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Enterprise resource planning software (commonly known as ERP) integrates information from all corners of the enterprise into a system so that data can be shared in real time across departments. In this central location, streamlining and automation tasks can be accomplished without human assistance.

One of the main benefits of having an ERP system is its ability to break down business silos by sharing data in a central space, thus increasing communication and collaboration between companies. Now, let's take a detailed look at the modules that make up the ERP system.

What is an ERP module?

The ERP system contains modules, each focusing on one area of the business process, including finance and marketing, to name just a few. Each module has its own tool set and has its own unique purpose and function. When implementing ERP software for an enterprise, it is important to consider the types of modules the enterprise needs and to ensure that the vendor of your choice provides these modules.

Here are the five most common ERP modules that can be found in ERP systems, the functions of each module, and details of how to help your business.

Supply chain management

Supply chain management is the management of the flow of goods and services. It involves the transportation and storage of raw materials, ongoing inventory and finished goods. Managing these activities is an important business process that can be difficult to manage, which is why installing the appropriate modules can simplify this process.

With this module, enterprises can use their ERP system to make decisions based on the latest information. With the real-time visibility of the workshop, it is easier to prevent potential errors and ensure that the whole process goes smoothly from production to product completion.

Inventory management

It's important to get a bird's-eye view of your inventory, especially for manufacturing and retail. The inventory management module can enhance customer service, which makes it possible to increase inventory turnover.

Inventory management can supplement products and materials without increasing the enterprise's investment in inventory.

Accounting and financial management

A very important aspect of your business is finance, because it is the heartbeat of your business, so it is important to have effective modules to manage these finances. ERP centralizes information and workflow, and with the financial data in it, the enterprise will be able to manage the capital flow of the entire company.

Human resource management

Human resources are available in every department because it involves all the employees of the company. This alone makes it a very important module. The human resources management module constantly collects information about employees, including holidays. If your business is large, it may be difficult to maintain this information, and there is a risk of adding duplicate data to the system. All of this can be eliminated through modules dedicated to human resources in ERP software.

Customer relationship management

Because the human resources management module stores employee information, the next module focuses on customers. The customer relationship management (CRM) module helps enterprises manage customers (current customers and prospects), prospects and sales processes.

With the CRM module, companies can identify their key customers and position them as other sales opportunities, tracking customer communication with your business and target customers. It also helps to strengthen the relationship between the company and its customer base.

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