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ERP has helped around 95% of companies to improve their overall processes.
– ERP 2018 Report
When you do a simple google search on ‘ERP’, you will be bombarded with too much information, which might seem daunting at first. Every other blog and website has its own definition and explanation of what an ERP system is.
But this does not mean, any of them wrong. Rather ERP system is a such complex and powerful business tool that it can be defined in a number of ways.
Here we have defined what ERP system essentially is, in the easiest words we could find.
What is ERP?
The term ‘ERP’ was first coined by Gartner in 1990. ERP stands for enterprise resource planning. An ERP is a software that is used by businesses on a daily basis to manage their regular business operations, which typically include:
- Project management
- Accounting
- Supply chain operations
- Procurement
- Risk management
- Marketing operations
- Customer relationship management
- Human Resources management
A complete ERP suite is a solution that helps the CEO or managers in running the business in a more effective manner, in all aspects of the business. ERP systems combine the otherwise different operations of business under one roof and enable a much smoother and seamless flow of data among them.
An ERP system helps businesses in collecting data from multiple sources and then combining them at one common platform, helping managers in getting a better picture about how the business is working; both externally and internally.
All ERP systems have a shared database that enables all the applications to play their role proactively.
96% of emerging businesses that excel in their respective industry rely on some form of ERP solution.
– Simplify Life at Work
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