Enterprise Resource Planning (ERP) is a comprehensive approach to managing core business processes. It involves using specialized software, commonly adopted by medium and large organizations, to efficiently collect, store, manage, and leverage data. Essentially, ERP is a suite of integrated applications that offers a unified and real-time view of all essential business processes on a single platform.
This integrated information is accessible to various departments such as manufacturing, purchasing, sales, accounting, and more, facilitating seamless communication and collaboration between different areas of the business. Every department can make necessary updates to the data, ensuring everyone is informed of any changes made.
With an ERP system in place, organizations can effectively manage interactions with stakeholders, monitor cash flow, track raw materials and production capacity, and maintain a detailed record of sales, purchase orders, and payroll. The system's ability to integrate with various organizational systems enables smooth transaction processing, boosts production capacity, and enhances overall efficiency, resulting in accelerated business performance