Odoo ERP Software Business Modules Development Company in India, Canada, USA

The sleek running of business needs different functionalities. Enterprise Resource Planning modules in Indglobal Digital consists of these functionalities.

ERP Company Software Company module is a part of the entire system. Each module provides specific and respective functionalities. The functionalities are respective to a single area of business processes.

Types of ERP Application Development modules:

Functional modules

  • Financial module
  • Human Resource (HR) module
  • Production module
  • Purchase module
  • Inventory module
  • Sales module

Technical modules
Application suite

  • SCM
  • SRM
  • CRM
  • PLM

Functional modules of ERP software –

FINANCIAL MODULE IN ERP

It records transactions in the general ledger accounts. This module produces financial statements for external reporting purposes.

There are the main features of an ERP finance module:

Profit tracking. The profit tracker procures a business with a picture of its overall financial health and guidance of how it is using its financial resources. Some profit trackers will also anticipation an organization’s return on investment (ROI) from all channels based on historical sales and expense data.

General ledger. The GL is an extensive record of all of a company’s financial transactions. It tracks surely layout as income and expenses, capital accounts, assets, and liabilities.

Accounts payable (AP). An organization uses the account payable function to transact the money it owes vendors and other creditors and also can save money and time, as well as minimize human error. The AP characteristics of the ERP finance module can quickly process a large number of invoices and other financial transactions between an organization and its vendors. AP also integrates an organization’s payables data with its purchasing system, which may be part of core finance or in a separate purchasing or acquirement module, enabling better control of cash flows.

Accounts receivable (AR). The AR function is where a company manages the money that customers be in debt. It tracks payments and manages cash and invoices. An organization can use this function to automate such tasks as generating repetitive invoices, account statements, and payment reminders. By automating the AR process, a company can accelerate collections and make it easier for customers to pay, thus improving cash flow and customer satisfaction.

Fixed asset management. ERP software migration Company utilizes this feature to track and manage tangible assets, such as computers, factory equipment, and vehicles. Fixed asset management lets a business take into consideration depreciation calculations, compliance requirements, and tax implications. By using this feature, it can get good visibility into how it uses its fixed assets, along with the associated costs and maintenance.

Purchasing. Most core Odoo ERP systems Software Company in India’s financial modules have some features a company needs for basic purchasing of supplies and services, including generating the required paperwork, such as claim and purchase orders. Integral to AP usually provides the necessary handling of invoices, while invoice matching ensures that vendor invoices match the information in AP before payment is processed. Businesses that need more sophisticated purchasing capabilities, especially for buying the raw materials and components needed for manufacturing, usually have a more refined procurement software module from the ERP vendor or a third-party provider.

Risk management. The finance module’s enterprise risk management features enable an organization to anticipate, analyze, and manage risks to its operations and financial stability. For example, getting a handle on credit risk can ascertain that a company has enough cash reserves on hand to cover AP if a customer missed a payment. Risk management features can also help companies deal with issues related to security, legal liabilities, obedience, and reputational risks.

Reporting. Basic reporting features provide ingress to financial data, often in real-time, and help a company to prepare financial reports typically for internal use, though some products can produce reports and audit trace needed for regulatory requirements. The reporting features’ visibility into ERP financial data helps a business make data-driven decisions and predictions about its finances. Business intelligence (BI) and analytics features give a company a neat view of its revenue picture. Dashboards can show actual and expected sales, expenses, and other financial information. Presenting the data in a graphical format helps managers speedily realize the organization’s financial health.

Tax management. This feature, available in some finance modules, stores the ERP system’s tax settings and confer tax reporting and audit functions. It empowers an organization to collect tax information from all of its financial documents into a single repository. It also generates the reports a company needs to file its taxes.

