Enterprise Resource Planning (ERP) software can transform your business operations, from managing projects to organizing inventory and financial records. Whether you’re in manufacturing, education, or solar energy, the right ERP modules can streamline every aspect of your workflow.
In this article, we break down the most essential ERP modules for businesses, their core functions, and how they benefit different industries. You’ll learn how modules like project management, finance, CRM, and HR can be tailored to your organization’s specific needs.
If you’re looking to streamline your business operations with a custom ERP solution, Watkyn builds software tailored to your needs. Contact us today to learn how we can develop the right ERP modules to boost your business’ efficiency and performance.
What is ERP Software?
When we talk about ERP software, we’re referring to systems that help organizations manage every aspect of their important operations. This isn’t limited to small businesses—ERP is widely used in government, higher education, healthcare, and other industries.
Most modern ERP software is modular, meaning it consists of separate components that each help a business understand and manage a specific area of its operations—whether that’s finance and accounting, manufacturing and inventory control, or project management.
The benefit? Organizations can choose or customize only the modules that are specific to their needs. Let’s explore some of the most important ERP modules to consider.
Best ERP Modules for Small Businesses
Project Management Module
A project management module allows you to track and monitor your company’s performance while delivering on a job or project. This includes:
- Measuring direct and indirect labor costs
- Tracking hours worked, materials costs, and out-of-pocket expenses
- Managing custom job information such as deliverable due dates
- Assigning subtasks or sub-processes to teams or team members
This module is essential for businesses oriented around projects or jobs, whether they involve services or custom-built physical products like made-to-order machinery.
Inventory Management Module
If your business is focused on manufacturing or distribution, an inventory management module is crucial. It ensures you have the right inventory in the right place at the right time, avoiding stockouts and overstocking.
Key features include:
- Reorder tracking for raw materials
- Inventory visibility across multiple warehouses or within a single facility
- Tracking inventory statuses: on hand, on order, in transit, reserved, and damaged
- Tracking the history of inventory, e.g. when it was shipped
- Handling consignments
- Cross-referencing internal and vendor/customer part numbers
This module improves coordination between departments and enhances supply chain efficiency.
Finance and Accounting Module
Traditionally the core of any ERP system, the finance and accounting module translates operational data into financial reports.
It allows you to:
- Generate profit & loss, income statements, and balance sheets
- Track financial variances
- Integrate with existing accounting software using modern APIs
- Handle multi-currency transactions and generate historical exchange rate reports
If your current accounting system works well, a good ERP should seamlessly integrate with it rather than replace it.
Customer Relationship Management (CRM) Module
A CRM module is crucial for managing sales pipelines, customer information, and communications. It’s even more effective when integrated with other ERP modules. For instance:
- Sales data can feed directly into the project management module once a deal is closed
- Sales reps and operations teams can communicate efficiently about timelines and deliverables
- Manufacturing and inventory teams can forecast demand based on CRM pipeline stages
This integration ensures clear communication across departments and improves customer satisfaction.
Human Resources (HR) Module
With team members working both locally and remotely, tracking HR-related data is more important than ever. An HR management module can help you:
- Manage employee records, including onboarding, assets issued, and performance reviews
- Track employee pay history, training participation, and certifications
- Ensure compliance by documenting background checks and physical work locations
- Understand team involvement in projects and individual performance over time
This allows for better management, and can help you meet all regulatory requirements across different jurisdictions.
Marketing Automation Management Module
Marketing is closely tied to every business function. A marketing automation module can help you:
- Execute campaigns across multiple channels (email, social, ads)
- Keep a steady stream of engagement with prospects and clients
- Align marketing efforts with CRM and sales operations
By integrating marketing with your ERP system, your business can maintain a consistent voice and strategy across all customer touchpoints.
The Benefits of Custom ERP Modules
Custom ERP modules can reduce your overall implementation cost. Why pay for features you don’t need?
For example, if your business doesn’t manufacture goods, why include an inventory management module?
Purchasing only the modules relevant to your operation can help you avoid unnecessary expenses and run your business more efficiently, saving on overhead, preventing delays, and minimizing risks like spoilage or production bottlenecks.
If your business needs change over time, custom modules can be developed and integrated later via APIs, ensuring a seamless blend between your existing ERP system and your new module.
Create A Custom ERP Module for Your Business with Watkyn
Whether you’re looking to manage projects or improve cross-department collaboration, a custom ERP solution can make all the difference in your daily business operations. At Watkyn, we design ERP software that’s built around your business, not the other way around.
Contact us today to speak with our team about creating the right ERP system to streamline your operations and support your business’s growth.
