Enterprise Resource Planning (ERP) Definition
- An ERP system is a comprehensive management software used to manage and integrate important business processes and daily operations in an organization or company. ERP helps businesses automate and improve processes such as production, inventory management, finance, human resources, marketing, and sales.
- ERP systems combine functions and data from different departments into one single database. This helps improve management efficiency across the whole organization. ERP applications usually include features like business process management, task automation, data tracking and reporting, and communication with customers and partners.
- Some well-known ERP systems include SAP ERP, Oracle ERP Cloud, Microsoft Dynamics 365, and NetSuite.
- An ERP system includes several main modules, such as:
- Finance & Accounting
- Logistics & Supply chain
- Production
- Human resources
- Project management
- Sales & marketing
- Customer service