An ERP system is a type of business management software, typically a set of integrated applications that collect, store, manage, and interpret data from various areas of the business, including finance, human resources, product planning, manufacturing, service delivery, marketing and sales, inventory management, and more.
It is important to understand which features of an ERP system are standard features for all systems and to distinguish one ERP from another. Armed with this knowledge, you can eliminate superfluous questions from the RFI and RFP and focus on the issues and features that matter. In this article, we will look at typical ERP features in four different categories:
Standard ERP functions are very similar in most ERP systems
The basic modules of procurement, project management, project costing, costing, and quote management are often very similar. For example, most ERP systems have procurement capabilities that allow you to view procurement costs, view an overview of procurement information, manage purchase orders, and track costs. You can expect any ERP system to integrate essential features that enable you to understand every area of your entire organization
accountant
Itinerary arrangement
Buying requisition
Buy
Project cost accounting
Cost accounting
Quotation management
Project management
Material requirements planning