Choosing the Right ERP Modules for Your Business
While the ERP modules a business should invest in will vary based on business model, industry, current obstacles and other factors, there are a few modules that makes sense for most organizations. Every company needs a finance and accounting module to operate, monitor its financial health and ensure its bills are paid. It’s difficult to run a business without software that can provide financial information and execute basic accounting tasks.
Though not as critical as finance and accounting, almost every company—regardless of industry, and whether it’s product- or services-based—depends on some type of customer, so CRM is another module that would benefit most businesses. Similarly, the workforce management or HRM module is a worthy investment for most companies with more than a few employees. Employees must be paid on time, and employers need a central place to track their information and career development.
Any products company—a category that includes almost all manufacturers, distributors and retailers—will benefit from a supply chain management module. Most organizations start with inventory and order management modules, since those are crucial to daily operations, and might later add solutions for manufacturing, warehouse management and procurement.
Services businesses like consultancies, agencies and maintenance and repair companies could realize a fast return on investment with a project management module. It automates complex, time-intensive billing processes and simplifies resource planning for projects.
Commerce and marketing automation are both pieces of software that some would not put under the ERP umbrella, though many businesses rely on them to attract and convert customers, especially as the internet has become a primary driver of new business. Though there are plenty of marketing automation and commerce solutions available from non-ERP vendors, solutions from your ERP provider offer a tighter, more reliable integration and may share a common user interface that reduces the learning curve and increases adoption among employees.