Top 5 ERP Modules That Are Important For Your Business Growth

Published: 2021-08-11
Views: 313
Author: Contributor
Published in: Business

Enterprise resource planning is typically set around a single, well-defined data structure that has access to one common database.

Meaning of Enterprise Resource Planning (ERP)

Enterprise resource planning (ERP) is a type of software that helps an organization to effectively run its daily business activities. The function of ERP software includes:

• Accounting.
• Procurement.
• Project management.
• Risk management and compliance.
• Supply chain operations.

The ERP systems bring many multitudes of processes in business together. The software allows the flow of data between the different departments in an organization.

Big organizations share a lot of transactional data which is gotten from multiple sources. The ERP systems take away the challenge of data duplication and make the integrity of data.

Benefits of Using An ERP System

The ERP software increases efficiency and the productivity of the organization that is using it.

An ERP system can help an organization to:

• Effectively reduce the costs of using different tools in the business process. This is because the ERP system brings some of this process into a single unit.
• It speeds up the productivity of different units and departments.
• It brings in the automation of some of the business processes that are usually carried out by the workers.
• It helps the organization to effectively analyze data, make better decisions.

Top ERP Software for small business

#1. Sage Intacct Software

Sage Intacct is an ERP that provides is cloud base. It provides effective financial management and accounting for organizations.

The Sage Intacct's software is practically useful for small to midsize firms especially those in accounting.  It gives accurate and efficient financial reporting as well as operational insights into the business processes. Critical financial processes can be automated using Sage Intacct.

#2. NetSuite Software

The NetSuite software is an ERP that is used in business today. It is software that performs both the ERP function as well as CRM functions. Part of what it can be used for is in carrying out the financial system of the organization’s back office, sales, and services.

#3. JD Edwards EnterpriseOne Software

Oracle JD Edwards EnterpriseOne is a big player in the ERP software market. It is a cloud-based ERP system. It is also used as a supply chain management solution that helps the organization to manage many processes in their business. It serves both small, medium-sized, and very large organizations.

The primary features are

• Financial management.
• Project management.
• Asset lifecycle management.
• Order management.
• CRM.
• Manufacturing.
• Supply chain planning and logistics.
• Reporting and business intelligence.

#4. BQE Core Suite Software

BQE Core Legal is an ERP that is cloud-based. It is a solution that helps integrate the organization's accounting as well as time tracking, billing, and invoicing. It offers its solution to diverse industries and organizations.

In addition, the BQE Core Legal is easily accessed through any browser as well as devices that are fully functional such as the apps for iPhone and Android devices.

Top 5 ERP Modules

#1. Financial Management

ERP software modules for financial management are very useful for a speedy scaling of a company especially a company that needs to carry out resource planning.

You will be able to easily track the finances of an organization using the financial management module, as finance is the backbone of any it is very important to use this module to get the flow of money.

A good part of any sound accounting module is that it functions with all the departments within an organization to fast track the money entering and the money going out.

#2. Order Management

An ERP order management module helps to tracks the company’s orders from receipt to delivery. This module sends all orders to the warehouse, distribution center, or retail store when customers place orders. It also tracks the status of the order from preparation, packaging, and shipment to the customer. One good thing about the module is that it does not allow customer orders to get lost. It also helps with timely delivery rates of orders to the respective customers.

#3. Inventory Management

The basic thing about an inventory management tool is for you to know the stock you have at any time period. This is more than just getting data from analysis and customer order fulfillment. It is also important to know the space allocation for the expected inventory.

#4. Marketing Automation

Marketing automation is in the mainstream of today’s online marketing, especially for eCommerce. What a marketing module does is help an organization manage its marketing campaign through the host of different channels on the internet.

#5. Customer Relationship Management (CRM)

For the sales team to succeed in today’s market, a CRM is needed. It is the foundation of a company’s sales team's success. The ERP software also provides an option for companies to run their CRM.