Characteristics Of A Good ERP System

Are you in search of an ERP system that will help you integrate and manage all business operations throughout the organization? If yes, then you should choose only the best ERP system for your business, and for that, you must ensure the ERP has certain features or characteristics in it.

Introduction:

Selecting the right ERP system is a challenging and complex endeavor and there does not exist any one-size-fits-all solution. There is only one tool that is perfect to meet your specific needs and you must select only that tool. Hence, you might take suggestions from your fellow business owners, and see reviews online, but in the end, you have to make sure if it is good for you or not.

There are lots of ERP Software in the UAE market. All are good ERPs and have their own capabilities. But what you should focus on is the differences between these products and balance them with your needs.

Given are some of the characteristics of a good ERP System. Considering these will help you make a better business decision.

Maturity of a solution

Are you willing to associate with vendors or manufacturers who do not guarantee the quality and sustainability of the product? Many new businesses and vendors have entered the market in the past few years. They wish to leverage the increased market trend of digital transformation. But not all of these vendors or their products are built for longevity.

Leaders of the ERP industry like StackFX ERP have decades of experience in the market and have been helping people streamline and automate business functions for years. Their solutions are credible and sustainable.

It is not just about their goodwill but about their robust infrastructure system too. Their products and services are backed by strong infrastructure and experience years of successful product implementations and customer satisfaction.

Flexibility and scalability

Accepting a new system must address existing business requirements while helping you get ready for the future. Are you anticipating future growth within your company or wish to expand and partner with multiple entities or hire and purchase international capabilities?

It is a fact that as the market changes and your business innovates and develops, your ERP solution should be able to accommodate all this.

Increases in the number of entities and number of users & transactions create difficulties for on-premise solutions.  Such solutions require expensive modifications down the line. On the other hand, having a flexible and scalable solution helps companies to focus their core business operations rather than on adapting their IT system to their changing needs.

Facility to third-party integration

Integration expands the functionality of your ERP software by seamlessly connecting your existing system with other best-of-breed solutions. However, the portfolio of integrations available varies greatly from one ERP to the next.

Product enhancements and developments

As technology is advancing rapidly, you must rely on a product that can upgrade itself as per the changing times, otherwise, that technology stands a risk of becoming outdated.

Choosing an ERP vendor who is committed to innovation with a product roadmap makes sure you get the best ROI. This not only increases your business but also gives you the advantage of extra features.

Best Business Practices

Each business activity has to comply with lots of norms and standards. For example, accounting complies with IFRS, quality management complies with ISO 9000, and so on. So, your ERP system should follow the rules with all standards.

Comprehensive

The ideal ERP system should be modern and use a comprehensive approach. It means, all the business functions should be covered in the ERP software. If the ERP is going to be of use to perform only a few tasks and the rest you have to do manually, then, this ERP system is not for you.

Multi-Facilities

An ideal ERP System must offer multi-facilities. It means, the ERP should accept and process multiple currencies, multi-mode manufacturing, and run on multiple platforms.

Optimize the data

You must choose an ERP system that can optimize the data for efficient use of business resources. An ERP system should be able to process different types of data and be effective in providing a company with up-to-date information.

Strategic planning

It is the main and top function of every business. And it must be done through ERP for better results. ERP ought to integrate all its sub-systems for making better strategic planning.

Project Management 

Last but not least is the project management capability of your ERP. An ERP system is an integrated software application that helps companies manage every aspect of their operations, which includes projects, customers, operations, and accounting.