What is Enterprise Resource Planning (ERP)?

What is Enterprise Resource Planning (ERP)?

Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and regulatory compliance, as well as supply chain operations.

A complete set of ERP products helps plan, budget, forecast and report an organization's financial results.

ERP systems bring together many business processes and provide data flow between these business processes.

ERP systems collect corporate transactional data from multiple sources, eliminating data duplication and providing data accuracy with a single source of accuracy.

ERP systems are critical in the management of thousands of businesses of all sizes in every industry today. For these companies, ERP is indispensable just like electrical energy.