving the use of funds available properly and take the business operations to the next level.
Besides, the transactions recorded in real time will give you an overall idea about the cash flows. You can compare them and optimize the strategies to ensure cash outflow is much less than cash inflow. This way, you will be able to meet the profit margin you have set without any further problems.
Sales and marketing dashboard
An enterprise resource planning software also needs to have a separate dashboard for marketing and sales. This will help you to synchronize resource planning and allocation, finances and accounts, and other such attributes with the marketing and sales funnels.
Based on the results, you can make changes to get a higher conversion ratio and a higher number of leads. Also, you can increase the overall sales and net revenue in every quarter of the concerned fiscal year.
Analytical tool and graphical representation
You should ensure that the chosen enterprise resource planning software has built-in analytical and graphical presentation tools. This will help you to extract datasets from CRM and other channels and feed them into the input of the analytical tool.
The reports generated or the forecasts made should be accurate and precise. This way, you won’t have to face any difficulty in decision-making or mitigate the risks your business is facing now.
Device responsiveness
The best enterprise resource planning software must have an interface with backend functions and device-responsive features. In other words, users should be able to use the software across multiple devices and browsers without dealing with changes in the functions and features.
Besides, responsive ERP software will help you access the dashboard from any device on the go and make changes or take a quick look at real-time recorded real-time datasets.
Conclusion
Finding the best enterprise resource planning software is quite difficult. Not only do you need to be sure of its optimal performance and productivity, but it needs to have the above features at any cost. There shouldn’t be any compromise with the functions and performance quality of the software. If you want to know further about ERP solutions or help with its end-to-end implementation, you can connect with the experts at SVAM International.