HUMAN RESOURCE MANAGEMENT MODULE IN ERP

It facilitates employee recruiting, hiring, and training. This HRM Software Company Module also includes payroll and benefits. Features are as follows-

Employee Information Management

HRM solutions in Indglobal Digital should include a complete directory of employee profiles that can include personal information, job and salary history, banking and tax details, insurance plans, time off requests, disciplinary history, performance feedback, or any other custom fields important for the company. This keeps all of your employees’ information connected to the main record, for convenience of tracking and reporting. HRIS systems can provide an employee self-service portal, letting them log in and view important information as well as a knowledge base of informative documents.

  • Employee Records and Database
  • Employee Self-Service Portal
  • Job History
  • Salary History
  • Disciplinary History
  • Insurance Plans
  • Banking and Tax Detail
  • Time off Used and Accrued

Recruitment and Hiring

An extensive HRM software company will assist with all human resource responsibilities throughout the employee lifecycle, beginning, of course, with recruitment and hiring. Human resource management software can completely sleek the hiring process for HR departments with automated HR system features. Businesses can post a job opening to multiple websites and social media channels with ease, and even use HRIS software to craft a job description. As the applications start pouring in, an applicant tracking system (ATS) can automatically accept (and reject) candidates based on predetermined criteria.

  • Job Requisitions
  • Job Descriptions
  • Job Board Posting
  • Social Recruiting
  • Applicant Evaluation
  • Applicant Tracking System (ATS)
  • Candidate Pre-Screening
  • Auto-Response
  • Job Offer Extension
  • Background Check
  • Onboarding
  • Branded Company Job Site

Talent Management

Human resource management software with substantial talent management HR features continues to evaluate employees well beyond the interview process. Once hired, execution assessments provide information on employee productivity, customer satisfaction, and more. These programs can offer automated feedback, or HR departments can base their own reviews on the abstraction provided by the software. “` Depending on the system, employee performance feedback may be visible to the workforce via a dashboard or some other kind of interface. This eliminates the need to notify employees of any evaluations via email or engage in time-consuming performance review meetings.

  • Employee Performance
  • Behavioral Tests
  • Competency Tests
  • Reviews and Feedback
  • Key Performance Indicators (KPI)

Benefits Management

Managing employee benefits, including healthcare and 401k contributions, is a major component of any HRMS solution. Your human resource management software features should facilitate workflows and information for benefits. Additionally, permitting employees to enroll in benefits through HRM minimizes errors and extraneous work.

  •  Benefits Administration
  •  Wellness
  •  Health Insurance
  •  Life Insurance
  • Retirement Plans
  • Travel Compensation
  • Paid Time off (PTO)

Financial Management

Managing the payment of a workforce is one of the most obligatory duties of a human resource department. Through the use of an HRM system, your business can streamline this essential HR functionality and ensure all employees are properly repaid. Base salary administration, bonus programs, commissions, and stock and long-term stimulation management are included in various modules. Some HRM solutions provide compensation management to simplify your company’s financial planning.

  • Payroll
  • Compensation
  • Rewards
  • Salary Administration
  • Employee Recognition

Time and Attendance Management

HRM systems can provide functionality for scheduling shifts and attendance to ensure compliance with staffing needs. These human resources software solutions can schedule employees thereon departments, locations, and projects. Furthermore, many HRM platforms alert employees when schedules change or staffing levels are inadequate. Electronic timesheets make payroll and time tracking smooth. Time off management features handles paid time off accrual and use, disability leave, maternity/paternity leave, and other absences.

  •  Clock In/Out
  • Time Reporting
  • Time Tracking
  • Project Billing
  • Overtime Tracking
  • Workforce Scheduling
  • Paid Time off (PTO)
  • Absence Management
  • Holidays Calendar
  • Biometrics

Learning and Professional Development

Training and learning courses are vital to keeping your workforce up-to-date. A learning management system Software Company(LMS) included in a human resources management stage may be pre-loaded with educational resources and/or give users the option to upload their own customized materials to the software. Certain HRM solutions can also tie up into external systems to help systematize course content to your employees. Keeping track of what certifications your employees hold minimizes staffing and planning issues.

