ERP Modules | Top 8 Modules of ERP System
Posted: Jan 02, 2021
ERP is simply known as Enterprise Resource Planning software which helps to support the business processes. It manages different functions of the organization at one place and an organization can make smart decisions on the basis of custom reports. ERP consist of various modules related to the functions of the organization. So that organizations can choose the module according to their needs and requirements.
Each ERP modules contains features related to different functions, for example, a marketing team needs to handle the sales order, bills, sales returns, offers, discounts, etc. They would have all the features related to marketing in their module.Let’s discuss all ERP Modules in a detail-Human Resource
This is basically made for human resource management but it connects every department or we can say each member of every department or collect data from multiple locations as well. HR involves many things from the entrance of the employee to retirement. ERP helps the HR team manage their task efficiently and make good decisions. Features involved in the HR module are tracking employees’ records like in-time out time, their performance, job description, recruitment, training, promotions, payroll, reports, administration, etc. all are managed by ERP.Inventory Management
It is very difficult to make a record of Inventory in the organization. It is important to know how much stock you have and how much you need every time. All the invoices related to stock need to be generated. Features involved in the Inventory module are inventory control, stock utilization, invoices, transportation, sales order of inventory, reports, etc.Supply Chain Management
SCM includes the flow of raw material to the manufacturer of finished goods from manufacturer to consumer. It’s very difficult to keep a record of every piece of good. It is important to track the process in real-time and ERP solves the problems of business. With the help of real-time data, the owner can check the delay in manufacturing and transportation and also find the reason for that. Features involved in SCM are demand & Supply management, sales return, replacement process, shipping, and transportation tracking.Sales & Marketing Module
The sales process includes many things start from the inquiry to the payment of the product. Marketing involves the branding of the product and services. Sales are the last step because it includes the delivery of goods but marketing is a never-ending process. Features involved in this module are Enquiry handling, sales orders, quotation management, order processing, order updation, tracking materials, payments, etc. Marketing features include campaign management and report generation from that campaign.Purchase Module
The purchase module includes all the activities related to the purchase of raw material. This module can be included in SCM and taken individually also. Purchase module includes some extra features which SCM cannot include so some organization prefers purchase module. Features involved in the purchase module are suppliers or vendors list, linking of the item to the supplier, sending quotation to vendors, receive quotations, purchase orders, tracking, a record of payment receipts, updation of material, report generation, etc. It can also integrate with inventory, manufacturing, or SCM module for better results.Manufacturing or Production Module
As go with the name, this module includes all the activities related to the converting of raw materials into finished products. This is not an easy job but requires lots of planning and management. ERP helps in making plans on the basis of reports, schedule machines and spare parts, use of raw materials, tracking the production daily, report generation and forecast the production in advance, enhance the proper utilization of machines, etc. It also tracks the inward of raw materials and outward of finished goods.Customer Relationship Management Module
CRM module basically helps in generating new leads to enhance sales and establishing better customer relations with the organization. It includes all the relevant data of the customer to build better relationships. CRM alone is a very big software that depends on the size of the organization and customer base. Features involved in CRM module are that it manages all the necessary information related to the customer, track the customer communication like calls, meetings, products purchased by them, duration of the purchase or service awaiting, distribute customer on the basis of location, interest, region, etc. reports generated from CRM helps in analyzing new trends and the improvement of marketing activities.Finance Module
The finance module includes the overall inflow and outflow of money. Finance is the most important part of any organization because money is the basic need of any organization. Features of finance module are that it records all the transactions made from any department be it HR or marketing, maintain balance sheet with the help of ledgers, maintain the bank statements, record all receipts, manage tax transactions, etc. these reports helps in analyzing the budget, profit or loss means the financial statement of the organization.
Not only these, but there are also many more modules are available in the market nowadays so that organizations can choose the one according to their requirements. All organizations do not need all the modules of ERP because they are very expensive too and also not reliable for the organizations. So organizations are shifting to Customized solutions. With the growing market, many new modules are going to add to the ERP Market. Organizations need to analyze their requirements and choose modules accordingly.
IP Media is a leading Custom ERP Development Company in Gurgaon which provides cloud-based ERP solutions. We do not end with the implementation of the software in the client end but support the organization with the proper functioning of the software till they use it. It helps in improving their operations, reduce their cost, improve their reporting and analysis.
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