Enterprise resource planning or ERP is a software that allows companies or organizations to manage the entire business organization using a system of integrated applications. ERP software systems usually cover aspects such as development, manufacturing, sales and marketing.
The ERP software is made up of modules. Each ERP module is focused on one aspect of the business and oftentimes, these modules are individually purchased according to the needs and technical capabilities of the company or organization.
Some of the common ERP modules are the following:
- Order management
- Inventory management
- Warehouse management
- Manufacturing management
- Financial management
- Business Intelligence
- Project accounting
There are various companies that sell ERP systems. While it might be feasible for organizations who have the technical expertise to buy their ERP modules from different suppliers, it is better to buy all of the business’ ERP modules from one single company that exclusively develop, sell, implement and support such ERP system.
Because ERP systems encompasses many aspects of the business, the data that they provide help streamline the operations, increase profitability and gain a strategic competitive advantage.
Among the popular vendors of ERP systems are SAP, Oracle, Microsoft, Sage, Infor, QAD, IFS, Lawson, Epicor, Consona, Exact Globe, Syspro, Visibility, CDC Software, Activant Solutions and NetSuite.