ERP Reporting: Top 8 Features To Consider For Your System

The competitive marketplace is continuously changing with the introduction of new technology. Businesses need to quickly adapt to circumstances to make faster and more efficient decisions. To help your business, the best ERP software in Kolkata is here to provide the right solutions. Read more to learn about the features of ERP software.

Implementation of ERP has reportedly observed improvement in 95% of business processes. It can help your business by providing useful insights to your business, reducing overall costs and time taken by the entire process.

ERP software automates financial and operational tasks and gives a detailed visual representation of your business’s data, reducing the manual effort needed for all these integral tasks.

So, if you want to understand the features of ERP for production business, continue reading this blog to learn how the best ERP software in India can help your business prosper.  

​ Recommended: 18 Benefits Of Cloud ERP System: A Revolutionary For Productivity

Top 8 ERP Reporting Features You Should Know

ERP reporting assists your business by real-time reporting of data, service analytics, and customisation of dashboards along with a variety of business tools. It measures your company’s performance and analyses the finances accurately. Is your business considering ERP for manufacturing industry? It has been reported that the manufacturing industry is the No. 1 user of ERP software. ERP software helps ensure the smoother process of your business operations. To help guide your decision, here are the top 8 ERP reporting features:

 

1. Real-Time Data Reporting

With an ERP system, you will have access to real-time data. It helps in observing all business operations, such that you can cultivate better strategies and decisions based on all the information available. The reports enable your business to identify trends and patterns that help in enhancing your business’s overall output.

Apart from this, an ERP reporting system can schedule reposts which are delivered to your inbox on a timely basis. This helps in increasing your focus on other essential tasks of the business, which in turn boosts the productivity of you and your other employees.

2. Customizable Dashboards

Customizable dashboards allow your business to see information that can be curated for specific departments or tasks. It allows you to access information that is necessary to your set goals.

Every department in your business has different needs when it comes to making reports. To keep track of metrics and KPIs of various departments, having a customizable dashboard helps with accessing all the information with ease. This ensures productive workflows and reduces the time spent searching for relevant information.

3. Advanced Data Analytics, AI, and BI Integration

AI-driven analytics can provide predictive insights, helping companies foresee market trends, customer behaviour, and operational inefficiencies. This helps in speeding up all business operations, reducing the time taken for the completion of a multitude of tasks within your business.

Does your business deal with the slow, last-minute deliverance of operation tasks that slows down your business? That might be a sign for your business to include ERP systems in your company systems. AI tools can speed up tasks in finance and operations which decreases the time required for other operations in your business.

Business intelligence is the process of using technology to analyse and present data in a way that helps managers, executives, and other end users make better business choices. Business intelligence tools within an ERP system can be utilised to generate custom reports, dashboards, and detailed visual reports to create strategies for boosting sales.

Moreover, BI can improve customer experience and predictive analytics with personalised customer interactions and improve response timing. There are many benefits of BI within ERP reporting, increasing the scalability of your business.

4. Interactive Visual Reporting and Interactive Features

It is difficult to interpret data when the details are not visually represented within a report. With this feature, ERP software creates interactive visualisations of your reports, so that your employees face no issues when identifying essential patterns and key trends. Examples include charts, graphs, heatmaps, and infographics. With a click of a button, your employees can dig deeper into the deeper.

 With your database all in one place accompanied by interactive visualised reports, you and your employees can save a lot of time and effort and focus on other essential tasks, boosting productivity. 

5. Automated Reporting and Scheduling

To ensure your business saves time by not involving themselves manually in tasks that are repetitive, ERP helps by automating such business tasks. Automation of tasks like processing orders, invoicing, and payrolls helps with reducing possible errors and time taken in manual data entry, further helping employees to focus on tasks that are more value-added. Moreover, the automation of these tasks means that there are no errors and there will be an increase in efficiency of all business processes.

6. Cloud-Based Reporting

Cloud-based reporting helps your business to generate, and share reports via cloud-hosted ERP software. Cloud-based ERP software stores data on remote servers, helping your employees to access their reports from any location and device, as long as they have an internet connection.

Cloud-based reporting gives your business several advantages due to its accessibility and robust security. It’s also cost-effective as there is no need to recruit additional IT employees or build dedicated infrastructure for this purpose.

Moreover, if your business is upscaling across different departments, cloud ERPs immediately adapt to your business, allowing your company to grow without any interruptions.  For example: in a manufacturing company, the ERP software might include a production and inventory tracking template that automatically pulls data from the warehouse and production lines, saving the operations manager the task of compiling data manually.

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7. Pre-Built Templates

Prebuilt templates in ERP systems are ready-made, standardised reporting formats designed to meet the needs of different departments within a business. These templates are customizable but come pre-configured with the most fields, data points, and calculations required for specific reports. This ensures faster report generation and consistency across all departments in the company.

8. Robust Security and Role-Based Access Control

Presently, data privacy and security are top priorities for business. Cyber threats have been increasing every day, risking companies to incur unexpected losses. ERP software ensures all your business’s data are safe and secure, with access only to authorised individuals. The sensitive information of your business won’t be at risk of cyber threats.

Conclusion

ERP software helps your business to make faster and smarter decisions. It gives your company a detailed and accurate insight into the business operations. With features like real-time data, advanced analytics, and robust security, the business can function smoothly without any roadblocks. Moreover, your business can focus on the development of better services and products for your customers.

By choosing the best ERP system in India, you’ll ensure that your business can stay ahead of the curve within the business landscape.