What is Enterprise Resource Planning (ERP)?
ERP is an industry term for a set of integrated business processes supported by integrated multi-module application software that enables an organization to manage their business. The organization determines by their business requirements which modules are needed to operate their specific business. A module is a business function for example, Accounts Payable, Accounts Receivables or Benefits. The modules are each built on best business practices for that specific business function and are configurable for the specific business needs of the organization. Typically, an ERP system uses a relational database system to store, process and monitor information.
Enterprise Resource Planning: Enterprise Resource Planning (ERP) refers to a broad set of business process solutions and is most commonly referenced in the context of commercially available software systems. ERP systems provide information technology applications that support the operations of an enterprise. These operations may include financial, sales and distribution, materials management, human resources and other functions. Although the term ERP refers to a software system, it also encompasses how business processes are performed. ERP systems support the modernization and optimization of systems and applications through the deployment of best practices and business processes across the enterprise.
