As previously mentioned, most ERP software is made up of a set of modules that can be customized according to the needs of the company; each module corresponds to a certain department and includes a set of associated functionalities, some of the most important modules are:
- Customer Relationship Management (CRM)
- Accounting management module
- Billing and invoicing
- Human Resource management
- Customer service
- Marketing automation and organization
How does it do all of those things? Primarily through integrating those different modules and automating tasks like payroll, accounting, invoicing, and reporting, among other things. Many ERPs will then use that data to analyze work operations, find trends, and help make decisions easier with valuable insights into your company’s operations.
Beyond automating, analyzing, reporting, and management, a primary function of an ERP is data centralization. The software brings together large amounts of data that are often scattered across various teams and departments, giving businesses more visibility in a singular location.
💡 Keep in mind that not every ERP is made the same.
Some ERPs target larger enterprises with expansive features, lacking the depth of other smaller ERPs that specialize in certain areas. The key is to determine which ERP fits your business based on various factors, including:
- Its functionalities which must respond to your business needs
- The size of your company
- Your preferred deployment method: On-premise or in the cloud
- Among other things like pricing, security, ease of implementation, and more.