what is enterprise resource planning

Enterprise resource planning (ERP) is a type of software system that helps organizations automate and manage core business processes for optimal performance. ERP systems are complete, integrated platforms, either on-premises or in the cloud, managing all aspects of a production-based or distribution business. ERP software coordinates the management of main business processes, often in real-time and mediated by software and technology. ERP systems include a variety of different modules, each supporting specific business processes such as finance, procurement, or manufacturing, and providing employees in that department with the transactions and insight they need to do their jobs. Every module connects to the ERP system, which delivers a single source of truth and accurate, shared data across departments. ERP systems support all aspects of financial management, human resources, supply chain management, and manufacturing with your core accounting function. ERP software offers single-system solutions that integrate processes across the business, allowing users to interact within a single interface, share information, and enable cross-functional collaboration. ERP systems are used by companies to manage and integrate the essential parts of their businesses, and they offer many benefits such as improving accuracy and productivity, eliminating redundancies, and improving operations.