  • Learning Course Administration
  • Professional Certification Management
  • Test and Training Customization
  • Multimedia Learning Materials
  • Content Standardization
  • Performance Management

Accounting

Accounting features in an HRM system promote financial planning and invoice management. HR budgeting and forecasting abilities consolidate and centralize financial information. These HR software features simplify accurate budget production and what if only scenario analysis for human resource-based expenditures. The automation of accounts payable and accounts receivable simplifies billing, especially for contract companies.

  • Accounting
  • Budgeting
  • Forecasting
  • AP/AR Automation

Technical Features

It is equally significant to evaluate the technical features of HRIS software your business will need in an HRM system. This may include standard technology-related phases like deployment options and mobile functionality, or continued management options such as security, governance, and user support. It is essential to consider the existing technical know-how and infrastructure of your business when evaluating this category of features.

  • Compliance Management
  • Mobile Applications
  • Deployment Environments
  • Security
  • User Support
  • Maintenance

PRODUCTION PLANNING MODULE IN ERP

It maintains production information. This module will maintenance in doing the planning, scheduling, and recording production activities.

There are main features of the ERP production planning module are-

  • Process definition with inputs, outputs, by-products, and overheads.
  • Definition of Bill of Materials (BOM) for all products up to any number of levels.
  • Planning based on customer wise production advice and sales forecast.
  • Material requirement planning (MRP) based on machine capacity and availability. Machine efficiency, raw material availability, lead time. It gives a workable quantity for production.
  • Production plan for machines with the best use of all available resources. Resource like raw materials and machines.
  • Option to revoke production plan to change input parameters, production priority, or quantity. This is done using good production advice.
  • Generation of the production schedule for machines detailing inputs and outputs.
    Analysis of machine efficiency and utilization.
  • Automatic generation of MRS and purchase requisitions on finalization of the plan.
  • Generation of process requisition for processes that have to be subcontracted.
  • Reserving quantity for production.
  • Automatic generation of job orders for production.
  • Option to make daily plans for production.
  • Generating reports related to production.

PURCHASE MODULE IN ERP

The purchase module streamlines the acquirement of the required raw materials. It automates the processes of,

  • Identifying potential suppliers.
  • Negotiating price.
  • Awarding a purchase order to the supplier.
  • Billing processes.

The purchase module is tightly combined with the inventory control and production planning modules. The purchasing module is commonly integrated with supply chain management software.

Features of ERP purchasing module-

  • Streamlines purchase and process cycles.
  • Detailed Supplier/Subcontractor/Service Provider database.
  • Capturing materials requirement.
  • The automatic firing of purchase requisitions based on MRS.
  • Quotations from various suppliers.
  • Recording Payment terms in PO.
  • Excise consideration in Purchase and Process Orders.
  • PO authorization.
  • PO amendments with complete amendment history.
  • Order cancellation and order closing.
  • Multiple delivery schedules.
  • Quality inspection of goods.
  • Quotation validity.
  • MIS for vendor evaluation based on quality, price & delivery time.
  • Subcontracting, generation of process orders.
  • Multiple indents for multiple items in a single PO.
  • Purchase order processing.
  • Purchase order entry with item details and other details like taxes, discounts. Extra charges like freight, P&F, octroi.
  • Flexibility to generate Purchase Order in domestic and foreign currency.
  • Advance adjustments.
  • Service contracts, Service Bills, Service indents, and PO.
  • Value-based approval of indents.
  • Bill of entry.
  • Complete import functionality with the keeping of custom details. Purchase bill for import, excise concern in imports.
  • Reports for order tracking for complete control over the procurement cycle.

INVENTORY MODULE IN ERP

ERP Inventory Management Software Company is the word for merchandise or raw materials that a company has on hand.

This module manages that are-

  • The accession of raw materials from suppliers (purchasing).
  • Keeping raw materials inventory in storage.
  • Work-in-progress goods.
  • Shipping of finished goods or products to the customer.

