Enterprise Resource Planning or ERP is a term used in business management and generally refers to software programs for planning, executing, and monitoring business operations. Many businesses continue to rely on old systems like Excel and even have several other programs as well.
But, this practice is no longer viable. With the passage of time, technology has advanced and so are the needs of modern businesses.
Businesses need an enterprise resource planning system that is flexible, manageable, and adaptable to change. It must enable the organization to do more than cope up with the market environment but also facilitate its growth.
An ERP comes with a host of benefits including cost reduction, improved management control, speedier access to information, superior customer service, reduced errors and omissions, higher inventory accuracy, more accurate budgeting and reporting, increased profitability etc.
ERP implementation for an organization is not a small task because it affects your entire business model.