The ChitFund ERP (Enterprise Resource Planning) system is a software solution designed to manage and automate various aspects of chit fund operations. Chit funds are a type of financial arrangement popular in certain regions, where a group of individuals come together to contribute a fixed amount regularly, and the pooled funds are then given out to members as loans or advances in a predetermined manner.Member Management: The ERP system helps manage the details of chit fund members, including their personal information, payment history, bidding preferences, and more. Auction and Bidding: The software facilitates the auction process, allowing members to bid on the monthly amount they want to receive. It keeps track of winning bids, schedules auctions, and calculates payouts. Financial Management: This includes tracking contributions from members, payouts to members, interest calculations, penalties, and other financial aspects of chit fund operations.