While most users are familiar with the basic ERP functions, such as financial management, inventory control, and production processes, there are features that often go unnoticed but have great potential.
Supplier Relationship Management (SRM)
Many are familiar with CRM (Customer Relationship Management), but SRM (Supplier Relationship Management) is often underestimated. ERP systems often offer SRM modules that help to collaborate efficiently with suppliers, automate procurement processes, evaluate supplier performance, and reduce costs. SRM allows better contract management, tracking of deliveries, and expense analysis, significantly enhancing the efficiency of the supply chain.
Project Management
Project management tools in ERP allow tracking progress, allocating resources, and managing budgets in real-time. This is especially useful for companies working on large projects with many participants and complex tasks. Such solutions help reduce resource and time costs, ensuring timely project completion.
Analytics and Business Intelligence (BI)
Analytics and Business Intelligence (BI) enable deep insights based on data from all company departments. This allows creating dynamic reports, analyzing trends, and making forecasts, helping to make more informed decisions. This is crucial for strategic planning and rapid response to market changes.
Human Resource Management (HRM)
Human Resource Management in ERP includes not only time tracking and payroll. Modern HRM modules include functions for recruiting, training, performance evaluation, and career development planning. This helps attract and retain talent, as well as increase employee motivation and productivity.
You can read the full article at the following link.
Enhance your business management with UGLA ERP.