what is enterprise resource planning erp

Enterprise Resource Planning (ERP) is a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management, and compliance. It is the integrated management of main business processes, often in real-time and mediated by software and technology. ERP systems can be local-based or cloud-based, and they help integrate and automate business processes, providing a single source of truth and streamlining operations across the enterprise. ERP software coordinates the flow of data between a company’s business processes, linking financials, supply chain, operations, commerce, reporting, manufacturing, and human resources activities on one platform