Types of ERP Modules  play a vital role in modern businesses, providing an integrated suite of applications that automate various back-office functions. The focus is primarily on financials, sales, and operations.

What Are ERP System Modules?

ERP modules form integral components within an ERP system. They are purposefully created to execute distinct operations as part of the overall ERP program, facilitating the provision of data and enabling employees to carry out their tasks with utmost efficiency. By incorporating all the modules into the ERP system, it transforms into a unified and reliable source of error-free data.

Types of ERP Modules

Finance Module in ERP

In essence, the Financial modules of an ERP system serve as a fundamental core, responsible for recording transactions in the general ledger accounts. Moreover, this crucial module generates financial statements intended for external reporting purposes.

Procurement

The procurement module, also referred to as the purchasing module, plays a crucial role in your business by facilitating the sourcing of essential items necessary for smooth operations. This module efficiently manages the process of ordering services and products by maintaining real-time records of vital order information. This information includes details such as the vendor’s identity, purchase quantities, specific items or services acquired, delivery timeframes, payment terms, and associated costs.

The procurement software is responsible for generating a purchase order, which is a financial document issued to vendors when procuring supplies or services. Typically, this purchase order can be automatically generated when inventory levels are running low, working seamlessly alongside an inventory management module.

Risk management

The risk management and compliance module leverages the power of artificial intelligence (AI) and machine learning to bolster financial controls, empowering finance teams to proactively prevent financial losses, conduct thorough audits, and safeguard against emerging risks. This cutting-edge technology not only saves valuable time by automating manual tasks but also enhances overall efficiency.

By integrating risk management capabilities, the module ensures compliance by automating critical processes like separation of duties (SoD) reporting and managing user access. This automation facilitates quicker identification of potential fraud, errors, and policy violations during audits. The module further streamlines workflows for audit, Sarbanes-Oxley Act (SOX) compliance, risk management, and business continuity planning, simplifying and expediting these crucial processes.

In summary, the risk management and compliance module with AI and machine learning empowers financial teams to maintain compliance, protect against risks, and optimize their operations with unprecedented levels of automation and precision.

Inventory Module

Inventory refers to the assortment of goods or raw materials that a company possesses at any given time.

This module is responsible for overseeing the following tasks:

• Procurement of raw materials from suppliers (purchasing).
• Managing the storage and organization of raw materials inventory.
• Monitoring and handling work-in-progress goods during various stages of production.
• Facilitating the shipping and delivery of finished goods to customers.

Warehouse Management

Warehouse management plays a crucial role in manufacturing organizations that handle substantial inventory and warehouse operations. This essential module facilitates seamless management of all warehouse processes, providing guidance to employees from the initial storage of goods to the subsequent stages of picking, packing, and shipping inventory.

Supply Chain Management

The supply chain management module is responsible for monitoring the entire supply and inventory movement process, encompassing interactions with sub-suppliers, suppliers, manufacturers, distributors, retailers, and consumers.

Customer Relationship Management (CRM)

The customer relationship management module is designed to store comprehensive information about both current customers and potential prospects that your organization is actively engaging with. This powerful tool allows you to monitor and manage the interactions and connections primarily between your sales team and the customers. By utilizing the CRM data, the goal is to enhance business relationships and foster growth, ultimately leading to improved profitability for your organization.

Marketing Automation

Within the realm of E-commerce, certain vendors offer marketing automation as an integrated component of their ERP system, enabling businesses to execute and oversee marketing campaigns across multiple digital channels, including social media, websites, emails, and SMS.

This marketing automation module streamlines the process of sending personalized emails and text messages to customers. Thanks to its sophisticated segmentation capability, the module ensures that customers receive tailored and pertinent messages, enhancing the overall effectiveness of marketing efforts.

Conclusion

Types of ERP Modules modules streamlines and simplifies business processes, promoting efficiency and effectiveness. Acting as a unified platform, ERP encompasses various advanced modules, enabling seamless handling of diverse functions and real-time business operations.

The beauty of ERP lies in its adaptability. Not every module is universally applicable to all companies, so you have the flexibility to select specific ones that align perfectly with your unique business requirements. This tailor-made approach ensures that you acquire the most suitable tools to drive your company’s success. With ERP, managing your business becomes a smooth and dynamic experience, empowering you to stay on top of your game.

Jabit Soft is a leading provider of comprehensive IT and development services, dedicated to empowering businesses through cutting-edge software development and digital solutions. With a global presence, we have completed 1500+ projects including some government projects that drive growth and innovation for your organization.