FAQ About Enterprise Resource Planning

The main components of an ERP system are the interconnected modules or applications that address different functional areas of an organization. These modules work together to integrate and manage various business processes and data. While the specific modules may vary depending on the ERP vendor and the organization's needs, the following are some of the common components found in most ERP systems:

• Financial Management: This module handles core accounting functions such as general ledger, accounts payable, accounts receivable, fixed assets management, financial reporting, budgeting, and cash management.
• Human Resources Management: This module manages employee-related information, including personnel records, payroll, benefits administration, attendance, performance evaluation, and workforce planning.
• Supply Chain Management (SCM): The SCM module covers activities related to procurement, inventory management, supplier management, order processing, demand forecasting, and logistics.
• Manufacturing Management: This module deals with production planning, scheduling, work orders, bill of materials (BOM), shop floor control, and quality management.
• Sales and Customer Relationship Management (CRM): This module focuses on sales automation, customer management, lead tracking, order management, and customer support.
• Project Management: The project management module assists in planning, tracking, and managing projects, including resource allocation, cost tracking, and progress monitoring.
• Business Intelligence (BI): BI tools provide data analysis, reporting, and dashboards to help users gain insights and make data-driven decisions.
• Quality Management: This module focuses on maintaining product and service quality by enforcing quality control processes and managing non-conformances and corrective actions.
• Asset Management: The asset management module tracks and manages an organization's physical assets, including maintenance schedules and asset lifecycle management.
• Compliance and Regulatory Reporting: This module helps organizations comply with industry-specific regulations and reporting requirements.
• Customer Self-Service Portal: Some ERP systems offer a customer portal where clients can access their account information, track orders, and manage their interactions with the organization.
• Integration and Connectivity: ERP systems include tools and interfaces to integrate with external systems such as CRM, SCM, e-commerce platforms, and other third-party applications.