ERP and its modules
Enterprise Resource Planning (ERP) is a system of integrated applications designed to manage business operations.
It helps automate business operations in technology, services, and human resources to give a better experience in cross-functional department communication.
Take a look at some basic ERP software solutions modules -
1- Human Resource
3- Sales & Marketing
5- Finance & Accounting
6- Customer Relationship Management(CRM)
7- Engineering/ Production
8- Supply Chain Management (SCM)
Human Resource Module(HR):
It helps optimize the recruitment process to minimize workload. An organization can forecast or analyze human resource costs by integrating relevant information. It gathers information from various departments to predict future human resource needs and plans training schedules for employees. Many HR modules come integrated with payroll management
ERP Inventory Modules are designed to automate highly complex inventory and sales order processes. Inventory is one of the most significant investments by an organization, so it is vital to manage it effectively.
Sales & Marketing
Sales and marketing ERP modules help to store essential sales data, such as customer inquiries, quotations, orders, and invoices. It can track marketing campaign data and measure client engagement, email campaign success rate, and search engine optimization statistics. This enables organizations to invest in marketing initiatives that will pay off well in the long run.
The Purchasing ERP Module is one of the most requested modules that allow companies to handle the procurement of raw materials. The purchase module works in integration with the inventory and supply chain management module which helps to ensure that the entire data related to movement and purchase of inventory is centralized and accessible to all departments. The purchasing ERP module will reduce duplication of data and notify the timely availability of raw materials.
Finance is one of the essential ERP system modules. It helps to manage all the cash inflows and outflows and assists in other accounting features such as ledger management, bank reconciliation, etc. Another essential function of the financial management modules is to handle taxation and maintain compliance with current government regulations. Also, this module enables the management to quickly access critical financial statistics to get an overview of the company’s financial status.
Customer Relationship Management
CRM module is one of the most widely subscribed to among ERP system modules. The principal objective of the CRM module is to increase sales performance by providing customer support as well as a holistic experience to clients. CRM modules are a great support to organizations and enable team members to give quality service to customers. It allows sales or marketing professionals to develop a better relationship with clients by giving them personalized attention.
This module plays an important role for manufacturers. Engineering is where bills of material are recorded for use in production. It ensures the ERP matches the documentation system and formally accepted drawings and other specifications. It allows operations to meet customer expectations and any other compliance requirements.
Supply Chain Management
One of the most popular ERP system modules, supply chain management, helps an organization to handle the entire flow of materials from the manufacturer to retailer and then the final customer. It ensures there is enough inventory stock to avoid shortage during the production process. Supply Chain Management ERP module helps to streamline all the major activities involved in the supply, transportation, and distribution of raw material and finished goods.
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