Now just about any commercially available applicant tracking software is going to easily have the ability to keep track of resumes and cover letters. You don't really have to worry about making sure that your choice of software has that. There are other must-haves though that you may neglect to check for. Let uss take a look.
The first thing you need to look for is a requisition capability. Departments in your company need to be able to requisition talent. They need to be able to draft a great requisition for talent of a certain kind, and send it to HR. In fact, automated requisitions are a very important ability.
With this functionality, department managers will be able to automate the whole requisition process. The software will be able to identify positions and assignments that need new talent. Any applicant tracking software that that doesn't have this has to be an amateurish effort.
Once said requisition has been created and there are resumes from applicants coming in, your software needs to be able to screen those resumes automatically. It should be able to draft elimination questions, automatically, filter out applicants who don't meet the minimum requirements, and so on.
Managers at organizations everywhere have to keep wasting their time with recruitment metrics. They keep having to provide informativereports about what the cost per hire is or what the time to hire is and so on.
When you don't have software tools to calculate these things, they easily become too expensive to have. So basically, your software needs to be able to do this - create custom reports - automatically.
Whatever existing human resource information system you have, your applicant tracking software has to be able to fit right in. Sure, any HR software is going to be able to integrate any applicant tracking software. That's not really the point.
The point is that needs to be ready-to-integrate - ready to go. If it isn't designed for and tested with a particular system, give it a pass. The same goes for integration with the company's website.
And finally, do look for compliance-based reporting tools. The US, the poetic CCP is and very strict rules for employment practices. Your software needs to be able to provide the reasons why a qualified applicant hasn't been selected. It needs to be able to capture compliance data, create logs in audits and so on. Without this, again, it's just no use.