Enterprise Resource Planning (ERP) Software

Enterprise Resource Planning (ERP) software are digital solution packages that enable companies to integrate and manage their business processes on a single unified system. Such types of centralised management platforms allow managers to visualise, monitor, and allocate resources for specific operations. These may relate to procurement, inventory management, distribution, sales, marketing, finance, human resources, and customer relationship management. ERP systems are used by professionals in a variety of fields, such as accounting, warehouse management, inventory control, purchasing, and project management. With these tools, managers can access and utilise inventory, order, finance, project, and facilities data from the same dashboard. For example, they can be used to draft quotes, place orders, generate estimates, send invoices, carry out appraisals, monitor inventory across warehouses, assign tasks, manage projects, access customer experience data, and generate performance reports. ERP systems can help streamline communication across departments and branches, improving business insight and lowering operational costs by helping to implement best practices. They facilitate the flow of information between business areas via real-time data updates and reports, consolidating such data, optimising data integrity, and helping to lower compliance risk. They can also help simplify the software infrastructure, potentially helping to reduce the number of tools needed to run a business and lowering management costs. Typical features of ERP solutions include billing & invoicing, financial management, project management, reporting/analytics, and supply chain management. ERP software is related to Business Management Software, MRP Systems, Supply Chain Management Software, Inventory Management Software, and Manufacturing Software.