Understanding ERP Systems before Selecting and Implementing them |
Posted: April 22, 2018 |
Before you select and implement an ERP system, you need to understand the multiple components of the system. In addition, you need to have an idea about the system, its features and the deployment as well.
For example, before you install an Enterprise Project Management Solution, you need to explore different options. You need to understand each component carefully.
An ERP system in reality is a fusion of several integrated modules. ERP systems are used by companies for proper business organization, operations, and control. ERP systems are implemented to help employees of different divisions to work under one single database.
Before you select and implement ERP system for better business operation, you need to know that there are multiple components and modules of the system that enables you to either select some of them or all of them. If you don’t make the right selection, you might end up with lost time & effort and improper cost allocation.
So, here are five ERP components and modules that you should know about before the selection process.
Accounting
Are you looking for ERP system to take care of the accounting entries, transactions and reporting of your organization? If yes, you need to choose an Accounting module that enables you to handle those and the accounting database accurately. With the help of accounting module you will be able to centralize the data in one central database. Also, you will be able to use this module to generate in-depth analytics reports.
Payroll & HR
Are you looking for ERP system to take care of the payroll & HR system of your organization? If yes, this is another component of the ERP system that you need to focus on. This component helps companies to centralize their payroll & HR related data. By using this module, you will be able to track the man-hours spent on workplace or projects. Also, data generated from the implementation of this module will help you perform better employees’ audit.
Mapping success plan is another feature which you will acquire from payroll & HR module. If employees management is one of your main objectives, this is the module you should be looking for.
Purchasing and Procurement
ERP purchasing and procurement module helps in streamlining the entire procurement process. By using this module, you will be able to generate purchase order, receive suppliers’ bids, evaluate them and select the best bidder. This is extremely helpful in suppliers and vendors’ management.
Generating payment reports is one of the main features of this module. ERP purchasing and procurement module is designed to route the whole purchase cycle.
Business Intelligence
Data is the foundation of any successful business. That is why data management is an essential task which every business owner should pay attention to. ERP business intelligence solution is designed to collect, retrieve, analyze, transform and report data of different divisions of a business. It is also used to process this data and make use of it thorough simple and well-presented analytical reports.
To make your job easy, ERP vendors should make sure to offer you dashboards to manage and present the data. You will get predesigned and customized reports that make the task of reports generation easy. Additionally, you will be able to get the best in class guidelines and metrics by using this component.
Customer Relationship Management (CRM)
Customer Relationship Management (CRM) Solution gives you the luxury of getting customer information by analyzing customers behavior and their buying habits. This solution works like analytics in generating data. It generates data of customers’ interaction and helps in tracking these interactions as well. Additionally, this solution assists in automating the customer service system.
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