What is ERP?
ERP stands for Enterprise Resource Planning. The business of ERP is to manage business practices and technology. There are three main components that make up ERP, besides the letters ?E?, ?R? and ?P?: Business Management Practices, Information Technology (IT) and Specific Business Objectives.
Simply put ERP software helps businesses automate, manage and store every conceivable business process and bit of information, in one database. ERP systems are massive software architecture that supports the collection, streaming and distribution of business-wide information across all departments. Companies can use one ERP solution with company branches across continents, with the right ERP deployment options.
ERP solutions are designed to be centralized data banks that acquire and supply information into and out of a universal computing platform.
Information is difficult to organize and manage in multi-employee businesses. Usually information management and storage is only made possible with several servers and business software solutions. Implementing an ERP solution will help companies enhance performance, speed and competence with only one software solution.
ERP software can help facilitate the management of enterprise wide functions such as: Human Resources, Supply Chain Management, Customer Relationship Management, Finance, Manufacturing Warehouse Management and Logistics. Instead of choosing several standalone software solutions, businesses can cover all their bases with an ERP solution.
In order for a system to be considered ERP, it must give users a business-wide collection of functionalities with features like flexibility, modularity and global focus.
Integration is another key feature of an ERP System. The objective of an ERP system is to integrate information and processes across multiple business divisions and merge it into one system for easy access and simplified workflow.
ERP solutions are designed to optimize efficiency, speed and productivity. Life before ERP solutions consisted of isolated software for each department in a company. Using isolated framework prevented companies from synchronizing information and hampered productivity and speed. Having one integrated ERP system with cross-departmental capabilities would give users access to all information in one instance, standardized information exchange formats, access to a complete overview of the enterprise functioning, global decision optimization and time-saving solutions.