Full form of ERP
Full form of ERP is Enterprise Resource Planning.
ERP is a business management software which is used by most business organizations to improve their performance and quality. ERP is a very powerful and widely used business tool. It is used for storing, managing, collecting and converting the data from business activities like, sales and marketing, planning for product, inventory management, product manufacturing, payment, shipping etc.
The Modules of ERP
For bigger organizations, ERP is a very powerful and useful software. It has many modules and which are,
- Supply Chain Management
- Project Management
- Human Resources
- Customer Relationship Management
- Financial Accounting
- Inventory Management
- Purchasing etc.
The Feature of ERP
The important feature of the ERP system is sharable database which is used for different units that support the different functions. For example, purchasing and inventory can contain the same information.
Benefits of ERP
The ERP software helps many organizations in many ways. And the benefits of ERP are as follows:
It improves financial compliance and reduce risk
Using ERP software, the core business operations become automates.
For doing the jobs more efficiently, ERP facilitates the employees.
Using ERP, the customer service can be increase because it provides one source for relation tracking and billing.
It helps organizations to do improvements because it provides global, real time view of data.