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Though ERP technology has been around since quite a few years, it is only recently that the ERP landscape has witnessed a sea change in terms of agility, flexibility and utility.
As the digital transformation has significantly transformed the way we do business today, it is time enterprise tools become more flexible and modular in nature to support diverse business needs. This holds true for ERP software, since it touches almost every corner of a business.
This is the reason why we have been witnessing a steep rise in the demand for modular ERP systems that enable a business to choose the modules it needs minus the surplus.
What ERP modules your business needs?
It counts to mull over the modules that each of the department would need in your organization. Since every department can reap the benefits of an ERP solution, it is advisable to do a quick analysis of what modules are important to your business when starting the enterprise resource planning journey afresh.
Here are five must-have ERP modules that a business should emphasise on when investing in an ERP software:
Each department at an organisation tends to make several decisions on a daily basis that affect the company’s bottom line and growth. Thus, the more detailed insights you get over your past decisions and figures, the better it will be to come up with sound business decisions in future. This is where an ERP software can come to your rescue. Yes, a well-unified ERP system implemented organisation-wide can help your business grow smartly. With more real-time data at hand, ERP solution can put your business on the right foot. Most importantly, a centralized ERP system when integrated with business intelligence tools will deliver detailed insights into key business operations thus, helping a company drive its operational efficiency.
The demand for flexible and lean inventory as well as warehousing infers that businesses are inclining towards next-gen ERP systems that come with advanced inventory management modules that not only track, but also predict where the purchasing department ought to emphasize more on. Investing in such an enterprise solution is sure to drive revenues, improve savings and improve efficiency in warehouse management.
A company’s accounting department expertise in accurately analysing and tracking the revenue flowing in and out greatly influences strategic planning as well as financial health. With a flexible ERP software, your business can gain total control over into accounts receivable, accounts payable, cost management, compliance, ledgers, taxes, etc. This is a key module that would help track growth and financial health. Further, automating accounts receivable is great for bringing down accounting costs, since e-invoicing is a lot cost-friendly than paper-based invoices.
Whether you manufacture in-house or outsource, an ERP solution can help you deliver important insights and control over operational efficiency whilst helping you curb costs. Data and demand –driven manufacturing planning helps in lean manufacturing, inventory optimization and helps to track problems before they pop up. Further, a digitally driven quality assurance process would help keep costs down whilst meeting expectations.
On-demand and instant access to key business data and that too in real-time is the key to staying ahead in today’s cutthroat business competition. A manufacturing business is the perfect example here. A robust ERP system with excellent warehouse automation functionalities can be a boon in managing employee tasks, supply chain, inventory, and much more from a unified dashboard saving great deal of efforts and time.
Remember that a modular ERP software makes it flexible beyond one can imagine. As a business scales, so can the ERP. If you are starting your ERP journey afresh, consider these key modules as starting points and keep on exploring more options as your business evolves.
Reach to our ERP expert now to help you pick the best ERP for your business. Sage Software Solutions (P) Ltd. has been implementing ERP solutions for over three decades. SMS SAGE to 56767 or drop us a mail at firstname.lastname@example.org for a free demo and consultation.