Why Enterprise Resource Planning (ERP) System
“Enterprise resource planning” or “ERP”
includes enterprise performance
management, software that helps plan,
budget, predict, and report on an
organization’s financial results.
Enterprise resource planning (ERP) is a type of software system that helps organizations
automate and manage core business processes for optimal performance. ERP software
coordinates the flow of data between a company’s business processes, providing a
single source of truth and streamlining operations across the enterprise. It’s capable of
linking a company’s financials, supply chain, operations, reporting, projects, human
resources activities and other on one platform.
ERP systems tie together a multitude of business processes and enable the flow of data
between them. By collecting an organization’s shared transactional data from multiple
sources, ERP systems eliminate data duplication and provide data integrity with a single
source of truth.