ERP stands for Enterprise Resource Planning, the term was coined in the 1990s by Gartner, and the concept of ERP developed throughout this decade and into the next. An ERP system acts as the core infrastructure, the part which centrally collates and processes the information from an entire business. Integrated applications that can you can add to an ERP system are components required to manage the operation of day-to-day business activities. Processes in areas such as – finance, inventory management, CRM, sales, HR – and the list goes on, varying depending on your organisation.
The purpose of an ERP system is simple. It allows you to manage all business processes in one single unified system. Information transfers throughout the business seamlessly helping departments to move away from siloed working. You can share data at the correct levels and more often than not, in real-time, which aids decision-making.