Read out the article to get a sound knowledge about the ERP sales module and its related terms.
ERP Sales module implements functions of order placement, order scheduling, shipping, and invoicing.
This module helps in sales planning too. Sales planning determines the sales rates the company must maintain for its product lines to meet the strategic plan.
Most of the ERP systems available in the market today have an ERP Sales module.
This module works with the logistics system of an organization. It also interacts with CRM systems.
This module handles marketing and distribution too. In the case of SAP, sales and distribution are a component of the logistics module.
The ERP sales module integrates with organizations’ e-commerce websites. Many ERP vendors offer an online storefront as part of the sales module.
ERP marketing module along with CRP (customer reference program) supports,
- Lead generation.
- Direct mailing campaign.
- Other marketing works.
- Scheduling of the promotion is possible using this.
ERP Sales module features
- Check the price of goods and services like rebate or discount, which is given to a customer.
- Check the availability of a product in stock.
- Generating bills or invoices.
- Determine the details of materials based on conditions.
- A simple credit check and automatic credit check for managing the credit limits of the customers.
- Determine the details of customers based on different conditions.
- Determine and manage information about salespersons.
Detailed functionalities list of ERP sales module
- Handles pre-sales and sales activities of the organization.
- Complete stock-to-dock tracking of the sales order processing cycle.
- SalesForce Automation. Prospect tracking through various stages. Detailed location-wise competitor product information. Scheduling marketing executives’ visits, tracking expenses.
- Marketing surveys for estimating the demand for various products. These surveys will help in preparing an effective marketing strategy.
- Detailed customers, business partners, dealers database. These entries include bank details, TDS details, contact details, and credit limits.
- Target setting for executives.
- Order amendment history.
- Authorization of orders and invoices.
- Order scheduling over a period of time and tracking delivery schedule.
- Order tracking through status and transaction reports.
- Generation of production advice to plan for production based on sales orders.
- Order processing based on the maximum retail price (MRP).
- Preparation of dispatch advice.
- Many dispatches against single sales orders (SO).
- Invoice generation with advance adjustments, sales vouchers automatically generated in finance.
- Tracking sales returns.
- Association of customers to marketing executives and business partners for tracking.
- Flexibility to define customer-specific prices for products and reference to customer part number.
- Multiple dispatch locations for customers and dealers.
- Complete export documentation for export-oriented companies.
- Excise details. (chapter number associated with excisable products)
- Inquiries from potential and existing customers.
- Quotations and amendments to quotations with complete history.
- Analyzing lost jobs.
- Different types of orders can be generated to suit the varied needs of customers.
- Order entry for direct/scheduled/open/D3 sample orders. This will also be with details for dealers, incentive percentage, and compensation.
- Order calculation based on price offered discounts (line and total), excise, taxes, freight.
- Letter of credit details for association with sales orders.
- Rejection invoice for rejections made against purchases with excise consideration.
- MIS for analyzing sales trends to project and forecast sales.
- Stock transfer between warehouses for multi-location companies.
- Service invoice for services given to customers.
- Variance reports.
- Enables top view – consolidation of sales data for all child companies.
- CRM integration through the Internet. Posting inquiries and sales orders on the web by customers. Importing the same into ERP after validations.
ERP Sales module is an essential function for an organization. Sales handle all the activities for domestic and export sales of an organization.
The customer and product database are maintained in the ERP sales module. The module facilitates sales cycle steps. Broad steps include,
- Capturing inquiries
- order placement
- order scheduling
Stock transfer between warehouses is also covered.
Besides all this, essential analysis reports are provided. These reports guide decision-making and strategy planning. You can also generate report documents and export them.
Benefits of Sales module
Here I am listing the benefits of the ERP sales module for B2B businesses.
Database organization: This module allows you to have complete details of your customers. It provides sales, distribution, marketing, and customer service data in an organized form.
It also provides you with accurate, real-time data that helps you in decision-making.
Detailed and error-free sales forecast: This module records the data effectively with all essential things. This efficient and real-time data helps the sales department to do accurate sales forecasts.
Enhances performance: ERP sales module updates data, meeting scheduling, follow-up notifications, scheduling works for the sales process, etc.
Hence salespeople can concentrate more on sales. It improves their performance.
Improves internal cooperation: The module gathers the work done by the salespeople and presents that data in such a way that all the members of the team can understand what is going on in the department.
It also allows you to access the data easily. It helps to decrease the time consuming by avoiding unnecessary meetings.
Structures sales process: It allows the sales team to view all the required information in one place. So the salespeople can manage, track, and monitor all the sales process stages as per their status.
What is a sales order?
A sales order is a document created by the vendor that includes product or service details, price of the product/services, number of units, and terms and conditions.
Sales order format
Sales order contains the following things.
- Name and address of the vendor
- Name and address of the billing (customer’s billing address)
- Name and address of the shipping (customer’s shipping place address)
- Details about products or services
- Price per unit
- Quantity of each product
- Term or mode of payment
- Tax payable
- The total amount including tax
- Authorized signature
- Other information if any or terms and conditions
How do you process a sales order?
Below are the steps to process the sales order.
- The customer raises requisition for quotation from the seller.
- The seller generates and sends the quotation after receiving the requisition from the customer.
- If the quotation is reasonable and affordable to the customer, he generates a purchase order and sends it to the seller.
- Using the information given in the purchase order, the seller generates a sales order. Then the vendor sends this sales order to the customer to check the terms of the sale.
- According to the order the seller delivers the product or services.
- With the help of the sales order, the seller generates an invoice and sends it to the client.
- The customer pays the amount in the invoice within the specified time period.
Sales order processing in ERP
ERP sales module helps your organization to process the sales order step by step automatically.
- Resource allocation starts to procure raw materials from stock as soon as sales order generates.
- Then the sales order reaches the production department. Finally, once the ordered products are assembled completely, the sales order arrives at the packing department.
- The automated invoice is created when products are ready to dispatch with sales orders, including tax and freight charges.
All these processes go automatically with the help of the ERP sales module.
That helps all the departments of the organization monitor the sales order progress in real-time to schedule their work accordingly.
Get more information about the ERP sales module and other related ERP modules here.