Cloud-based ERP solutions, on the other hand, are hosted and managed by a third-party provider, allowing businesses to avoid the initial capital expenditure. Instead, they can pay a subscription fee based on their usage, making it a more cost effective option, especially for small and medium sized enterprises. Cloud-based systems can be easily customized and configured to meet the specific needs of a business. Whether it's adding new modules, integrating with other applications, or adjusting workflows, cloud ERP provides the ability to adapt to changing business requirements.
ERP on cloud offers following modules:
The financial module provides a central view of a company’s financial accounts and helps manage ledger entries. It supports complex accounting setups with different account segments and hierarchies. This General Ledger (GL) module can handle multiple companies and currencies, making it easy to combine financial data from different sources. It also includes tools for budgeting, reporting, and analyzing financial performance
The sales module helps manage and track all sales activities in a company. It handles customer orders, manages inventory, and processes payments. It also includes the AR (Accounts Receivable), which allows businesses to manage customer accounts, invoices, credit notes, and receipts. Additionally, it includes tools for credit management, such as setting credit limits and performing aging analysis. The module also features sales business intelligence (BI) tools for generating reports and analyzing performance, making it easier to track sales and improve customer service.
The purchase module helps manage and track all purchasing activities within a company. It includes features for supplier management, creating purchase orders, receiving goods, processing invoices, and managing inventory. The module automates key processes such as vendor evaluation, order placement and tracking, invoicing, purchase requisition, material receipt and inspection, recordkeeping, and report generation. It also facilitates invoice matching with tools like three-way matching and handles payment processing. By automating the generation, modification, and cancellation of purchase orders based on production plans and schedules, the module saves time, reduces costs, and improves efficiency for the purchasing department.
The inventory module helps manage and track a company’s stock levels and movements. It handles inventory management tasks such as tracking product quantities, managing stock locations, and overseeing the receipt and distribution of goods. The module includes features for monitoring inventory turnover, setting reorder points, and managing stock adjustments. It also integrates with other modules, like purchasing and sales, to ensure accurate and up-to-date inventory data. Additionally, the module provides tools for generating inventory reports and analyzing stock performance, which helps optimize inventory levels and reduce carrying costs.
The Human Resource Management (HRM) module helps oversee and streamline employee-related processes within a company. It handles tasks such as attendance entry, leave transactions, and managing new hires. The module also supports salary changes, employee separations, and HR clearance processes. It tracks administrative status and benefits balance, providing tools for benefits administration. Additionally, it includes features for generating reports and analyzing workforce data, aiding in informed HR decisions and improving overall employee management. .
The payroll module manages and automates employee compensation processes. It handles tasks such as calculating wages, processing salaries, and managing deductions. The module includes features for tracking overtime, bonuses, and benefits, ensuring accurate payroll calculations. It also supports compliance with tax regulations and generates pay slips and payroll reports. Additionally, the module integrates with attendance and leave management systems to ensure precise compensation based on actual working hours and leave records. This helps streamline payroll operations, reduce errors, and ensure timely and accurate employee payments.
The fixed asset module helps manage and track a company's long-term assets, such as equipment, machinery, and vehicles. It handles tasks like asset acquisition, depreciation, and disposal. The module includes features for recording asset details, managing asset maintenance, and tracking asset locations. It also helps ensure compliance with accounting standards for asset valuation and reporting. Additionally, the module provides tools for generating reports on asset performance and status, aiding in effective asset management and financial planning..
The manufacturing module helps manage and optimize production processes within a company. It oversees tasks such as production planning, scheduling, and tracking the progress of manufacturing orders. The module includes features for managing bill of materials (BOM), work orders, and production routes. It also helps with inventory management related to raw materials and finished goods, and tracks machine and labor usage. Additionally, the module provides tools for monitoring production efficiency, quality control, and generating reports, which helps improve manufacturing operations and reduce costs
The project module helps manage and track various projects within a company. It handles tasks such as project planning, budgeting, scheduling, and resource allocation. The module includes features for monitoring project progress, managing tasks, and tracking expenses. It supports different types of invoices—simple, normal, and manpower—for accurate billing. The module also manages project contracts, ensuring compliance and proper documentation. Additionally, it provides tools for assigning roles and responsibilities, setting milestones, and generating project reports, helping ensure that projects are completed on time and within budget.
The ticketing module helps manage and track customer support and service requests. It handles tasks such as ticket booking, processing purchase orders (POs), and managing ticket receive notes. The module also supports PTA requests, where employees can request tickets. It includes features for handling credit notes and airline-related tasks like bookings and adjustments. Additionally, the module provides tools for categorizing and prioritizing tickets, tracking their status, and generating performance reports.