What Are the 5 Most Important ERP Modules?
Enterprise resource planning is vital for all businesses. It automates your operational activities, thus making your business processes easier. What’s more? ERP systems can handle and analyze the relevant data for your company and reduce human error.
There are different enterprise resource planning modules. Therefore, you must set up and use all the vital modules to run an efficient business. If you neglect an essential ERP module, your business will suffer in that area.
This article reveals the five most important ERP modules you must have to prevent this from happening. Let’s begin.
What Are ERP Modules?
Enterprise resource planning modules are different tools in a larger ERP system. They’re responsible for separate departments and have unique features. Essentially, modules in an ERP landscape are the means through which the entire ERP system functions effectively.
ERP modules are usually classified based on their functionalities. For example, accounting modules will fix all your finance and accounting needs. Thus, you must ensure your ERP software vendor provides all the necessary modules.
Top 5 Most Important ERP Modules
So, if you want to pick ERP modules for your business today, which ones must you get? Let’s find out!
Finance and Accounting Modules
Finance and accounting ERP modules automate all the financial processes in your business. These are important ERP solutions because finance is the foundation of every successful enterprise. Money moves in and out of every venture.
So, financial management ERP modules will ensure that you properly handle your accounting needs. Notably, this ERP module will include the following:
Income and expenses accounts
Records of assets and liabilities
Security systems to secure transactions
Supply Chain Management Modules
Supply chain management is one of the most challenging aspects of running a business. This is because several things, people, and processes are moving simultaneously. So, any mistake can significantly hurt your operations.
That’s why you need supply chain management software. This ERP module can help you track all your supplies through the supply chain. You’ll be able to monitor the following:
In addition, supply chain software will help you make accurate and reliable decisions. Supply chain management modules will cover areas such as:
Supply chain complaints
Inventory Management Modules
You must also have inventory management ERP modules. After purchasing all you need for your business, you must take inventory. Inventory management modules in an ERP landscape are important because every company must know how much stock they have.
But tracking your stock manually will expose you to errors. This is where ERP inventory software comes in. This module will track your purchases and their locations in your warehouses and maintain stock-keeping units (SKU).
You can even manage incoming inventory with this software. Now, suppose you don’t have supply chain management software. Then, you can use this module to handle purchase orders, sales orders, and shipping.
Human Resource Management Modules
Humans (employees) are the drivers of every business. They execute all your business promotion strategies. Therefore, human resource management software is vital for all businesses.
Essentially, HR software gathers employee data. Relevant pieces of information include:
Official and sick leaves, and
Work data, such as the number of customers the worker attracts to the company.
HR ERP modules collect large volumes of data. So, it would help if you chose software that prevents duplication of information. In addition, you must also look out for synchronization.
This is because you need to compare your employee data with other databases. For example, HR modules may interact with customers’ information to determine how much patronage a worker brings to your company.
Customer Relationship Management (CRM) Module
Customers keep you in business. If no one purchases your products, your enterprise will pack up. Therefore, customer relationship management software is vital for all companies.
CRM modules collect, store and analyze data on all customers and prospective clients. Relevant information would include all interactions between the customer and the company, such as:
Periods orders were made
Calls and emails from the client
Positive and negative reviews
All these data can help the company maintain excellent customer relationships. This is because the information shows know their likes and dislikes. In addition, you can specifically target clients with promotions they’re most likely to respond to.
Let’s Help You Get the Right ERP Modules!
Now you know the five most important ERP modules. You can now choose the best modules for your business. However, selecting and setting up modules in an ERP landscape can still be challenging.
So, comment with questions you may have on this subject. Our team will answer and help you figure out your ERP module issues.