How to Use ERP for Sales and Marketing

modern ERP software

Sales and marketing strategies are based heavily on data from modern ERP software (primarily pricing and customer service). However, many people are still not using the software with front-office practices in mind, and purchases made through inbound channels aren’t profitable. Rather than waiting for demand to arise, many forward-thinking businesses are investigating how their ERP system can generate new business opportunities.

The Sales and Marketing module includes pre-sales activities such as contacting customers, tracking customer orders from placement to dispatch of material for that order, raising sales invoices, and receiving payments from customers. The core functionalities of the ERP sales and marketing module are listed below.

Sales order
Shipping includes a delivery note
Keeping track of sales invoices
Returns on sales

You can also take orders for special items using the Sales module. These orders can be one-time or tailored to your specifications. These orders are billed based on the order’s labour cost and materials cost.

Forecasted sales

Customer sales forecasts are estimates of future sales or orders. Many ERP systems include tools for generating forecasts based on previous sales patterns. These forecasts are useful for predicting future orders and, as a result, raw material availability and production planning.

Orders that are still pending

The ERP system can generate reports on pending orders for today, this week, this month, and the following month.

Sales data for a specific location

Sales reports can be generated based on a geographic location and salespeople in the ERP system. Each salesperson is usually assigned to a territory in the system, and he is responsible for all orders, bookings, and backorders in that area. Customers sometimes pay in advance for book orders. The system adjusts for this advance amount by automatically raising a sales voucher.

Accounting and Financial Management

The chart of accounts is generated by a company’s accounting management module based on the types of accounts. The ERP for accounts management aids journal entry by allowing the user to submit multiple entries at once, reducing errors. The management module simplifies the generation of auto numbering for invoices and the configuration of account preferences. To enter the company’s accounting, the management provides a balance sheet, profit and loss statement, general ledger, payable and receivable amounts. The accounting module compiles the inventory valuation, tax depreciation, TDS, GST, VAT, service tax compliance, and financial reporting framework for the company’s benefit.

Purchase and Sales Management

While it is critical for a company to maintain sales, it is also critical to track purchases in order to track growth. The purchase management system can generate a cash purchase receipt for vendors, and the sales and billing management can generate cash sales receipts for customers as proof of payment.

Sales and marketing ERP modules can easily create purchase orders for vendors with payment terms, quantity, and other purchasing information, as well as sales orders for customers with an auto-generated sales invoice. The purchase and sales management system keeps track of all payments made to vendors and customers and issues them receipts for goods purchased.