ERP Software Elements

Published: JANUARY 24, 2020

 

When acquiring an ERP Software it is important to know the functions and features of the ERP Softwrae that the company is about to purchase. What are the Elemets of an ERP Software? Here is the list:

1. Project Management Module in ERP Software

This is important for those companies who monitor the sales and expenses per project like construction and manufacturing companies.

2. Accounting

The recording of financial transactions, the assets including accounts receivable and accounts payable. Accounting Module is one of the main the focus of an Enterprise Resource Planning System. Since it gathers financial data it can generate significant reports for a business to run and to comply with the government standards. Such reports include Financial Statements and BIR Forms.

3. Supply Chain Management (SCM)

SCM is available in an ERP Software. It keeps track of the flow of goods and services and the processes that transforms raw materials to final product.

4. Manufacturing

Manufacturing is mainly the production of goods or products used for sales using machines and engineering. The module must control the production cost, forecast production capability, quality control, expenditure etc. The ERP Software must keep the data of the production for sales forecasting and costing.

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5. Human Resource Module

HR Module makes it easier for the company to manage its employees Daily Time Recording, Allowances, Deductions, Loans, Benefits, salaries, payroll etc. By having this module in an ERP Software, businesses may easily track its employee’s status and its expenses for salaries and wages.

ERP Software is a huge system that consists of different modules that acts for different areas in the business. It is very important to know the elements that are available in an ERP Software so it would be easier for the management to picture out what they need for their company.