In this paper we establish a very close link (in terms of von Neumann's coordinatization) between regular modules introduced by Zelmanowitz, on one hand, and von Neumann regular rings, on the other hand: we prove that the lattice $\mathcal{L}^{fg}(M)$ of all finitely generated submodules of a finitely generated regular module $M$, over an arbitrary ring, can be coordinatized as the lattice of all principal right ideals of some von Neumann regular ring $S$.