As enterprises strive for more efficient operations across the board, enterprise resource planning (ERP) software is an increasingly sought-after solution for improving processes at the business application level. ERP software unites disparate back-office applications, business processes, and workflows in a single platform. It can lead to new advantages like improved data sharing, increased data quality and accuracy, and administrative visibility.
Despite all of the benefits that can come from an ERP system, many enterprises make the mistake of selecting an ERP solution that fits poorly into their business model and goals. Learn not only the most basic features that your company should prioritize in an ERP platform but also some of the specialized features you should consider and the steps you should take to choose an ERP system for your business.
Basic features you need in an ERP solution
ERP solutions are designed to unite applications and processes across business use cases. In order to effectively drive visibility and performance for a variety of departmental workflows, ERP platforms should always include these basic features:
- Integrations with other enterprise applications, either natively or via APIs
- Automation and workflow management
- Data analytics and business intelligence (BI)
- Reporting and data visualization
- Administrative dashboards with real-time tracking
- Custom, granular user and administrative permissions
- Robust databases and data storage
- Compliance and policy management support