Definition of Enterprise Resource Planning (ERP)
ERP stands for " Enterprise Resource Planning " and refers to a type of software or system used by a business to plan and manage daily activities such as supply chain, manufacturing, services, financials and other processes. Enterprise Resource Planning software can be used to automate and simplify individual activities across a business or organization, such as accounting and procurement, project management, customer relationship management, risk management, compliance, and supply chain operations. Individual ERP applications can offer software as a service , while a complete suite of ERP applications forms an ERP SOFTWARE system that can be used to effectively communicate and bring together business processes to enable a flow of data between the applications, typically through common databases either on-site/on-premise or in the cloud. ERPs connect every aspect of an enterprise. An ERP software system allows for better performance and project management that helps plan,