Posted on 16th Jan 2023
4 Key ERP Modules That Benefit Your Business
ERP software is a tool that unifies and integrates various arms of an organization and helps the company automate most of its operations. The ultimate goal of implementing ERP software was to free up more time for your employees for more instinctual tasks. These goals can increase revenue margins, efficiencies, and improved organisational communication.
The scale, scope, and functionality of an ERP system are variable because it touches many different aspects of a business. It served as an end-to-end solution with features that helps the following departments:
1. Financial Management
Financial Management is a complex task that entails organizing, planning and determining the best use of a company's funds. Financial leaders must go through detailed real-time financial data from all departments to make critical decisions on capital projects, funding sources, cash management, and financial controls, among other things.
An ERP system helps finance teams manage critical business data by tracking, analyzing, and reporting it. ERP system is an essential tool for effective financial Management in large and complex organizations.
2. Human Resources Management (HRM)
HRM module serves as an end-to-end employee management platform, recruitment, handling payroll, referrals, compensation and timekeeping. In addition, complex HRM functions, such as tax and benefits deductions, are automated using HRM software connected to the ERP system. This helps save time and money while reducing errors.
3. Customer Relationship Management (CRM)
ERP systems with integrated CRM features incorporate customer relationship data into the mix, with the view to expanding the business's vision. All customer information, including contacts, order history, purchase orders and prospect status, is stored in a shared and easy-to-access database.
CRM systems allow businesses to automate processes such as filling out purchase orders, generating accounts receivable reminders and sending notifications to an account executive to follow up when a prospect reaches a predefined point in a sales pipeline.
4. Supply Chain Management (SCM)
An ERP system provides insight into a company's supply chain management efficiency by tracking demand, inventory, manufacturing processes, logistics, and distribution. A fully automated and integrated supply chain improves operations by recommending purchase orders, work orders, and transfer orders across multiple locations.
The SCM module can also aid inventory goal-setting and distribution resource planning. In addition, real-time data on a company's supply chain helps identify inefficiencies, allowing for better control and Management of inventory
To Sum it Up
Globe3 ERP has served over 300+ small to mid-sized companies from all industries, offering real-time insights, excellent customer support and reduced business costs by streamlining essential financial and operational functions, including inventory, order and supply chain management, procurement, production, distribution and fulfilment.
The Singapore government has extended support for the Productivity Solutions Grant (PSG) to support businesses in digitalization. Globe3 ERP is a highly recognized pre-approval vendor of PSG; any eligible companies that adopt Globe3 ERP software can get a chance to receive funding of up to 80% of the qualifying cost.
We know that selecting software can be overwhelming. However, you have a lot on the line, and we want you to succeed in your project. Visit our Globe3 ERP – The Best ERP Software For SMEs overview to learn more.