ERP Stands for Enterprise Resource Planning

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Author: Diaraye Sylla

Table of Contents #

What are ERP Systems? #

Enterprise Resource Planning or ERP systems are considered essential tools for big enterprises and are getting utilized in growing start-ups as well. The whole complexity behind the modern consumer demands as well as the global economy has created streamlining enterprising processes, amplifying data, and managing critical. This is where ERP systems play a role.

ERP systems comprise different modules and software components, each of which aims at a distinctive process for business.

How Do ERP Systems Work? #

On a general note, ERP systems utilize a centralized database for a number of different business processes to alleviate any manual labor. It also simplifies the already existing enterprising workflow. ERP systems usually include some dashboards which enable the users to see and monitor real-time data that is collected from all over the business in order to check profitability and productivity.

Why are ERP Systems Useful? #

Think of these systems as the Megamind behind your organization’s tech framework. In the human body, our brain has the control to direct all the body, making sure everything happens in an organized and synched manner. Similar to this, a business is not able to function well without the right ERP system. It helps to integrate well the different facets regarding a business that include manufacturing, product development, sales, and marketing. Through synchronizing all the areas, enterprises are now better able to get more visibility, enhance productivity as well as operational efficiency, alleviate the price, and improve overall competency.

Top ERP Systems in the Market #

  1. Microsoft Dynamics ERP by Microsoft includes a bunch of business apps that help the user control their business and better their results with AI-driven tech supplies.
  2. SAP Business One is an ERP system app that aids the user in managing various business aspects in an affordable manner.
  3. Acumatica software helps the users to centralize all of their money transactions as well as to view the financial status of the company in real-time.

References #

  1. Elragal, Ahmed & Al-Serafi, Ayman. (2011). The Effect of ERP System Implementation on Business Performance: An Exploratory Case-Study. Communications of the IBIMA. 2011. 19. 10.5171/2011.670212.
  2. Grabski, Severin V., Stewart A. Leech, and Pamela J. Schmidt. "A review of ERP research: A future agenda for accounting information systems." Journal of information systems 25.1 (2011): 37-78.
  3. AlMuhayfith, Sara, and Hani Shaiti. "The impact of enterprise resource planning on business performance: With the discussion on its relationship with open innovation." Journal of Open Innovation: Technology, Market, and Complexity 6.3 (2020): 87.

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