Components of ERP

The evaluation of the ERP system in an organization is an important process since ERP systems require timely updates as well as customization. It is important that the evaluation team understands and clarifies the different components. The ERP system Singapore is evaluated on such basis. The different pieces of the ERP are known as modules, each module performs an important function for the organization so its values vary. The fundamentals of the system should be clear to the evaluation team in order to tap into the full potential of the systems.

Financial Management

Finance is an important component or aspect of any business or organization. Hence it is not surprising to find financial management as a major component of an ERP system. It deals with legers, accounts of different kinds, capital and assets. In case the company decides to expand internationally and utilize ERP for better management, then it’s important that the system supports multiple languages and currencies too. It is important to focus on important areas that are instrumental for the expansion or upgrade.

Analytical intelligence

ERP systems have advanced analytical functions and skills. Since ERP allows for easy transfer and sharing of data, it helps in analyzing different aspects of the organization. It also allows users to share and transfer data making access to information very simple and easy. It can be notified in different forms according to the convenience of the users. This function of the system allows different levels of executive to make important decisions regarding the working of the organization. Such automatic reporting constantly feeds the system with important information making the real time analysis of the working of the organization very easy.


This is an important module of the system because of its undeniable importance to the effective working of a business or organization. It improves in the flow of products as well as the necessary material for the organization by carefully planning and scheduling different aspects of procurement and transfer; such as managing distribution, demand and production. It manages and plans out all the functions regarding logistics which allows it be efficient and fast in its working.

Human resource

Without human resource the existence of most organization is a doubtful one. Since it is such an important resource of the organization, its management is also equally important. A system’s module that deals with the work force is its human resource management module. It keeps track of the relevant data regarding the human resource of the organization; it deals with wage bills to benefits of the employees from start to retirement. Hence its evaluation is an important job for the team. The availability of attendance registering is also available in these ERP systems.