UBS

Enterprise Resource Planning (ERP)

What is Enterprise Resource Planning (ERP)?

The use of ERP methods and/or software to manage some or all of an organization’s system, process, and planning requirements are referred to as enterprise resource planning (ERP). It’s a high-level company management system in essence. When someone mentions an ERP, they are usually referring to a specific ERP software, also known as business management software, that comprises a collection of programs that work together to run a company.

ERP software encompasses a wide range of operational end-to-end operations, including HR,  finance, distribution,  service, manufacturing, and supply chain management, using a single process and data model.

ERP applications automate and support a variety of administrative and operational business operations in a variety of industries, including a line of business, customer-facing, administrative, and asset management processes.

ERP (Enterprise Resource Planning) is crucial business software that aggregates data from many departments into a single database, allowing leaders to monitor the company’s pulse using a single view of reality. By giving organization-wide visibility that highlights inefficient manual procedures and reveals potential for development, ERP can save time and money.

ERP software is available in a variety of deployment models, including on-premises, cloud, and hybrid. While cloud ERP has become increasingly popular in recent years, the best option depends on the needs of the company.

Before selecting a winner, businesses should ensure that they understand the capabilities, implementation approaches, integration requirements, and total cost of ownership of a shortlist of vendors.

Also, See: Human Resource Management

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