ERP software are the heart and soul of organisations. However, many times people simply don’t even know what they can expect from an ERP system. That doesn’t mean that you’re not a good leader or a business person, it just means that you need to know exactly what you’re getting into otherwise problems can arise.
Standard Features - ERP Software
In the standard features of ERP, mean those features that will be the same from vendor to vendor. An ERP software that doesn’t have these features would just not be called a true ERP system. In this, you can expect:
Inventory Management
Accounting
Order Entry and Invoicing
Purchase order processing
The idea behind implementing the ERP software is to have a single system that overall manages your business. You can manage all facets of a business under this one software to have your business needs met. The above mentioned features are all core components of an ERP. If they are missing then that means you will have to invest in multiple other resources to get your business running.
You might be thinking what can be the use of additional modules and features. To put it simply, they can be specific for your company and can help with growth and expansion in the future. Some examples of advanced functionality are:
Lot Tracking
Landed Cost Tracking
Commission Processing
The Benefits of ERP
The benefits are wide-ranging but all of them point toward how ERP is essential for any business out there. So let’s start with what makes it that beneficial.
Saves Investment
With ERP, rather than installing numerous autonomous systems, you can just have one integrated system. It can be the access point for all your business information. Imagine how much money that saves!
It Simplifies A Lot
ERP also simplifies a lot. You don’t have to keep going here and there to get information. Having information in a lot of places also means you might miss out on key trends and patterns. So Instead of searching for an accounting system to integrate with your inventory system or vice versa, just get an ERP to simplify your business.
Standard Functions of ERP Software
To give you more information on the standard functions, know about the basic modules. For example, the standard functions offered are purchasing, project management, project cost accounting, costing, and quotation management. These modules are very typical across the board and will not vary from vendor to vendor.
Know The Example
To simplify this for you, most ERP systems have a purchasing function. This one enables you to view your procurement costs, know your purchasing information inside out, manage purchase orders, and track costs. You can do this with pretty much any ERP. You can expect any ERP system to integrate these basic functions. Knowing this will help you make your decision when you are considering what to expect.
ERP Functions That Differ
How we look at ERP functions is important when you want to know what to expect. We have told you that most ERP functions are standard. However, there are also new and different ERP systems that vary across industries, systems and vendors.
All ERP software generally includes a CRM function. However, not all ERP systems have an integrated CRM mobile app to help the business’ sales team track their customers. If you are looking for cost accounting then your ERP will be configured to include an ability to auto-allocate cost centers, product line reporting etc. These are just examples of how they can differ.
What To Look For?
An important part of all of this is considering what you should be looking for. It helps with knowing what to expect when you go out looking for ERP.
Ease of Use
You should be looking for a modern ERP system. Having a modern one is also important because that's easy for new users to get used to.
Organizational Fit
Having an organizational fit is crucial. This is because a vendor whose company culture fits with your own will be able to help you develop and modify the ERP as you see fit. It will also mean that repairs and modifications will be easy for you to do.
Direct Relationships
Another important thing to look for is that the best ERP vendors work with you directly. They don’t just pass off implementation and support to unknown-to-you third parties making the process easy.
Industry Knowledge
Having a piece of industry knowledge is also essential. You should always look for a vendor who knows your business and a product that reflects that knowledge.
Prismatic Technologies
Prismatic technologies provide the best and most seamless experience to our organization when it comes to ERP Software in Pakistan. Trust us with your business integration to grow and expand at a scale you could have never imagined before. Not only do we provide everything you need, but our customer service is also the best you will ever come across. Don’t let your business pay for your negligence, get all the information under one roof and be the change you wish to see in the world only with Prismatic.
