SAP is one of the world’s leading ERP solutions provider companies. Thousands of companies across the globe use SAP as their go-to solution for employee management and resource planning. For small and medium businesses, however, SAP can be overkill. This is why SAP designed their SAP Business One software that is geared towards catering for the needs of small and medium-sized business owners.
The benefits of incorporating SAP Business One can be the highlight of a separate article altogether. This list is that long. But when it comes to choosing which SAP B1 modules a business needs, the decision can be overwhelming. While SAP Business One is a single tool, it consists of hundreds of modules that are capable of providing different features and functionalities to a business.
However, there are a few modules that nearly every business should have, no matter which industry or customer base they serve. These modules cover basic functionalities that every business faces at least once while operating. Here is a list of some of these must-have SAP B1 modules.
Must-Have SAP Business One Modules
Financial Management
Every business needs to handle their finances efficiently so analyze where they are losing money and which business aspect is generating the most revenue. The Financial Management module of SAP B1 covers around 86% of the financial characteristics a business needs. It allows business owners to manage cash flow and provides end-to-end control of the company’s fixed assets. It helps in budget allocation, business audits, managing bank statements and payments, and can streamline reconciliations as well. This enables businesses to achieve better insights and enhance compliance.
Business Intelligence
The business intelligence module of SAP Business One helps businesses make sense of the heaps of data they collect every day. This is a powerful analytic tool that can create multi-source reports and customize them as per business requirements. Pre-defined business KPIs along with interactive analysis of data provides meaningful insights into every business process. It provides enhanced reports with powerful visualizations to make them easier to understand. Operating the tool does not necessitate any technical knowledge or skill.
Inventory and Purchasing
While these can be opted for as separate modules, having both is recommended for getting complete control over the sales cycle and other related components. This module helps business owners manage purchase schedules for products as well as account payables for the entire order-to-pay cycle. It gives you visibility into the whole procurement process, from order placing through delivery. It enables superior inventory management to help easily manage stocks, incoming orders, and plan sales as well. All the data generated during the process can also be observed and managed in an interactive interface.
Sales and Customer Management
For some businesses, sales and customer management can prove to be the most important aspect. With this module, businesses can efficiently manage their entire sales process as well as the customer lifecycle. The sales team can easily track sales opportunities and keep track of the sales journey of every customer. They may use consumer data to develop and manage targeted marketing campaigns with a high conversion rate. The module can be accessed on the go as well enabling sales representatives to never miss sales opportunities.
Production Planning
Tracking stock locations and transfers is important for businesses. Especially businesses that deal in fast-moving goods and inventory. With the production planning module of SAP Business One, organizations can manage their inventory efficiently as per different costing models. It also covers material requirements and production planning for businesses enabling a transparent inventory control system. It has the ability to gather real-time production data and create reports for products reception and problem control.
Business owners are always on the lookout for improving their business processes, reducing unnecessary errors, and generating more revenue. SAP Business One is a great tool to fulfil that vision and is the reason so many companies opt for it. SAP B1 pricing can be different based on the modules and services selected. This flexibility also goes in the favour of SAP Business One as most businesses have varied needs and objectives that keep on evolving as the business grows. With these modules in place, businesses can empower these evolutions and achieve their business objectives effectively.
