4 ERP features that a multi-entity company should seek for.pdf
1. 4 ERP features that a multi-entity
company should seek for
In this blog, we'll discuss four essential ERP features that can help multi-department
businesses streamline operations, improve collaboration, and realize increased
efficiency.
Integrated financial management: A robust ERP system for a multi-department
business should provide integrated financial management capabilities. This includes a
centralized financial dashboard that provides real-time insights into the financial health
of individual companies and the organization as a whole. Look for features such as
consolidated financial reporting, intercompany transaction processing, and automated
financial operations. Integrated financial management ensures accurate financial
transparency and compliance across all business areas.
Intercompany process integration: Seamlessly integrating processes across the
organization is critical for multi-functional organizations to eliminate silos and improve
collaboration. An ERP system should enable smooth communication and transaction
processing between different entities. Features such as automated intercompany
coordination, shared procurement processes, and centralized supplier management
contribute to efficient processes and improved synergies between business areas.
2. Role-based access control and security: Given the diversity of multi-departmental
organizations, ensuring data security and access control is paramount. Look for her ERP
systems that offer robust role-based access control and allow administrators to define
privileges based on roles and responsibilities. This feature ensures employees only have
access to information relevant to their role, protects sensitive data, and ensures
compliance with legal requirements.
Scalability and flexibility: Companies with multiple divisions are dynamic and may
experience growth, structural changes, or the addition of new business units. Your ERP
system must be scalable and flexible enough to seamlessly adapt to these changes. Look
for features that support easy configuration, scalability to accommodate additional
units, and the ability to customize workflows to fit each business unit's unique needs.
Axolon’s flexible ERP software UAE allows your technology infrastructure to evolve with
your business.