Are you on the market for cloud-based ERP systems? There are many different systems on the market, but they don’t all offer the same features. Before you choose an ERP system, you need to make sure it has the features that meet your company’s immediate and long-term needs. With this in mind, here are 10 key features you should expect from cloud-based ERP systems.
1. Customer Management
Customer management is an essential feature for small businesses. It lets owners keep track of customer profiles and interactions. If you need to see a customer’s full history with your company, including their quotes and orders, this feature makes it possible.
2. Order Management
Order processing can become complicated as your business grows, so it’s important to choose an ERP system that offers an order management feature. This lets you finalize quotes, create orders, and update them if customers request any changes. It’s wise to choose a system that supports multi-location orders so the platform will scale with your growing company.
3. Catalog Management
If your small business sells a variety of products and/or services, a catalog management feature is essential. This feature helps you keep track of everything your business sells. This feature should let you create bundles of products and set customer-specific pricing. For efficiency, look for cloud-based ERP systems that can pull product information from manufacturers.
4. Pricing Management
Offering promotions and campaigns can make keeping track of your pricing very challenging, especially as you start offering more products or services. Cloud-based ERP systems should include a pricing management feature to help you track all pricing-related data. You can also use this feature to track offers like gift cards and coupons.
5. Inventory Management
Managing inventory on paper or on spreadsheets isn’t efficient, and the data isn’t always current. To update your data easily, you need an ERP system with an inventory management feature. This feature gives you real-time data about availability and stock levels across multiple locations.
6. Issue Management
Customer issues are a regular occurrence for any business, no matter how dedicated it is to customer service. Patrons will have complaints or questions, and you can’t let them fall through the cracks. An issue management feature lets you track customer issues and ensure those problems are resolved in a timely fashion.
7. Billing and Account Management
Cash flow management is essential for any small business, and the best way to have a healthy cash flow is to make sure your customers pay you quickly. This is why cloud-based ERP systems should havean account management feature. This allows you to track and manage your company’s invoices and payments, while email notifications remind your customers to pay on time.
8. Campaign Management
Marketing campaigns are essential for businesses, and that’s why cloud-based ERP systems should include a campaign management feature. It lets you create and control your company’s marketing efforts more intuitively. The feature also helps you track how well your various campaigns are performing.
9. Business Analytics
Business owners need good data about their companies to make informed decisions. Without access to the most up-to-date information, you can’t make strategic decisions. Cloud-based ERP systems should offer business analyticsso you can quickly and easily create the reports you need.
10. Self-Serve Portal for Customers
Customers don’t always want to call or email a business when they need help, so a self-serve portal is an important ERP feature. This also increases your business’s efficiency since customers can solve their own inquiries. With this feature, prospects can browse your catalog on their own and place orders when they’re ready. Customers can also view their past orders and make payments.