ERP is a software which has features to integrate the functioning of all the departments.ERP stands for Enterprise Resources Planning, simply put, plan for enterprises resources to maximise benefits for the organisation.If that sounds very theoretical, for a hands-on top manager, it means:
- Controlled delegation – very specific tasks can be assigned to sub-ordinates with appropriate checks and automated reporting
- Link processes across different departments
- Making right information available to right person at the right time
Essential features of ERP
- Should be able to support multiple legal entities & multiple business divisions which may be located at different geographical location. Consolidated reporting should also be supported.
- Multiple Accounting Years should be seamlessly supported
- Functionalities of all organisation departments should be integrated, for example:
- Sales
- Procurement
- Manufacturing
- Process Control
- HR & Payroll
- Fixed Assets Accounting
- Secondary & Tertiary Sales
- etc.
- Should have features to configure (not requiring customisation) to implement organisation policies.