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I like how you asked about modern day ERP features, well again the usual answer would be it depends on the industry, but generally, apart from the core usual features of financial management and human resource management which I believe nearly all companies need, two more I believe are core, Customer Relationship management now this is usualy treated as an add on, but with nearly all companies using a CRM nowdays I think it should become a core integration module because every company needs to manage customers. The second is Business Intelligence, again a module treated as an add on, but with the future of Big Data nearing I believe for modern ERP's and modern companies this will become a core integration module to keep track of the company's future.
Other modules like Supplier Relationship Management, Production Management, Inventory Management, these are more specific to Manufacturing based industries not necessarily service based industries (though maybe for a service industry such as a hotel, these maybe required even).
Modern ERP software has many advanced characteristics and features that are nor prevalent in legacy or less progressive systems. Below are some of the most significant features to look for in next-generation ERP software.
· Collaboration both internally (data accessibility across departments and divisions), and externally (accessibility by suppliers and customers through self-service portals). Collaboration improves processes allowing businesses to benefit in a multitude of areas by bringing the entire organization, including external business partners closer together.
· Modern ERP must be designed to automatically push data to users. Using techniques such as data views to role-based screens, utilizing alerts and notifications and automating work flows to guide tasks, users will not only be kept up to date on current business statistics, but are also interacting with the ERP on a much higher level. With information prompts to the user in real-time, planning, decision making and efficiency will all improve. The risks of experiencing critical events such as stock-outs or production overruns are drastically reduced thus improving overall business operations.
· Modern ERP software enables your business data to be available anytime, anywhere for your mobile or remote users. Using secure Internet connectivity users can interact with ERP software using smartphones, tablets, and other devices.
· Modern ERP should empower users to create custom reports with less difficulty and through export capabilities to familiar tools like Microsoft Excel. In addition to report generation, modern ERP must provide better integration with business intelligence capabilities.
· Modern ERP must provide corporate wide visibility even to the most remote locations. It enables shorter consolidation and reporting cycles and benefits the organization as a whole with quick and smarter decision making.
· Incorporation of emerging business performance improvement technologies such as Remote Frequency Identification and picture and voice recognition.
ERP (Enterprise Resource Planning) is a misleading name for what is really - in its core - a form of "Application Integration" of
Keep in mind when talking about the functions/modules/features of ERP that this is an "operational level system" to be used in day-to-day operations of the business model and its processes. Do not mix this with other "planning systems", "decision support" systems, Other additional systems (supply chain management (SCM), customer relationship management (CRM) ... So let us keep our focus on ERP only while trying to answer your question
Another aspect of ERP systems is their implementation, their hosting in servers, their access, and their technical support.
Hopefully this answers your question !!
If you need more info, let me know !
Agree with :Themali silva
An enterprise resource planning (ERP) software package can dramatically improve the way a company runs its entire back office, enabling it to enhance planning, execution, management, and control of a wide range of critical processes. Most of the ERP software suites on the market today offer a wide variety of modules and applications that are designed to streamline and automate activities and tasks in virtually every back-office department, such as:
The manufacturing component of an ERP software package includes tools that enhance the entire end-to-end process of designing and building a product. It streamlines product design, engineering, and configuration; improves tracking and management of product parts; automates the scheduling of production activities; accelerates manufacturing; and improves quality assurance procedures. With ERP software and its manufacturing capabilities, businesses are empowered to create the best possible product in the most efficient and cost-effective manner.
An ERP software suite includes features to support improved inventory management, order management, purchasing and procurement, logistics, supply chain planning, return management, and incentive management, to help businesses more effectively coordinate and control their complex supply chain workflows and activities. With ERP software, companies can better manage all supply chain operations including the sourcing, acquisition, and storage of all raw materials, the scheduling and management of all work in process, and the warehousing and distribution of all finished goods.
With ERP software, businesses can improve the accuracy and accessibility of vital financial data, while streamlining and automating routine, repetitive accounting processes such as budget creation, allocation, and management; cash flow analysis; accounts payable and receivable; management of capital equipment and other assets; performance management; and financial reporting.
The financial applications within most popular ERP software packages include functionality for general ledger, cash management, accounts payable and receivable, budget management, and fixed asset management.
Features for costing, billing and invoicing, time and expense tracking, resource allocation, and activity monitoring make it easier for project-based businesses to successfully initiate, plan, schedule, and execute their most important projects. ERP software, and its project management applications, deliver integrated management, communication, and control tools that facilitate more strategic project planning and more successful completion of all related tasks and activities.
ERP software includes human capital management or human resources functionality that automates and enhances the entire employee lifecycle. With features to support hiring and staffing, payroll management, training and education, time and attendance tracking, performance and compensation management, and benefits administration, ERP software systems provide all the tools a company needs to minimize the administrative burden placed on HR teams. They also enable HR staff to more effectively manage their workforce, and help each and every employee reach their full potential.
Additionally, a data warehouse or an operational data store is commonly used with an ERP software solution for reporting and decision support purposes. This prevents the generation of reports and data analysis from negatively impacting the transactional database, and helps avoid performance issues in the production environment.
Gel with business processes, cover all areas of business, easy to handle, scalable to meet business dynamics, User friendly , Cost effective.
1- The gap analysis
2- Determine bench mark
3- Custimization
4- Test
5- Production
m not expert on this subject , so will go with sallam bro and iqbal sahib.
Sales and Distribution
Manufacturing
Supplier and Purchase Order Management
Inventory & Material Management
Total Quality Management
Plant Maintenance
Financial
Human Resource Management
I fully agrr with all answers been added.
