processes. Each organization’s needs & requirements are unique and the ERP system chosen should be able to cater to these requirements. With numerous options to choose from, it is vital to outline and document what is required from the system right at the beginning. Some of the key areas to be considered when choosing an ERP solution:
Finance & Accounting (Payables & Receivables): The goal of every business that invests in an ERP system is to gain greater control over their financial activities. The ERP system should allow for an integrated management interface resulting in higher levels of productivity, greater transparency and efficiency with the ability to explore and analyze data upon which faster, better decisions can be made.
Supply Chain Management: All successful businesses focus on streamlining their Supply Chain management, as it directly impacts profitability by optimizing inventory levels and controlling cash flow. An ERP system should help to optimize, refine & streamline the Supply Chain management functions across the organization.
Order Processing & Management: Managing customer orders and timely processing is essential for a business. An order processing module within an ERP system should help an organization better manage order entry, credit checking, shipping, sales analysis and reporting.
Human Resource Management & Payroll Processing: A robust HR & Payroll solution can improve the management of staff across the organization, proving to be a great benefit for any organization irrespective of its size. There are few ERP vendors that offer a complete solution as part of the ERP system.