Here are some of the main features of ERP systems:

• Real-time operations: By using the latest in technological developments, ERP systems are able to provide the flow of real-time information across various ecosystems and departments, which thereby allow businesses to make data-driven decisions and manage performance - live.

• Enterprise-wide integration: Business processes are integrated across several departments and business units. For example, a new product queries product availability, starts a credit check, and also updates the distribution schedule.

• Consistent look and feel: The ERP software comes with a consistent user interface so that it reduces training costs and gives off a more professional look.

• Common database: A common database allows data to be defined once for the enterprise in every department using the same definition.

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Types of ERP Implementations

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• Cloud ERP: This is a type of ERP software that is hosted on a cloud platform instead of on-premises within an enterprise’s own data center.

• On-premises ERP: On-premise ERP solutions are locally installed on your company’s own hardware and servers, which is managed by your IT staff.

• Hybrid ERP: Hybrid ERP offers a combination of both cloud and on-premise solutions. The main takeaway is that a hybrid ERP solution can give you lower implementation costs than an on-premises solution while also giving you additional significant advantages with its cloud-based aspect.