ERP is an acronym for Enterprise Resource Planning, but even its full name doesn’t shed much light on what ERP is or what it does. For that, you need to take a step back and think about all of the various processes that are essential to running a business, including inventory and order management, accounting, human resources, customer relationship management (CRM) and beyond. At its most basic level, ERP software integrates these various functions into one complete system to streamline processes and information across the entire organization.
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Benefits of having ERP system
The majority of organizations have put together their business applications over time and through acquisitions. This usually results in a business application portfolio that does not support the business goals, requirements and processes. An ERP strategy is crucial, as the ERP is the backbone of a business’s operations and the primary system-of-record.
Benefits of having ERP system in any organization:-
- Real-time information for decisions
- Improved Collaboration
- Managed and controlled costs
- Better operational efficiency
- Accurate records
- Increased customer satisfaction
Features of Enterprise Resource Planning (ERP)
An enterprise resource planning (ERP) software package can dramatically improve the way a company runs its entire back office, enabling it to enhance planning, execution, management, and control of a wide range of critical processes. ERP integrates that entire enterprise starting from the supplier to the customer, covering logistics, financial and human resources.
- Mobile functionality
- Financial management
- HCM (Human Capital Management)
- SCM (Supply Chain Management)
- CRM (Customer Relationship Management)
- Delivery methods
- Third-party interoperability
- Ease of integration