The most essential modules of an ERP software system (Part 1)

The value of an ERP software is most evident in the ability to focus all processing services inside and outside the company office in one place.

VNG CLOUD's ERP software provides a variety of ERP modules that can be added to the system to create the right solution for your business. ERP software with high modularity is an attractive and easily customized tool to suit many different workflows.

Businesses often prefer to select ERP modules for their most core operating areas. If you want to apply ERP software to your company's system, it is important to know which modules are most appropriate and necessary. Below is a list of top ERP modules that most of VNG CLOUD's partners choose to deploy in the beginning.

1. Financial management

Financial management modules are always the first choice and one of the most useful tools you can include in your ERP software. Obviously, finance is the backbone of the business, and an effective financial management tool will make every part of the company run smoothly. For example, the financial management module can use real-time sales data to calculate the revenue earned.

At its core, ERP is a process that centralizes work and information, so financial tools will help you consolidate and manage cash flow throughout your company. You will be able to view the entire financial situation of the business in the ERP module, from finance to personnel to marketing. This usually includes features like a general ledger, revenues and expenditures at the most basic level.

Security features, a multi-currency system for global transactions, as well as a warning when financial falls below a certain threshold, are also common features of a financial management module. particular. You may want to consider these features when making a selection of financial modules for your ERP software. Rarely does a new ERP system come without a financial management module, but with VNG CLOUD, you can use a combination of new ERP software and old financial software if you want. Typically, if a company already has useful accounting software, this old - new combination is possible.

2. Supply chain management

Optimizing the supply chain is essential in business, but it is difficult to do it effectively. Supply chain management is complicated by its constantly changing number of components, which is why integrating the supply chain management module (SMC module) into ERP software is necessary.

Similar to independent supply chain management software, real-time data is an important feature of ERP supply chain management software modules. The ability to make decisions based on the most up-to-date information is a major advantage for users of this module.

For example, with real-time visibility of the supply chain, you can easily see weaknesses in the manufacturing or distribution process. You can also measure the average amount of time it takes to produce a product and compare it to the overall speed of the industry. With these closely related statistics, you can better plan for future supply needs.

In addition to planning, forecasting supply needs is another important function of the SCM module. Using predictive analytics, the SCM module will be able to predict future needs for your products or services. You can then use this prediction to create a production plan that meets demand. An effective forecasting tool can significantly reduce costs by minimizing damage and excess inventory.

Besides, the additional features of an SCM module include ordering, document management and quality management tools.