What Is Enterprise Resource Planning (ERP)
Enterprise resource planning (ERP) is a process used by companies to manage and integrate the important parts of their businesses. Many ERP software applications are important to companies because they help them implement resource planning by integrating all of the processes needed to run their companies with a single system. An ERP software system can also integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.
ERP solutions have evolved over the years, and many are now typically web-based applications that users can access remotely. Some benefits of ERP include the free flow of communication between business areas, a single source of information, and accurate, real-time data reporting.
Key Benefits:
- ERP software can integrate all of the processes needed to run a company
- ERP solutions have evolved over the years, and many are now typically web-based applications that users can access remotely
- Some benefits of ERP include the free flow of communication between business areas, a single source of information, and accurate, real-time data reporting
- An ERP system can be ineffective if a company doesn't implement it carefully
- Businesses should make sure they understand the capabilities, implementation models, integration requirements and total cost of ownership of a short list of suppliers before picking a winner
- There are several deployment models for ERP software, including on-premises, cloud and hybrid. While cloud ERP has become extremely popular in recent years, which approach is best depends on company needs
Who Uses ERP?
Companies across every industry, with diverse business models, have realized the benefits that come with ERP. Flexible solutions with extensive functionality can cater to a wide variety of organizations and requirements.
Industries that count on ERP to run their businesses include - Advertising and digital media, Education, Energy, Financial Services, etc.