As the name suggests, ERP (Enterprise Resources Planning) is a compact software, used for managing the resources of the enterprises at one go. Starting from materials purchases and inventory management to employee management, everything falls under the control and supervision of an ERP system. It is a kind of cross-functional software that helps enterprises in all their core processes. To put simply, ERP helps the disparate departments or functions to integrate into a common application, making it easier for the organisations to manage. Management executives of businesses can also take all major decisions in the real-time by screening the data or information available on the software. This is possible owing to the separate modules of the ERP software that are integrated with the different functional area within the business. Each module interacts with each other to provide information about any department or process in the business anytime. Thus, take a look here at some of the major modules included in an ERP software.
Core sales process in a business includes sales enquiry, quotation drafting, enquiry handling, drafting of sale invoices, dispatch/shipment of materials, quotation drafting, tracking of sales order and so forth. ERP module of sales helps in managing all these processes all at once. Apart from sales order processing, the module comprises of contact management and altogether, it helps in uplifting the sales services and effectiveness of marketing methodologies. In short, the ERP’s sales and marketing module make customer order management effortlessly easy and quicker.
Inventory Management module
This module assists in storing of all the data related to the inventory department. The processes of the inventory department include receipt and delivery of goods, stock maintenance, materials classification and materials issue to production departments. The inventory module makes sure that businesses do not experience any complexities in seamlessly managing their inventory control.
This module of ERP software aids in the procurement of raw materials needed in the production. It automates the processes involved in purchasing which include identification of potential suppliers, prices negotiation, finalising the purchase order to the supplier, billing and so on. For these, the purchase module needs to be integrated with other modules including production planning, inventory and supply chain management modules for better results.
Finance and Accounting module
For businesses enterprises deploying ERP, both the inflow and outflow of capital are managed by its Finance and Accounting module. It keeps track of essential transactions related to accounts, such as expenditures, budgeting, payment receipts, account ledgers, bank statements, etc. Financial reporting becomes an extremely easy task with ERP and all the financial data, required in the meantime for running the business is readily available from the module.
This module effortlessly streamline the task of human resources management with three broad counterparts systems namely, Training, Recruitment, Attendance and Payroll. Thus, the HR module of the ERP maintains a complete database of the employees including contact details, attendance to performance progress, leaves and salary.
Today, when every small and large enterprise is facing multiple challenges in automating their processes, ERP system along with its modules came a great resort to their difficulties. Businesses can choose from the above-mentioned modules as per their requirements and streamline their complex process to improve efficiency overnight.