Best Features of ERP Systems

Enterprise resource planning (ERP) is a system of integrated software applications that standardizes, streamlines, and integrates business processes across finance, human resources, procurement, distribution, and other departments. Typically, ERP systems operate on an integrated software platform using standard data definitions working on a single database.

ERP systems improve enterprise efficiency and effectiveness in several ways. By integrating financial information in a single system, ERP systems unify an organization’s financial reporting. They also incorporate order management, making order taking, manufacturing, inventory, accounting, and distribution a much simpler and less error-prone process.

Properly operating ERP systems enable enterprises to reduce the time required to complete virtually every business process. They also promote collaboration through shared data organized around standard data definitions, resulting in better decision-making. The standardization and simplification that ERP systems offer result in fewer rigid structures, thereby creating a more agile enterprise that can adapt quickly while increasing the potential for collaboration. An ERP systems centralized database, while being a bigger target, is more accessible to secure than data scattered across hundreds of systems.

Four key features of ERP systems

The scale, scope, and functionality of ERP systems vary widely. However, most ERP software features the following characteristics:

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