Enterprise Resource Planning System

Enterprise Resource Planning System

ERP stands for Enterprise Resource Planning

What is the simplest ERP definition?

Think about all the core processes needed to run a company: finance, HR, manufacturing, supply chain, services, procurement, and others. At its most basic level, ERP integrates these processes into a single system. But new ERP systems are anything but basic. They provide visibility, analytics, and efficiency across every aspect of a business. Using the latest technologies, ERP systems facilitate the flow of real-time information across departments, so businesses can make data-driven decisions and manage performance – live.

How Does An ERP System Work?

Computers have become so complex and common place in organizations, it is much easier to integrate all of the data and processing software modules and hardware into one large unit that is easier to access and control. This is called Enterprise Resource Planning, or ERP. Normally ERP systems use the same database throughout an entire company to store various types of data for different computerized functions. When first developed, ERP systems were used only for large manufacturing companies. Today, they benefit all sizes of companies, even those that are quite small.

Benefits of ERP

There are many advantages to implementing an Enterprise Resource Planning (ERP) software solution. Among countless other advantages, implementing ERP software can improve productivity, increase efficiencies, decrease costs and streamline processes. Let’s look at the most common benefits of an ERP system that companies have reported after implementation.

Competition, Efficiency, Forecasting, Collaboration, Scalability, Integrated Information, Cost Savings, Streamlined Processes, Mobility, Reporting, Productivity, Regulatory Compliance, Flexibility, Customer Service, and Security.