Enterprise resource planning (ERP)
Essential for success in modern businesses, ERP is a type of software that integrates the management of day-to-day business operations such as:
• Finance and Accounting
• Human Resources
• Customer Relations
• Inventory and Product Management
Connecting these operations under one suite can boost company efficiency and allow for real-time assessment of core business processes. A range of data is collected and analyzed by the software of ERP, meaning the user is able to track resources, production and finances across different sectors of the business continuously. While ERP was at one time considered an enterprise-only tool, a broader ERP definition includes suites available to businesses of all sizes.