Typical features of an ERP inventory management Software system are-

ERP inventory management systems are made to empower businesses to manage not only stock but all business operations from a single location. Some of the standard characteristics of an ERP inventory management system include:

  • Stock tracking and management
  • Sales and purchase order management
  • Multi-channel order fulfillment
  • Warehouse management and stock transfers
  • B2B eCommerce functionality
  • Payment gateway functionality
  • connecting with eCommerce, accounting, shipping, and other operational tools
  • Intelligence reports and analytics

SALES MODULE IN ERP

Sales Module Software Company records sales orders and scheduled distribution. Maintaining and acquiring customer information is the responsibility of this module. Customer information includes pricing, address and shipping instructions, billing details, etc.

  • Easily generates Sales extraction and Orders. One-click transfer of Quotes to Order and order to shipment.
  • Manages Customer, Prospect, And Sales Person Information.
  • Volume-based scaled pricing, discounts, and mark-ups based on customers or customer groups, and products or product groups.
  • Define Contract, Sales Templates and terms of payment
  • Confirms and processes shipments, partial shipments, and backorder;
  • Checks inventory for parts availability during shipment; instantly updates the inventory after shipment.
  • Generates Invoices, pick list, packing slips, bill of ladings and Certificate Of Analysis
  • Bundles together different items through Sales Kit
  • In-depth Insight through multiple sales reports
  • Handles returns with ease.

Technical modules & Application Suits

Technical modules come under application platforms. This is like the role of the operating system for your laptop.
Technical modules in Indglobal Digital are tightly coupled with functional modules. They help sleek integration with different functional modules and application suite.

Technical components found in ERP systems are,

  • Basis components
  • ERP Security module
  • Networking and interface
  • Management Information System
  • Application Programming module
  • Analytic module
  • APIs opened for external use

Integration of ERP with application suits-

The application suite is the set of interconnected information systems. That could be within and across various companies.

Today, more and more organizations start utilizing ERP frameworks. The next phase is to interface these frameworks. That will support interactions that occur between and among organizations.

Few of the popular inter-company systems are,

Supply chain management (SCM):

SCM interacts with an organization to different organizations that supply the materials. Regular SCM frameworks help organizations in planning. Planning for their method requirement and improve assorted transportation and co-ordinations for materials.

Supplier relationship management (SRM):

SRM frameworks generally deal with ordinary associations with the materials providers. SRM frameworks contain eligibility in dealing with quotation and contract processes.

The company can have more intracompany system-That is an enhancement of the fulfillment process of custom ERP software systems and ERP modules. Example of the intra-company system are:-

Customer relationship management (CRM): 

CRM frameworks work with an organization’s ERP framework with those of its customers. CRM frameworks cast organizations with abilities to oversee showcasing, deals, and client administration. These frameworks are an elaboration of the contentment procedure of ERP frameworks.

Features of CRM –

Priorities Activities- Prioritize the follow-up activities in the pipeline and meet your targets with efficiency.

Track your sales activities- Track the sales stages easily and efficiently via the sales pipeline Kanban view.

Schedule Meetings- Schedule meetings directly from the convenience of the customer.

Dashboards- Get all the obligatory details of ‘in progress’ and ‘accomplished business activities’ in your Dashboard

Get in touch with customers- It maintains communication with customers via email, phone, chat, and social media within your Odoo CRM software development.

Leads Promotion- Start campaign by causation auto-generated emails to customers in Leads and Assign a salesperson to follow the lead and retail it to you.

Opportunities Analysis- In this, you can analyze your opportunities through a pipeline with advanced filters, grouping, drill-down, etc.

Lead Scoring- Score your leads supported explicit and implicit criteria and determine which lead satisfies the benchmark to become an opportunity.

Modified Alerts- Set custom alerts for opportunities supported few activities.

Analyse Opportunity lost- Analyse the explanations behind the loss of opportunities and improve your sales potency.

Automate routines and Focus on sales- It automates your routine business activities, therefore, there is no need to waste time maintaining data.

Product life-cycle management (PLM):

PLM frameworks help organizations to observe the procedures of research, plan, and item the board. They help to take new item thoughts from the virtual drawing board all the way to the manufacturing unit.

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