PUBLISHED: May 7, 2019
KEY FEATURES OF AN ERP SOFTWARE
Enterprise Resource Planning is a unified management of business processes. Such management is using an ERP Software with real-time posting.
ERP System is very important to Large Companies because in can generate data for analysis. Each company have different Enterprise Resource Planning requirements and there are available ERP System providers in the Philippines that could work to different kind of companies. But what is the main features that an ERP must have?
1. Integration Capability of an ERP Software
One of the company’s goals in obtaining an ERP Software is to make their daily transaction faster and to have more efficient employees so that they can focus more on other tasks. That is why Integration is one of the features that an ERP System can handle. Integration let’s all the work unified and allows the departments in the company work together.
2. Analyzation of Data
Since ERP Software unifies all data and functions of a company from Administration to Customer Relations Management (CRM), data flow is stable, and analysis can be done easily. For example, ERP Software can forecast the business’ ability to purchase assets or to increase budgets for each department.
3. Report Generation
ERP Software allows the company to produce accurate and comprehensive reports that is vital for knowing the current status, comparison of performances by period and yearly output per department. These ERP System Reports are made available in different formats applicable to the data being generated to have a visually effective output.
Making transaction computerized and automated using an Enterprise Resource Planning Software produces a quality and accurate result in terms of Accounting, Billing, Sales, Purchases, Inventory, Payroll etc. It will also help the employees to be more productive through equipping them the right tool in accomplishing their tasks.
Accounting must be a top priority in an ERP Software as one of the most important area in any business. ERP System supports the business in managing Accounting transactions, Tax Compliance especially in the Philippines wherein Bureau of Internal Revenue or BIR requires large companies to have a Computerized Accounting System. Enterprise Resource Planning System with Accounting must follow the rules and regulations set for a computerized Accounting.
Companies must consider these features when buying an ERP Software because the cost for an ERP Software is high that decision makers must be fully informed and wise.