Technology is full of acronyms, some are easily recognised and understood, others require a little bit of explanation.
Enterprise Resource Planning, commonly known as ERP, is one of those that requires a little more detail to flesh out the bones.
ERP is basically business process management software that allows a business to use a system of integrated applications to manage the business and automate numerous back office fuctions that are related to technology, services, and human resources.
One of the roles of ERP is to help facilitate the flow of information so that business decisions can become more data driven. To this end, ERP suites are designed to collect and organise data from various levels of an organisation in order to provide insights.
Modules can be used to monitor and manage supply chain, procurement, inventory, finance, product lifecycle, human resources, and numerous other components of a business’s operations.
A core requirement of an ERP system is that it is highly integrated with other software that an organisation uses.
Some of the leading ERP vendors include SAP, Oracle, Infor, Sage, and Microsoft.