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ERP

An Introduction Enterprise Resource Planning

Enterprise Resource Planning, or ERP, is a system that is used to combine all of the information or operations of a company into a single unit. The standard ERP system will utilize both computer hardware and software in order to achieve this. Perhaps one of the most important parts of the ERP system is the central database.

This database will be used to store information from various modules. When the term ERP was originally coined, it was used to describe systems that were designed to use multiple resources. It was commonly connected to the manufacturing industry.

The goal of ERP is to unify the various functions of an institution. It is commonly used by non-profit organizations, government agencies, and other institutions. In order for system to be recognized as an ERP, it must meet a certain requirement. The software must be capable of giving functionality to one unit that would commonly have to use multiple systems.

 

The Business Value of ERP
Gives a global, real-time view of data that can enable companies to address concerns proactively and drive improvements
Improves financial compliance with regulatory standards and reduces risk
Automates core business operations such as lead-to-cash, order-to-fulfillment, and procure-to-pay processes
Enhances customer service by providing one source for billing and relationship tracking.

 
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