
Enterprise Resource Planning (ERP)
Enterprise resource planning (ERP) is a platform companies use to manage and integrate the essential parts of their businesses. Many ERP software applications are critical to companies because they help them implement resource planning by integrating all 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.
Integrating and automating business processes eliminates redundancies and improves accuracy and productivity. In addition, departments with interconnected processes can synchronize work to achieve faster and better outcomes.
ERPs allow businesses to quickly access needed information for clients, vendors, and business partners. This contributes to improved customer and employee satisfaction, quicker response rates, and increased accuracy rates. In addition, associated costs often decrease as the company operates more efficiently.