We compare NetSuite vs Microsoft Dynamics ERP. We analyse and compare the functionality and modules, industry fit, implementation and much more.
What are ERP Modules?
ERP Modules: What Are They? An ERP module is a software component or part of the ERP program that takes care of a ...
ERP Modules: What Are They?
An ERP module is a software component or part of the ERP program that takes care of a particular operation or department. All ERP software, including SAP, Oracle, Netsuite and more are made up of multiple ERP modules such as financial management and accounting, warehousing and inventory, supply chain, procurement and more. ERP modules are powerful tools for adapting business processes across departments and improving cross-departmental workflows. In the following article, we have presented some of the most common and basic ERP modules that can be found in all ERP systems. Sources: 2, 6, 11
Enterprise Resource Planning (ERP) consists of various modules or components that are part of the overall system, depending on the business unit. An ERP system consists of modules, and each module focuses on a certain area of the business process, including finance and marketing. ERP Finance Module, Manufacturing Module, ERP Supply Chain Module, Human Resources Module, Production Management Module, Sales and Sales Module, Quality Management Module, Customer Relationship Management Module and Purchasing Module, Material Management Module are some of the most researched ERP modules in the USA listed below. Sources: 0, 9, 13
The different modules of the ERP software represent the business processes and help to unify data and processes at a central location. Each ERP module is designed for a specific business function and provides data and support processes to help employees do their job better. The various functions of a company in an ERP system consist of different modules. Sources: 4, 8, 10
Sales & Marketing
The sales and marketing module in the ERP software helps to store information about leads and customers, including inquiries, offers, contact details, invoices, etc. It is a kind of CRM system for companies that helps to improve the relationship between business prospects and customers, provide support and improve the customer experience. Sources: 4
The various ERP department modules manage the core business functions uniformly and are designed to facilitate the seamless flow of information between multiple departments such as sales, inventory management, customer relationship management, human resources, finance, etc. Sources: 3
Supply Chain Management
One of the most popular ERP systems is the Supply Chain Management module, which helps companies manage the entire material flow from the manufacturer to the retailer and the end customer. The goal of the Oracle ERP Manufacturing Module for ERP is to provide complete inventory management and streamline the production cycle for supply chain components with a management system. Another function of the product management module in an ERP system is the automation of the manufacturing process through functions such as material invoicing and BOM cost estimation to track additional costs. Sources: 3, 5, 10
With this module, companies are able to make decisions based on the latest information from their ERP system. Real-time data is similar to standalone supply chain management software and is an essential feature of the ERP software module Supply Chain Management. With advanced databases and real-time analysis of data and features of ERP systems, this module provides accurate business forecasts. Sources: 0, 1, 3
ERP software comes with multiple systems and modules to be purchased by an organization according to the usefulness of its business. Many different ERP software modules are available to complement the system and customize the solution for your business. Since different companies have different objectives when choosing the software, they can choose the ERP module that suits their business processes and is tailored to their business needs. Sources: 1, 3, 4
Human Resources & Personnel
The HR and personnel module of an ERP system helps to maintain a comprehensive employee database. It takes care of activities such as the preparation of payslips, payouts, payslips, etc. Sources: 3
By integrating different modules into an ERP system and collecting data from different departments within the company, a centralized repository of business data is created. The most important ERP modules store employee data such as general information such as working hours, attendance, sick leave, vacation, etc. Sources: 7, 11
Finance & Accounting Management
Organizations need sophisticated purchasing options to purchase the raw materials and components needed for manufacturing through sophisticated procurement software modules from ERP vendors and third-party vendors. Finance and accounting modules are important ERP modules because they enable companies to understand their current financial situation and future prospects. Sources: 8, 12
The key functions of the finance and management module in an ERP system are the recording and management of receivables and liabilities, cash management and the preparation of financial reports such as balance sheets, profit and loss accounts and cash flow accounts. The ERP finance module also shares data with other core business functions such as Inventory Management, Production Planning, Purchase, Customer Relationship Management (CRM) and others. Transactions between one module or another have a financial impact on the accounting system because they trigger actions that transfer data between the ERP and the finance module. Sources: 10, 12
The financial management module of an ERP system helps to collect and track financial information and makes it available in the form of annual financial statements. An ERP financial module is a software component that takes over the most important accounting and financial management functions of a resource planning system for companies. Sources: 10, 12
Unified Database Management
A key component in most ERP systems is the use of a single unified database to store the data of the different systems and modules that are being processed. Most ERP vendors allow companies to select only the basic modules needed for central financial functions required for the system to function properly.
Looking To Implement Or Upgrade Your ERP System?
If you already have an ERP system or are considering implementing one, it is important to know which resource planning modules are available for companies and which are most beneficial to your business. Certain modules have a high price tag, but they are considered the most important and commonly used modules in ERP systems. Sources: 1, 7
- https://www.workwisellc.com/blog/the-five-most-common-erp-modules/ 0
- https://www.selecthub.com/enterprise-resource-planning/top-5-common-erp-modules/ 1
- https://blog.datixinc.com/blog/overview-of-epicor-erp-modules 2
- https://www.softwaresuggest.com/blog/erp-system-modules/ 3
- https://www.in4velocity.com/blog/erp-modules.html 4
- https://www.chetu.com/blogs/technical-perspectives/oracle-erp-modules.php 5
- https://www.softwaretestinghelp.com/introduction-to-sap-erp-software-sap-erp-modules/ 6
- https://www.europeanbusinessreview.com/erp-modules-types-features-functions/ 7
- https://www.netsuite.com/portal/resource/articles/erp/erp-modules.shtml 8
- https://www.sagesoftware.co.in/erp/modules/ 9
- https://tallysolutions.com/erp-software/erp-modules/ 10
- https://existek.com/blog/erp-modules-main-features-functionality-and-workflows/ 11
- https://searcherp.techtarget.com/definition/ERP-finance-module 12
- https://galaktika-soft.com/blog/what-are-the-main-erp-components-and-modules.html 13