Features of ERP
Below are the core features of ERP systems:
- Financial Management: ERP systems are used to manage financial transactions, produce financial statements such as balance sheets, manage companies’ tangible and intangible assets, and track money owned by and to the organization.
- Supply Chain Management: ERP systems help to monitor the stock levels, track inventory movement, manage the movement of goods, and automate the purchasing process.
- Human Resources: In an organization, ERP systems help to manage employee records, automate payroll processing, and manage recruitment and onboarding.
- Customer Relationship Management (CRM): ERP systems help in sales automation, automate marketing campaigns, track customer interactions, and improve customer satisfaction.
- Project Management: ERP systems support project planning and scheduling, and monitor project time and expenses for accurate cost estimation.
- Manufacturing: ERP systems help in production planning, list all the raw materials required for product manufacture, and monitor the production process.
Introduction to ERP
ERP stands for Enterprise Resource Planning. ERP systems are the kind of software tools that are used to manage the data of an enterprise. It helps different organizations deal with different departments of an enterprise. Different departments like receiving, inventory management, customer order management, production planning, shipping, accounting, human resource management, and other business functions. This article focuses on discussing an ERP system in detail.
Table of Content
- What is ERP?
- Features of ERP
- History of ERP
- Why ERP is Important?
- How does ERP Work?
- Types of ERPs
- Benefits of ERPs
- Weakness of ERPs
- ERP vs CRM
- ERP Solution Providers
- Tips for Choosing an ERP
- Conclusion
- FAQs