Over the last several decades, enterprise resource planning (ERP) systems have become a critical tool for businesses. An ERP solution automates critical business processes and functions as a centralized database for all financial and operational data from across the organization. It acquires this information from a variety of modules designed to assist various departments, ranging from accounting to supply chain to human resources, in carrying out their respective functions.
An ERP system provides all employees with all the data they need to answer critical questions about their department’s current performance and future plans, as well as identify areas for improvement. This lone source of information cuts down data accuracy and consistency issues and ensures that everyone, regardless of role, is looking at the same numbers. It also encourages greater decision-making, which results in more streamlined operations and cost savings. Furthermore, ERP can automate many tasks, improving efficiency and allowing employees to focus on more strategic work.
Common ERP modules support back- and front-office functions such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management (CRM) procurement, and workforce management. Professional services automation (service resource management), human resource management, eCommerce, and marketing automation are examples of more functionally rich solutions.
There are currently 13 ERP modules available. Each module is designed for specific business functions, providing data, and supporting processes that will assist employees in performing their duties.
ERP’s modular design allows it to adapt to the changing needs of a business, which is one of the main reasons this software has become so popular. The beauty of modular ERP software is that it allows a company to add functionality while maintaining the same foundation. When requirements change, there is no need to implement a new ERP system—a time-consuming process—if the company selects an established ERP provider with a diverse set of modules
Acquiring and implementing an ERP platform used to be challenging, if not overwhelming, but starting with a suitable ERP system for your business allows you to hit the ground running with the foundations and build it out as your business grows. The ideal ERP modules for your business are those that meet your current needs while also being scalable enough to help you meet the challenges and opportunities that growth brings.
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