03 Dec What Are the Types of ERP Modules?
What are the different types of ERP modules?
- Financial Management
- Customer Relationship Management
- Warehouse Management
- Human Resource
- Ecommerce
An Enterprise Resource Planning software or program is designed to centralize the many operations that take place in a business. Businesses that invest in ERP are generally far more efficient and productive because they’re provided with integrated access to data. This also gives them an all-around and automated visibility of what happens in every department of the organization, made possible by the different types of ERP modules.
In computing, a module simply refers to a sub-component or part of a software/program that will function only when they have been successfully integrated into the software. In Enterprise Resource Planning, ERP modules are usually provided separately by the vendor.
For example, if you belong to the logistics industry, you’d likely purchase an ERP program that has capabilities like supply chain management and inventory management. These modules may not necessarily arrive in a single package, which is why you have to buy them separately.
The purpose of the ERP modules is to tailor-fit the primary functions of ERP for virtually any kind of business that invests in this integrating system. From financial management, human resources, to CRM, listed below are just some of the various ERP modules that you’ll encounter. Read on to learn more.
Financial Management
Because we live in a modern age, every business is expected to automate their processes. You’ll rarely find an organization that still relies on manual techniques for their accounting and bookkeeping functions. After all, these are far more prone to errors and aren’t really reliable.
These are just some of the issues that a financial management ERP module seeks to address. This tool comes in a user-friendly interface that can be easily accessed by authorized personnel in your organization. Whenever they may need to bring up relevant info on financial matters, data, and statistics, the tool gives them a seamless method of accessing it, while at the same time providing analytics and actionable data.
With a financial management ERP module, you can produce highly-detailed reports based on your accounting and finances. Due to the automated system, each report is guaranteed to be accurate — there is less room for data entry mistakes, redundancies, and duplicates.
Customer Relationship Management
ERP modules like Customer Relationship Management (CRM) are designed to improve the way customer information is stored and handled by your business. Sometimes, the products and services offered by your business are only as good as the quality of customer service that you offer.
Knowing this, a CRM module improves the way relationships are fostered between your business and the customers. This is done by giving you the capabilities to store customer information in a convenient tool without having to scramble resources just to process a request.
More than that, a CRM also enables your business to collect data that can allow you to better predict consumer habits, preferences, as well as, view order history, payments, and the like.
Warehouse Management
Warehouse management is important for any organization that wants to improve the way inventory is stored, tracked, and organized. Many ERP warehouse management modules to-date are usually implemented in order to automate and centralize this aspect of warehousing.
With a warehouse management module, it’s easier for storage optimization and efficiency to improve. This is because the business is provided with a 360°-view of warehouse processes. Investing in this kind of module helps warehouses minimize returns, improve tracking, eliminate obsolete inventory, lower expenses, and subsequently improve relationships with their customers.
Human Resource
A business’s human resource department is essential for scaling and development. This department is responsible for a range of functions, like managing human capital, finding prospects, ensuring that the business complies with regulations, as well as, managing the day-to-day functioning of the company.
Oftentimes, human resource functions are segmented from one another. The lack of uniformity can cause confusion among other problems that may affect efficiency.
On the other hand, making use of an HR ERP module greatly reduces the level of inefficiency for HR personnel. Managing payroll, employee information, and drafting reports are far more convenient and reliable.
For example, HR personnel wouldn’t have to manually approach someone from the company just to get the information they need. This ERP module makes this task much faster by having all the available data displayed on a dashboard that anyone from the HR department can access.
Ecommerce
There are also ERP modules that are designed for eCommerce businesses. While the main benefit is the increased visibility that it provides, it also improves functionality as it centralizes the information.
The eCommerce industry is a fast-paced one and a single platform can garner more than thousands of customer traffic on a daily basis. What the module does to help eCommerce businesses cope is to seamlessly combine workflows and facilitate information collaboration in a hassle-free manner.
Likewise, the module also grows as the eCommerce business grows. Your ERP software is designed to handle scalability. This means that your businesses will stay supported by the integrating software without a lag in performance.
Key Takeaway
In this list, you’ve encountered the different types of ERP modules such as financial management, CRM, human resource, warehouse management, and eCommerce. Each of these modules is designed to work together in a single ERP platform that has far-reaching effects on improving the productivity of your business.
Investing in ERP systems is vital if you want your business to continue scaling and moving forward, while still retaining a good level of efficiency.
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