What are the common ERP modules and introduction to ERP functions?

What are the different modules of an ERP management system? Before choosing an ERP system for an enterprise, we should have some understanding of it, and then select it based on the business scope of the enterprise.sap partner hk Integrated ERP systems typically contain a variety of different modules, each of which supports a specific business process, such as finance, procurement, manufacturing, etc., and provides employees in the corresponding department with the transaction processing capabilities and insights they need to complete their work. Each module is connected to the ERP system, enabling the system to provide a unified source of truth, delivering accurate, shared data to various departments.

The most widely used ERP modules include:

Finance: Finance and accounting modules are the backbone of most ERP systems. In addition to managing the general ledger and automating key financial tasks, financial management software can help businesses track accounts payable (AP) and accounts receivable (AR), perform financial closes efficiently,sap hcm generate financial statements, comply with revenue recognition standards and reduce financial costs. risk.

Human Resource Management: Most ERP systems include an HR module, which provides core functionality such as time and attendance,sap consulting and payroll accounting. Extensions and even entire human capital management (HCM) suites can be connected to ERP to provide more powerful HR capabilities, including workforce analytics and employee experience management.

Sourcing and Procurement: The sourcing and procurement module can help companies purchase materials and services required for product production, or goods they want to resell. This module can centrally handle procurement operations and automate procurement processes, including inquiry, contract creation and approval processes. With this module, businesses can leverage AI-based analytics to minimize under- and over-purchase, negotiate better with suppliers, and even seamlessly connect to buyer networks.

Sales: The Sales module tracks communications with potential and existing customers, helping sales reps use data-driven insights to develop appropriate promotions, seize upsell opportunities, increase sales and generate more leads. Manufacturing management software provides the functionality required for the order-to-cash process, including order management, contract management, billing management, sales performance management, and sales team support.

Manufacturing: The manufacturing module is the key planning and execution component of ERP software. This module can help companies simplify complex manufacturing processes and ensure on-demand production. This module usually includes materials requirements planning (MRP), production scheduling, manufacturing execution, quality management and other functions.

Logistics and Supply Chain Management: Another key component of an ERP system, the supply chain module is able to track the movement of goods and materials in a business’s supply chain. Supply chain management software provides real-time inventory management, warehousing operations, transportation and logistics tools that can help improve supply chain visibility and resilience.

Service: In an ERP system, the service module helps businesses deliver the reliable, personalized service that customers expect. Service management software includes tools that support in-house repair management, spare parts management, field service management, and service-based revenue stream management. In addition, the module provides analytical capabilities to help service representatives and technicians quickly resolve customer issues and increase customer loyalty.

R&D and Engineering: The feature-rich ERP system includes R&D and engineering modules. This module can provide product design and development, product life cycle (PLM), product compliance management and other related tools, supporting enterprises to create innovative products in a fast and cost-effective way.

Enterprise Asset Management (EAM): A powerful ERP system will include an EAM module, which can help asset-intensive companies minimize downtime and ensure that machines and equipment operate at maximum efficiency. The module provides predictive maintenance, scheduling, asset operations and planning, and environment, health and safety (EHS) capabilities.