What is Enterprise Resource Planning (ERP)?
Enterprise resource planning, or ERP, is business management software that enables organizations to use one system to manage business processes. Accounting and operations oriented, ERP solutions offer one database for business information.
Why might a company implement an ERP system?
There are a number of reasons companies have for implementing an ERP system for their business data and operations. ERP software connects processes that are disjointed with other programs and offer real-time information. Other reasons include:
- Ability to track resources
- Data security
- Automation of business operations
- Visibility of data throughout the organization
What types of ERP solutions are available?
Simply put, ERP solutions are either cloud-based or on-premise. These terms refer to the manner in which business data is stored and how companies access their ERP system. Cloud-based and on-premise solutions have several distinct characteristics, including:
- Data storage location and access
- Cost and payment