27 Oct 2021
Enterprise Resource Planning System (ERP System) is obviously a great assistant for companies in many industries to survive in this competitive era, including the services sector. The solutions help service firms automate the business processes as well as modernize the company’s infrastructure. However, among various ERP modules, which ones are the most suitable for them? Here are the best fit ERP service modules that service companies can consider!
Contract Management
Contract Management assists service firms in effectively controlling their contract department’s whole workflow. The feature centralises all information about each and every contract status in a web-based system. After receiving official confirmation from the client, the information will be converted from a contract quote to an active contract just through a simple click. Therefore, service firms can manage every contract’s life circle, including active, revised, terminated, and expired statuses, as well as adequate tracking.
A contract management system also helps service companies to manage their billing process better. It automatically picks and generates invoices when they are due with a variety of billing frequencies (monthly, bi-monthly, quarterly, bi-annually, yearly,…). In addition, it can be fully integrated with many other modules like operational assets, fixed assets, financial, inventory management,…
Equipment Servicing Management
Equipment Maintenance Management enables organizations in the servicing industry to improve operational efficiency. The solution provides everything from an online scheduler to a checklist & machine tracking for servicing. This ensures correct preventive maintenance, resulting in a longer lifespan for expensive equipment and providing a clear picture of the servicing history records for the service team.
The system also provides approval features to ensure that all of your customers receive high-quality service. Servicemen will fill out service performance forms. Then the system routes these forms to management for approval before sending them to billing. Managers can use this to check that the servicing was completed and priced properly, thereby enhancing client feedback.
Customer Relationship Management
CRM solutions are able to facilitate service firms’ sales activities. The solutions allow users to keep track of sales processes, empower sales pipelines, automate essential processes, and analyze sales data in an integrated system. As a result, companies can create a trustworthy step-by-step sales procedure for all employees.
Moreover, the feature also helps service firms deliver better customer service. It records and categorizes customers’ important data such as demographics, purchasing histories, etc. This ensures that all employees can follow up with their customers’ real-time information to cater to their requirements in time and then increase their satisfaction.
Accounting Management
Thanks to Accounting Solutions, service firms can manage their cash flow better. The solution allows them to record and follow up with accounts payable and accounts receivable. Moreover, the system centralizes all clients’ accounts receivable information, allowing for rapid access to all outstanding bills. It also protects the company’s cash flow from being endangered by alerting the financial controllers and salespeople whenever any orders for a customer are due to be generated.
The accounting module provides companies with real-time financial data. Therefore, they can devise the most effective methods and plans for improving their financial management. Additionally, the solution also allows users to construct and customize their own financial statements to meet their own needs. This can improve financial position monitoring and analysis.
Human Resource Management
Human Resource Management System helps manage employee performance and salaries in professional service firms. Every employee has an ID code that enables managers to track their performance and working process at any time. In addition, the feature assists HR managers in generating payslips for each employee more simply. The payslip includes all pertinent details such as base salary, overtime pay, deductions, claims, and the final net wage.
HRM modules also can help service firms give the right training/courses to the proper group of employees according to their type or position. The module saves all progress and both employees and managers can keep track of it.
Business Analytics
Business Analytics allows companies to create servicing reports more simply with the ease of access to accurate and current data from databases. All they have to do is ‘drag and drop’ components of data that they want to analyze. As a result, service firms can save money as they do not need to hire an expert to create a report template.
Service companies will be able to track, measure, and monitor the performance of numerous business operations and organizations. Therefore, they can compare the performance of various business units using statistics or visual graphical representations, and thereby making rapid and crucial business choices.
Conclusion
Briefly, ERP solutions can help service firms manage their business more efficiently as long as they choose the right modules. Proudly being one of the leading ERP vendors in Singapore, Synergix Technologies provides all 6 ERP Service Modules above in our integrated and customisable ERP software. Do not hesitate to find us if you want to automate your service company.
Grant
To help service businesses embark on the digitalisation journey, the Singapore Government has released Productivity Solution Grant (PSG) and Enterprise Solution Grant (EDG) with the maximum support of up to 80% of the qualifying cost. The maximum support of these grants will expire in March 2022, so don’t pass by this opportunity.
Contact us now for more information!
