Summary- Today, with the rising competition in the market, organizations have been focusing on deploying ERP to attain success and desirable profits. However, it has become essential to understand various ERP sales modules and deploy them to carry out respective business operations. So, let us see the 8 core features of ERP sales modules you should consider.
ERP sales modules is one of the most essential elements of a business since it helps handle all business activities for export/ domestic sales of an organization. The customer, as well as product databases, are stored and well-maintained in the ERP sales modules. However, the ERP sales modules also involves a few steps including sales and marketing, order placement, dispatching, getting inquiries, and order scheduling.
Let us learn about the 8 important core features of ERP sales module in this post.
1. User Database
Usually, the account name with which your business is associated is classified as ERP prospect, suspect, or customer. However, the users can easily be grouped within the ERP database in order to create a baseline. On the other hand, advanced delivery tools would encompass tools such as prospecting tools, connected customers, and sales pipelines.
2. Quotations
The basic structure of quotes in the case of ERP sales modules is quite similar as per the order. While there has been no agreement to deliver. However, quotes usually get a closure date once the quote is not valid. After the completion of the negotiation period, the ERP sales module would help convert a quote into an order.
3. Credit Limitations
Whenever orders are to be delivered prior to payment, a company can set a credit limit for every customer. However, this would call for an alert in the ERP system whenever orders are exhausted. The system limit can call for shipments to be conducted till payment is received for those orders that are shipped and are yet to be paid.
<<Also Read: Add-on modules in ERP Software and their benefits>>
4. Multi-layered sales order
It is another important sales module. When an order is taken, there is some product description mentioned along with the sales amount. However, these description lines can be divided into releases where a small piece of description may have various delivery dates along with different quantities. Also, a sales order might have a request date wherever the customer would need that product.
An ERP system can also aid multi-layered configuration while setting up correctly. However, the approved date can also be set in ERP like a shipping/ delivered date along with the transmitting process.
5. Forecasting sales
The sales prediction is another aspect of the sales module. It includes expected future sales by the consumer. A lot of ERP systems involve a number of statistical models to showcase the future from previous sales patterns. However, these models should project future sales as per the previous past patterns. These predictions are made based on the order history, growth projections of customers, supply chain type, and more. Also, forecasts are implemented to forecast order demands required to schedule future capacity or even component purchases.
6. Backlog
An ERP software should offer a database that will be query-able regarding all open orders. This is all sequenced by the due timings. Additionally, those orders to be executed in the next month might not have any systematic or immediate plan and this is exactly where the quality, as well as production control models, comes to the scene.
7. Sales region
It is an important element of ERP sales modules. An ERP software can offer geographic or even similar sales breakages through a salesperson. Also, every person who is selling will take a specific territory in the system. The person will be solely responsible for bookings, orders, as well as, backlog in that particular region.
Even if you do not have at all a sales-driven business, fetching knowledge of the tremendous efficiencies connected with ERP sales modules can give an immense impact on the ROI system.
8. Return Material Authorization
While choosing an ERP software, you should also look if it offers RMA i.e. return material authorization. Whenever a customer demands to return a particular shipment, they will be asked for authorization which is typical for negative orders.
The Topmost Benefits of ERP Sales Modules
- Database organization- The sales modules help fetch comprehensive details of your customers while also offering sales, marketing, and customer service data in an organized manner. Moreover, it offers you real-time data as well as accurate decision-making power.
- Error-free sales forecast- The modules can record data efficiently with important factors to consider. The crucial real-time data aids the sales section to perform accurate sales forecasts.
- Sales process layout- It helps build a sales team to see all required information at a single place. This will help salespersons track, monitor, and manage all sales function stages according to the status.
- Improves performance- ERP sales modules can update data, can schedule work, and can easily follow up on notifications regarding the sales process. This way, sales representatives can focus more on making more sales while enhancing the business performance.
- Enhanced internal cooperation- The ERP sales module helps salespeople work together flawlessly. It collects data on every work and shows it in a presentable way. This makes it even easier for everyone to work together. Moreover, the modules help fetch data quite easily while also aiding in decreasing the time required by skipping unnecessary meetings and collaboration.
ERP Sales Module Process
Now., let us see more about the ERP sales module process and how it works.
- At first, the customer starts an RFP (Request for a proposal).
- Then, after receiving the proposal, the sales team reviews it thoroughly.
- During the review process, the sales team sees whether they can offer a proposal to meet customer needs.
- If the requirements are matched, the ERP sales modules team develops a proposal and then sent it to the customer.
- Now, the customer would examine the proposal and would decide to move forward or not.
- With the approval of the customer, the sales team would develop the respective contract and can send it to the customer.
- Again, the customer would review the contract and can decide to move ahead or not.
- On the approval, the customer can start an RPF (Request for a proposal).
<<Also Read: ERP Reporting: 7 Features to Consider for Your System>>
Down the Line
Here, we have seen the core 8 features of the ERP system sales module and how they are benefitting the businesses. An ERP system implementation, as well as its purchase, might be an exciting task at the beginning. But, choosing the right ERP system for your business can make the foundations work well and help you grow your business with the passing time. The best ERP sales modules for your company can meet the requirements while helping you confront the prominent challenges as well as opportunities to showcase growth.
