28 Mar 2024
As businesses and organisations grow and evolve, so do their operational requirements. Keeping track of all the moving parts of a business can become a daunting task. This is where Enterprise Resource Planning (ERP) software comes in as a solution. But what exactly makes ERP systems tick? In this blog, we will examine which characteristics of ERP systems can facilitate business collaboration and open doors to a world of operational excellence.
Table of Content
Why Do Companies Often Choose ERP?
Businesses need an integrated ERP system that can efficiently handle and streamline various processes within the company because:
- Their existing systems don’t allow them to work out processes in a simple way, or at all. Their accounting software, for instance, is unable to connect with the company’s inventory tool or manage multi-entity accounting.
- As a business grows, it becomes vital to implement a system that minimises manual work so that team members may answer basic client inquiries individually in less time and more time responding to only the most complex complaints.
What Are the Key Characteristics of ERP Systems?
It is undeniable that ERP can offer a comprehensive suite of features that are important and necessary for businesses when they want to enhance their operational efficiency. Below are five main characteristics that make the software stand out. Let’s discover!
Integration
The primary, and maybe the most important characteristic of ERP system is integration. It allows companies to integrate all their business functions into one system, eliminating the need for multiple isolated systems. Even whether you’re integrating with third-party software, legacy systems, or custom-built platforms, for instance, Synergix ERP can provide a solid foundation for connectivity and interoperability. This integration ensures that essential financial, operational, and business data can be shared across the organisation in near-real-time.
Automation
One of the other vital characteristics of ERP systems is automation. It can help to automate repetitive business tasks, such as payroll, order processing, invoicing, reporting, and more. Automation minimises the time spent on manual data entry, reduces errors, and lets employees focus on more value-added tasks.
Customisation
Each business has its own unique procedures and needs. An ERP software should offer customisation options to cater to the specific needs of the organisation. ERP system can customise workflows, reports, and dashboards to tailor for their specific industry, operations, and goals. This allows firms to have maximum control over what your system has and provides, as certain off-the-shelf software may have features that you don’t need and not enough of the ones you do. Furthermore, customisable software allows you to scale your software according to your company’s changes to accommodate new demands and times.
Reporting
Better reporting is necessary for both executives and managers in the company. ERP can compile business operations information into reports such as charts, graphs, and dashboards. These reports empower managers to make informed decisions and identify problems before the business suffers. For instance, Synergix User-configurable Dashboard widgets are designed to elevate your user experience and provide you with powerful tools to drill in from summary to detail. It also helps monitor your figures or progress and alert or notify the tasks that require your actions based on your roles and responsibilities.
Security and Data Protection
With the integration of multiple business functions into one platform, data security becomes a significant concern. ERP system should have robust security features to protect sensitive business data from cyber threats, such as data breaches, phishing attacks, or ransomware. By implementing an ERP system with strong security features, businesses can safeguard their data and maintain the trust of their customers.
The above are some of the characteristics of ERP systems that businesses should take into consideration when planning its implementation. However, to choose a suitable ERP system, there are many other factors to consider. You can find more details in this blog: Choosing the Right ERP Software: A Comprehensive Guide for SMEs
Conclusion
To sum up, several essential characteristics of ERP systems drive business success. By embracing these main characteristics such as integration, automation, customisation, reporting, and security and data protection, businesses can unlock the full potential of ERP and gain a competitive edge more than ever.
Synergix Technologies offers top-tier ERP solutions, whether on-premises or cloud-based with more than 600 satisfied clients and 30,000 users. Additionally, Synergix Technologies is recognised as an IMDA pre-approved vendor, so eligible SMEs can secure funding of up to 50% for qualifying costs when opting for Synergix ERP software.
Don’t hesitate to contact us today to schedule a free demo!
