Different ERP modules for your business management

ERP software systems like Odoo ERP come with a diverse range of modules to suit different business processes. And here is the list of the most common ERP modules almost every business needs for improved and efficient management.

ERP is a complete suite of all business management applications. An ERP software can streamline your business workflow, automate and manage all tedious tasks, collaborate all your business departments, store all data in a centralised and unified platform, help in real-time decision making, and do more. Also, an all-in-one integrated ERP as Odoo ERP comes with thousands of different modules that make the management of different business processes even simpler and more efficient. Right from inventory management to supply chain management, customer relationship management, sales and orders management, finance management, and human resource management, a modular ERP software can take care of all.

These modules can be implemented into a business system after customisation according to the business requirements and processes.

Here are the most common ERP modules summarised for you. Take a look.

ERP modules act as the add-ons to the base system. You can begin with implementing only the basic modules as per your requirements and then can gradually keep on adding more of them with your business growth. Most of the ERP systems can be fully customised, which make implementation after customisation possible.

Every ERP module focuses on specific functionality and benefit. And if you are planning to implement a modular ERP, you need to first find out what ERP modules are available in the ERP and which ones you will need for your business.

So, here are the few basic ones almost every business needs.

Financial management module:

The financial management module is one of the most essential ERP modules that every business would need. How can a business run without finances and financial processes? Because finances are actually the backbone of every business and an efficient financial management tool can be beneficial for businesses regardless of the business size. Right from entering the data to managing the financial calculations, this module can automate and perform all. And the best thing is that the financial management module ensures automatic and error-free data entry and calculations, cutting down all human efforts and saving more time.

Supply chain management module:

Supply chain management is defined as the management of services and the flow of the goods. This process involves the storage, usage, and movement of the raw materials, inventories, and finished goods as well. Managing these is essential especially in the manufacturing industry and this ERP module ensures the same. Supply chain management module automates and simplifies these supply chain tasks and processes. The module also ensures a smooth and streamlined process right from production to the completion of the manufactured product.

Inventory management module:

Having an eye always on the inventory is important for businesses especially those in the retail and manufacturing sectors. The inventory management module of an ERP enhances customer service, that potentially increases the inventory turns. This module also enables the replenishment of materials and products without any more investment in the inventory.

Human resource management module:

Human resources are found in almost every department in a business as human resources simply mean the employees. And this is one of the most crucial modules to have and implement. This ERP module consistently keeps on collecting data about the employees including their leaves, attendances, etc.

If you are running a large-scale business with hundreds or thousands of employees, then this module can make your human resource management easier. With a large number of employees, it is likely to face difficulties with managing and updating their data. Manually entering these data can also add to the risk of duplicate entries into the system. And all these issues can be eliminated with this ERP module in your business system.

Customer relationship management module:

With all data stored in a single and unified location and with easy access to these data, the customer relationship management module or the CRM module of an ERP helps businesses provide real-time support to the customers leading to more customer engagement, conversions, and leads.

Apart from these, there are dozens of more modules that you may find in power-packed ERP solutions like Odoo. Make a list of the modules you need and match them with the ones available in the ERP. This can help you to avoid the ones you do not really need for the time being and invest in the ones that will help you to boost your business efficiency.

Alex Forsyth is an expert Odoo ERP consultant associated with the most reliable ERP service provider in Australia, Envertis Software Solutions. The author has written this article to let you know more about ERP and the different modules it comes with for efficiently managing different business processes.

Alex Forsyth is one of the expert app developers in Sydney who is working for Envertis, an earmarked Australian company for mobile app development which has been delivering dynamic and revenue-centric apps to businesses.