SAP Enterprise Resource Planning (ERP) software combines functional modules or components, each representing a business function like sales, human resources, materials management, etc. As expected, the SAP ERP can seamlessly integrate business functions into a unified system.
What’s unique about SAP ERP is that enterprises can choose the modules they want to implement depending on their industry and business needs. For example, a financial service company can include accounting and financial budgeting modules.
Here’s a look at some of the top features of SAP Enterprise Resource Planning software:
Feature#1 – Accounting & Finance
SAP ERP’s financial module is the backbone of all finance-related activities in any company. Some of its key capabilities include managing:
- General ledger
- Accounts payable and receivable
- Fixed and variable assets
- Financial analysis
SAP ERP simplifies financial management by providing the necessary tools for managing accounts payables and receivables, business expenses, and tax liabilities. With real-time insights into financial data, companies can make more informed financial decisions while complying with financial regulations. This feature also provides visibility into the organization’s financial health and forecasts.
Feature#2 – Human Resource Management (HRM)
With SAP ERP’s HRM feature, enterprises can manage every aspect of their human resources, including employee benefits, payrolls, leaves, and workforce training. The HRM module is useful across the entire employee lifecycle—from recruitment, onboarding, and performance management until the end of their service tenure.
The HRM feature also serves a vital role in workforce development and training. For instance, it can support enterprises to monitor their workforce skills and competencies and formulate training requirements accordingly. SAP HRM is also integrated with SAP’s financial module to manage payroll processing on time seamlessly.
Feature#3 – Sales Management
SAP ERP automates various sales processes with its sales management module, including customer invoicing, quote management, sales analytics, and order management.
Here’s how SAP ERP’s sales module provides sales teams with the right set of capabilities:
- Real-time access to sales dashboards and recommendations to motivate sales teams.
- Data-driven insights that align sales priorities with business objectives.
- Effective sales planning and demand forecasts.
Through integration with SAP ERP’s inventory module, the sales management module enables sales representatives to estimate customers’ order fulfillment and delivery dates accurately. Additionally, this module streamlines customer interactions through various mediums, thus ensuring their satisfaction.
Feature#4 – Customer Relationship Management (CRM)
With its CRM feature, SAP ERP integrates customer service with sales and marketing functions. This module provides real-time customer insights through their brand interactions and feedback. Even better, SAP ERP can now integrate customer data from different touchpoints and share this data across departments and functions. This allows every customer-facing team to understand better and address their concerns and issues. For example, customer service teams now have a 360-degree view of every customer record, which enables them to personalize the entire experience.
Effectively, SAP ERP provides real-time visibility into customer information, which is necessary to elevate the customer experience.
Feature#5 – Inventory Management
Companies in the manufacturing and distribution sector can leverage SAP ERP’s inventory management feature to streamline their warehouse and inventory levels. With this feature, companies ensure optimum raw and finished product stock levels to fulfill the present demand.
Through demand forecasting and planning, warehouses can accurately forecast the market demand and be prepared with the right volume of inventory. Thus, SAP ERP enables them to reduce their inventory costs and wastage (in the case of perishable goods). They can also optimize their supply chain operations to meet inventory and sap erp pricing demands.
Feature#6 – Business Intelligence (BI) & Analytics
Among the advanced features of SAP ERP, this refers to all the BI tools that allow enterprises to collect, analyze, and extract business insights from various data sources. This feature empowers companies to gain real-time insights into their business operations and make powerful decisions.
For example, by using SAP Business Objects, companies can perform data analytics and visualization. Similarly, SAP Analytics is a cloud-powered analytics platform suitable for BI and predictive analytics.
Conclusion
As a comprehensive ERP solution, SAP can transform business operations with its powerful features.
As an experienced solution provider in SAP ERP solutions, Praxis Info Solutionscan help you integrate your business functions and address your requirements with their customized ERP solutions. Over the past 13+ years, Praxis has successfully implemented over 15 customized ERP solutions across industry domains, including manufacturing, retail, distribution, and real estate. Are you looking for a reliable company to partner with in your next ERP project? We can be the right partner. Contact us today.