The Most Common ERP Features You Might Not Know About

Hi! I am Vira Bondarenko, a marketer for the Ukrainian software UGLA ERP. Today, I want to tell you about some of the lesser-known but very useful ERP system features that can significantly improve your business efficiency.

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.

Maintenance and Service Management (CMMS)

ERP systems with built-in modules for maintenance management (CMMS) help track equipment status, plan maintenance and repairs, and manage spare parts inventory. This ensures uninterrupted production processes and reduces repair costs.

Quality Management (QMS)

Quality management (QMS) modules in ERP allow companies to adhere to quality standards, conduct inspections, manage non-conformities, and implement measures to improve product and process quality. This is particularly important for manufacturing companies where quality control is a critical success factor.

Governance, Risk, and Compliance Management (GRC)

GRC (Governance, Risk, and Compliance) modules help companies comply with regulatory requirements, manage risks, and ensure corporate governance. They provide tools for conducting audits, monitoring processes, and managing company policies. This reduces the risk of legal violations and financial losses.

Global Office Management

Operating in the international market requires standards. Everything under a single brand must adhere to the same norms. ERP systems allow centralized management of offices located worldwide. This enables process streamlining, cost optimization, improved communication between offices, and efficient control and analysis of activities at a global level. ERP solutions operate in various currencies, languages (adapted to the legislation of different countries), and even consider the weather conditions of each country. This allows you to view all information in real time.

According to an ERP market study conducted by the analytical company Gartner, about 60% of companies use only the basic ERP system functions, such as financial accounting and inventory management. Only 40% of users actively utilize additional features, such as SRM, HRM, and BI modules. This indicates a significant potential for improving business efficiency by utilizing all the capabilities of ERP systems.

Conclusions

ERP systems, such as the Ukrainian UGLA ERP, offer much more than meets the eye. Utilizing lesser-known functions, such as SRM, project management, BI, HRM, CMMS, QMS, and GRC, can significantly improve your business’s efficiency and productivity. Implementing and actively using these features can become a competitive advantage, providing better management, process optimization, and cost reduction.