ERP packages have a number of features which enables the company to get expertise in its business areas. The software comes with the business design to ease the process of management of various departments of a company such as the manufacturing, production, stock maintenance, inventory, employee management, payroll, SCM, finance and CRM.
There are many myths associated to ERP such as it requires employees to be tech savvy, it may make the work more technical that follows more procedures, it may make the employees jobless, it slows down management and it is just to impress customers etc. But, there are numerous benefits of ERPs and therefore leading companies across the world use automated systems to manage their everyday work.
Providing business intelligence and decision making: ERPs enables the companies to get insight into company's performance and it suits the analytics which allows the users to get real data on time. The integrated and updated data enables the managers and employees to streamline various processes and also helps in improving performance of a company. Better visibility enables the company's management to take quick and apt decisions.
Customer Relationship Management: The second most beneficial feature of ERP is that it provides the company with actual updated data which can be used to improve the sales of the company and to provide customer service. The field work done by marketing personnel can be updated without spending on transportation through wireless services and the sales manager can get the updated inventory record from the company as and when they wish to get it. The feature helps the employees to create marketing campaign, send immediate acknowledgement and messages to customers and to provide service immediately as it is needed.
The sales quotes can be sent to the customer without much effort and the vendors can give flexible process to the client to make apt decisions.
The latest features of ecommerce are very beneficial and effective to manage data across borders and enable fast services.
Financial management: The accounting features and financial management not only provides the accounting reports, P&L statements and Balance sheets at any time, it also provides the data which can be send by the management to forecast and to make future planning for the company.
Human capital management: The management of employee data which includes everyday attendance, shift management and labor tracking helps the company to administer the employees easily.
Supply Chain Management: SCM helps the organization to improve the flow of material which increases production cycles as it fastens the process of planning, scheduling, procurement and fulfillment of requirement.
Manufacturing: It automates manufacturing processes because the application can be efficiency designed to suit the manufacturing requirements - the software can analyze the data in the inventory to find out if the production can be started or not. The product capabilities and job costing can be identified and the features such as CRP - Capacity Requirement Planning, Product Data Management, Material Requirement Planning, Master Production Scheduling and shop floor control can be found.