• ERP (Enterprise Recourse Planning)

    ERP (Enterprise Recourse Planning) system is used to integrate all the business verticals and processes across an entire organization to make it more synchronized, Harmonized and cost effective.

    Enterprise Resource Planning (ERP) covers the techniques and concepts employed for the integral management of business as a whole, from the viewpoint of effective use of management resources, to improve the efficiency of an enterprise.

    The various Enterprise applications used in an organization are

    • Customer Relationship Management
    • Financial Management and General Ledger
    • Procurement and Purchasing
    • Billing and Receivables
    • Human Resource Management
    • Supply Chain Management
    • Financial forecasting
    • Portals and Knowledge Management
    • Project Management

    This below diagram explains the basic structure of ERP system

    ERP System

    ERP Definition

    ERP Application is multi-module application software which integrates different activities across different departments across an organization. It provides a much more efficient IT platform than the old legacy platforms with much lower cost and higher effectiveness and efficiency.

    ERP (Enterprise Resource Planning) is a business management system which integrates all the important aspects of business across the organization. Supported by multi – module application software which embracing Product planning, purchasing the required parts, maintaining inventories, interacting with material suppliers, providing customer services and tracking orders. Moreover it caters to different business verticals like Finance and Accounting, Human Resource, Operations, Project Costing, Sales and Marketing and Customer Service etc.

    Main Features of ERP

    • Modular – each module represents a functional area eg. Purchase, Finance, HRMS etc.
    • Integrated – relationship between modules in-built. Transaction updates work on all areas seamlessly
    • Flexible – Allows both big-bang and incremental implementations
    • Software package covering major organizational systems. All areas are integrated seamlessly
    • Properly tested suite of programs.
    • General package applicable to most industries
    • Have best benchmarked processes.
    • Usually have a clear technology roadmap
    • Can be easily deployed but in the manner recommended.

    Main ERP Vendors are as follows

    • Oracle (Acquired PeopleSoft and Siebel)
    • SAP
    • Microsoft Dynamics

    Why ERP?

    In a rapidly changing environment, various organizations including the Fortune 500 companies have realized that, it is challenging to generate and maintain customer designed software package which caters to each and every standard requirements as well as contains all the latest features. Due to voluminous data, multiple departments and business complexity, it is very difficult to develop package software from scratch.

    To resolve the same and have a centralized software package, they have chosen ERP packages which offer all the benefits in one package. Enterprise Resource Planning (ERP) is a boon to organizations that were in need of this kind of facility for ever.

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