ERP is a complete software package of different modules consisting of features right from the lead entries to the delivery of the products and its customer reviews. But not all of these are required for every industry as each differ in their operations. Let’s see what are the common ERP modules that a company should have.
In general, an ERP can have an “N” number of features and functionalities. Depending upon the industry types and nature of the business, It can be customized based on the specific requirements of an organization. Apart from all these differences, there are a few common functionalities that any organization as a business would need the most.
Sales and Marketing :
This module has all features to keep track of new leads, customer details, visit reports, sales target comparison, and all other information. Using this function, a marketing person need not worry about missing any appointments or follow-ups. And once the order is confirmed you can generate sales orders, raise invoices and make a record of product delivery details as well as customer reviews.
Planning and Production :
The planning module is a great help for manufacturing industries, to estimate the cost, time, and production capacity once you receive the order. Using the existing information on stock items and machine calendar details you can very well plan the operations with all precautions. The production module gives you the complete ongoing production status of various processes, the machine idle time details, and the pending process information. This can help in forecasting future requirements and estimating profits.
Purchase and Stores :
Any manufacturing industry must have this module which gives complete information regarding the raw materials available, the minimum and maximum stock maintenance, reminders for stock-out details, and much more. It also provides a clear view of the arrangements of stock materials in store. With all this timely information on inventory details, the company can prevent any last-minute hassles.
The cash flow happens inside an organization at all levels and departments. So it is essential to maintain all transaction details in ledger management. It also helps the organization handle taxation as per government regulations. Hence using this module you can get an overview of the company’s financial status and maintain stability to face future requirements as well as to eliminate unnecessary expenditures.
Human Resource Management :
The Human Resource Management (HRMS) keeps a record of complete employee details and performance metrics. You can generate payroll and also maintain employees’ attendance records. It makes sure that proper training has been given to each individual on all aspects to help them grow in their career as a mutual development for the company as well. With this, you can build employee key result areas to maximize employee performance, thereby gaining a competitive advantage and growth of the business. Not only employee performance but you can also maintain a strong relationship and culture between workers and the company.