Just after the start of the new millennium, Rapid advancements in the field of information technology and automated workflow systems were observed all around the world. These automated setups have taken over the FMCG and other business sectors, With the essential need of a system that can control all the workflow from one end and help the people in different types of their daily work. For the sole purpose, Enterprise Resource Planning (ERP) modules were introduced to make the workflow and the business solutions more accurate and easy to escalate on other levels.
ERP As A Tool for Simplifying Business Solutions:
Enterprise resource planning (ERP) modules are the kind of utilities which mainly focus on operations of different business processes, the modules being used in an organization have their own way of operation, being controlled and automated according to the organization’s policies and regulations.
ERP implementation is a huge task, the initial step is to set up the ERP environment, followed by its deployment, and it’s syncing with different enterprise business software being used. There are undoubtedly other essential phases through which ERP systems are managed and operated, their operations in different functional areas of business also differ from each other, and we will discuss some of them in this article that how an ERP system can help in operations at different business sectors.
Enterprise Resource Planning Modules for Sales:
Enterprise Resource Planning (ERP) modules in Sales performs a variety of functions. It takes care of the order placements, rescheduling, invoicing and tracking of the products. ERP sales module works in conjugation with the organization’s CRM (Customers Relationship Management) system in order to cater to the marketing and distributional needs of the product because in sales, the more customers you have, the more you earn the profits.
ERP Sales module is incorporated with the company’s e-commerce website as well. ERP Sales Module is mainly entitled to the queries of pre-sales and post-sales activity management. ERP sales module also determines the orders tracking and processing scenarios, along with orders it also takes care of the marketing surveys for estimating the worth of your product along with its comparison with the other competitive products available in the market.
ERP Sales module also helps you in becoming familiar with your customers, by providing you details about their purchases recently through databases of their visits. It also determines authorization of orders and invoices moreover, in the future it will also be able to schedule the sales representative appointments with your potential customers and business partners so it may be another way of boosting the sales of your product.
Enterprise Resource Planning Modules for Procurement:
ERP procurement module is something that is never talked about or mentioned anywhere in the details or in research-based articles, although Enterprise Resource Planning (ERP) modules in procurement, deployed in a purchasing industry or any retail industry are the backbone of the business because, in the FMCG and other organizations, one of the basic payment methods which works are the purchase orders (PO). The ERP procurement module helps in automatic PO creation with the moment the purchases get approved from the head of the department.
Other than the purchase orders, credit card payment is also accepted, and procurement can be done through this quick and easy way of payment. ERP Procurement module manages these transactions directly through the financial ledger account that can be reached without a purchase order request. Another great advantage of having an ERP procurement module within your organization is contract management. Here the ERP module acts as the financial hub where account payable and receivable are integrated with contract management utilities.
Enterprise Resource Planning Modules for Retail Industry
Enterprise Resource Planning (ERP) modules are used only in those retail setups which have some large areas to cover, or we should say ERP implementation in retail industries is mostly done on large scales and when they are doing a lot of business. Retail businessmen operating locally prefer POS systems/solutions for their financial backups and operations. ERP modules in Retail industries are deployed with an approach to future growth in the business.
There is always a point in the retail business where you have reached the state of Enterprise Resource Planning software to be deployed because without a proper mechanism of dealing and managing your heavy workload of sales, payment and cash flow backups the things can get bad for the owner, so to be safe, you must go for the ERP retail modules just to make sure your investments, your data and most importantly the revenue earned by effective sales should remain in safe hands.
Enterprise Resource Planning Modules for Financial Reporting:
Enterprise Resource Planning (ERP) modules in financial reporting and assessment are the most integral part of financial setups in any organization. Being a finance manager, it is your utmost priority to have the financial backups and the profits scale increasing with promoting savings, investment safety and the USP of the firm increasing through the mode of operations.
ERP Financial reporting modules help you in this regard by making the accountancy better, which allows the heads in precisely defining the budget and finalizing the cost for the materials required for making the product.
ERP Financial modules also provide services in payment of your bills and managing the revenue in the corporate accounts along with the essential tracking and credit management, with the percentage of profit earned by the organization. Here is a question of how ERP Financial modules have made the financial operations so easy to execute and control? The answer to this question is the “Dataflow”.
Using an ERP Financial module in your company will help you in getting quality information regarding the ongoing processes, the payments being made, the revenue collected through effective sales campaigns and the expenditures on different projects. All the information can be obtained from your ERP financial module with this guarantee that your data and your investment’s information will not go to anyone until and unless he/she is authorized by the manager to seek this knowledge.