Enterprise Resource Planning (ERP) meaning and its importance

What is ERP or Enterprise Resource planning?

ERP Means Enterprise Resource planning. A business needs an ERP system when the basic tools are not giving the output and limit business growth due to a lack of connectivity.

“ERP is an integrated transaction processing and reporting system. ERP systems provide the means for tracking organizational resources, including people, processes, and technology. The system serves as the backbone to the organization in terms of providing the information and support required for making decisions.”

Thus, businesses can get a bird's eye view of all the processes on a single screen.

ERP Model helps enterprises to better organize and monetize their processes. It lets a business centralize all its operations. Be it supply chain, financials, human resources, manufacturing, spreadsheets, etc. In Addition, It facilitates data connectivity for your productivity software, e-commerce platforms, and customer engagement programs. It allows you to integrate all of your data for better insights that will help you optimize your business's processes.

Simply controlling your information is just the start. With ERP, you can do much more, including connecting to your customers more effectively through a portal link to contemporary communication tools like power bi for business intelligence or exchange 365 for email. ERP can also communicate with your suppliers' systems, such as EDI, and is flexible, mobile, cloud-based, and secure. Thus, ERP helps you in business management and increases your team productivity, and lets you provide better customer service.