Enterprise Resource Planning System(ERP), just by considering name we can simply define ERP as System or software that used to manage all the resources of the whole enterprise. Right from employee payments to a single screw coming into the enterprise, everything can be managed & tracked by using ERP Systems. ERP is a cross-functional software that supports all the business processes within the organization.
In an organization, ERP helps to manage business processes of various departments & functions through the centralized application. We can make all the major decisions by screening the information provided by ERP.
Human Resource module helps to HR team for efficient management of human resources. HR module helps to manage employee information, track employee records like performance reviews, designations, job descriptions, skill matrix, time & attendance tracking. One of the important submodules in the HR module is Payroll System which helps to manage salaries, payment reports etc. It can also include Travel Expenses & Reimbursement tracking. Employee Training tracking can also be managed by ERP.
Inventory module can be used to track the stock of items. Items can be identified by unique serial numbers. Using that unique numbers inventory system can keep track of item and trace its current location in the organization.
e.g. you have purchased 100 hard disks, so using inventory system you can track how many hard disks are installed, where they are installed, how many hard disks are remaining etc.
Inventory module includes functionalities like inventory control, master units, stock utilization reporting etc.
There is an integration between inventory module with the purchase module of ERP.
Sales and Marketing
Typical sales process includes processes like Sales queries & inquiry analysis & handling, quotation drafting, accepting sales orders, drafting sales invoices with proper taxation, dispatch/Shipment of material or service, tracking pending sales order. All these sales transactions are managed by the sales module of ERP. CRM module can take the help of the Sales module for future opportunity creation & lead generation.
As the name indicates, purchase modules take care of all the processes that are part of the procurement of items or raw materials that are required for the organization. Purchase module consists of functionalities like supplier/vendor listing, supplier & item linking, sending quotation request to vendors, receiving & recording quotations, analysis of quotations, preparing purchase orders, tracking the purchase items, preparing GRNs(Good Receipt Notes) & updating stocks & various reports. Purchase module is integrated with Inventory module & Engineering/production module for updating of stocks.
Finance and Accounting
Whole inflow & outflow of money/capital is managed by the finance module. This module keeps track of all account-related transactions like expenditures, Balance sheet, account ledgers, budgeting, bank statements, payment receipts, tax management etc. Financial reporting is an easy task for this module of ERP. Any Financial data that is required for running the business is available on one click in Finance module.
Customer Relationship Management
CRM department is helping to boost the sales performance through better customer service & establishing a healthy relationship with customers. All the stored details of the customer are available in the CRM module.
CRM module helps to manage & track detailed information of the customer like communication history, calls, meetings, details of purchases made by the customer, contract duration etc. CRM module can be integrated with the Sales module to enhance sales opportunities.
The key features of CRM Includes.
- Lead management, lead source, lead time, conversion rate, leads priority classification
- Contracts Management
- Task Management
- Appointment Management
- Ticket Management
This module consists of functionalities like production planning, machine scheduling, raw material usage,(Bill of material)preparation, track daily production progress production forecasting & actual production reporting.
Fixed Assets Management
Fixed assets management is an accounting modules to track fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. Organizations face a significant challenge to track the location, quantity, condition, maintenance and depreciation status of their fixed assets.
This module includes features like.
- Assets Categorization
- Individual/ Group Assets
- Asset handover
- Asset transfer
- Asset dashboard (Assets reports, Assets value)
Here you can generate the reports and ascertain the financial position of the company. In this module we can generate multiple financial reports and statement as required by clients.
The reports that can be generated in ERP.
- Charts of Accounts
- GL By Group
- Balance Sheet
- Profit and Loss
- Ledger Balance
- Ledger Statement
- Fiscal Year Ledger Statement