The ERP software market’s expected value is $117.09 billion by 2030. Not so long ago, only large firms invested in ERP systems. Yet, thanks to ongoing innovation and advancements, all that has changed.
Are you looking for the best ERP modules for your ERP system but working on a smaller budget? Keep reading, and we’ll take you through the five you most need.
Table of Contents
1. Accounting Management
Your accounting management module will calculate real-time revenue using sales data. Bookkeeping tools will assist you in managing the flow of funds in your business.
Financial statements can also assist you in developing budgets. They also inform you about your business’s financial situation. Tax, sales, profit, loss, and balance sheets are all examples of financial statements.
2. Inventory Management
Inventory management ERP is like supply chain management (SCM). It can operate as a pared-down set of tools if you don’t use an SCM program.
This ERP module is crucial because it interacts with many aspects of your business. Its benefits include increased profits, efficiency, and more delighted consumers. It also gives a sizable advantage over your competition.
3. Marketing Automation
Marketing automation improves the marketing process with efficient features. This module will help you reach out to the general public, journalists, and bloggers. It can also help you generate new leads with lead nurturing.
Personalizing marketing emails shows that you care and don’t follow a conventional approach. Thus, this increases retention.
4. Customer Relationship Management
Customers make your small business relevant. Hence, CRM software is so essential for an ERP solution to succeed.
This module aids in the management of clients, leads, and sales processes. Its features include contact lists, interaction histories, and basic analytics. They ensure that your customers receive the most relevant product promotions.
There are a few extra perks you can check out for a more extensive CRM module. For example, getting a decent contact manager will do wonders for your small business. They keep track of customers, leads, and prospects, which benefits your marketing activities.
5. Human Resources Management
HR is another element that affects all departments because it involves your personnel. It’s one of the most used ERP modules because it contains necessary data and operations.
Because HR involves such massive data, it’s easy for wrong data to enter your system and duplicate. Thus, this will remove inaccuracies by sorting and analyzing data to assure accuracy.
ERP supply chain modules ease internal workflows. If you don’t have an integrated HR system, you may need to undertake some reformatting. This way, you can communicate information with ease and not make mistakes.
Also, check this out for more info on Epicor® Kinetic ERP software. This software would help you stay on top.
Get the Best ERP Modules For You Today
This list of ERP modules serves as a starting point for your small business. Keep your functionality requirements in mind as you go through the different modules. They can save you time and money by avoiding redundant implementation elements.
We hope you won’t overspend on solutions that won’t help your business grow. Check out the rest of our posts for more information on these.