What is Enterprise Resource Planning?

What:

Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.

Why:

An ERP system may help you streamline your entire organization’s work and centralize your data, allowing for more accurate reporting and a more productive, collaborative, and data-driven work environment.

When:

For many growing businesses, when it grows the amount of data generated increases gradually, and tracking data sources is important nowadays to run the business smoothly. Managing all that information across multiple platforms becomes costly, time-consuming, and prone to mismanagement.

Enterprise resource planning (ERP) is used by organizations looking to manage their business functions within a centralized and integrated system. ERP is commonly used by companies working within the supply chain to help keep track of all the moving parts of manufacturing and distribution and the companies deal with huge databases.

Example of ERP software:

Oracle ERP Cloud, Acumatica Cloud ERP, BizAutomation, SAP S/4 HANA, Oracle Netsuite ERP, SAP HCM, etc.

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