Enterprise Resource Planning (ERP) Software
Radiance IT Solution (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology. It usually referred to as a category of business-management software — typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from these many business activities. We provide an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders.
1. Financial Management
This module manages your capital inflow and outflow. It covers standard Accounting & Finance transactions like expenditures, general ledger, balance sheet, bank reconciliation, tax management and payments. The module also generates financial reports for different departments and business units.
4.Human Resource Management
This module features standard HRMS tools like time tracker, timesheet, and database for employee records, job profiles and skills matrix. HRM module may also include performance reviews and payroll system. The latter is closely integrated with the financial management module to manage wages, travel expenses and reimbursements. Some ERP solutions also feature a training or LMS function under HRM.
7. Inventory Management
Also called material management module, it helps you measure stock targets, standardize replenishments and other inventory goals. It uses product serial numbers to track and locate items in your organization. This module is closely integrated with the Purchase module.
2. Customer Relationship Management
The CRM module helps you to boost customer service and, eventually, profit per capita. It manages leads, opportunities and customer issues. Likewise, it provides a 360-degree profile of your customers by consolidating data like their social media activities, purchase history and past interactions with support reps. In an ERP setup, CRM is closely integrated with Sales module to fast track conversions.
5. Manufacturing Management
This modules is sometimes referred to as Engineering or Production. It helps businesses make manufacturing more efficient in areas, such as, product planning, materials sourcing, daily production monitoring and product forecasting. Some of the key functionalities in this module are: Bill of Material, Master Production Schedule, Shop Floor Control and Sales & Distribution Plan. The module is tightly integrated with SCM and Inventory modules especially in areas like product planning and inventory control.
3. Sales & Marketing
The module handles sales workflows like sales inquiries, quotations, sales orders and sales invoices. The more advanced ERP also features taxation rules and shipping tracker. The Sales and CRM modules work together to speed up the sales cycle and earn the company more profits.
6. Supply Chain Management
This modules covers key aspects in your supply chain including purchase order management. It manages product flow from production to consumer and, occasionally, vice-versa for returns or recalls. A key feature of the SCM module is process automation, which streamlines your entire supply chain and makes it adaptive to sudden market shifts.
This module manages the processes involved in materials procurement. These include: supplier listings; quotation requests and analysis; purchase orders; Good Receipt Notes; and stock updates. As such, it functions closely with SCM or Inventory modules.