Enterprise Resource Planning (ERP) can very well said to be termed as a “compact software “as it comprises of all the fundamentals required to run a business, such as inventory and order management, accounting, human resources, customer relationship management (CRM), all integrated into a complete system for the efficient and smooth running of the processes and information throughout the business.
The striking feature of all ERP systems is a shared database that supports multiple functions utilized by various businesses. It also provides integrated as well as organized reporting and automation. Generally ERP features also include a portal or dashboard for boosting the employees for prompt business interpretation.
ERP software guarantees for a productive and lucrative business relationship through CRM, which plays a significant role in cultivating a strong bond between the organization and the user. It also provides information that is profitable for the sales as well as helps in budget allocation and forecasting in order to maintain its users to be connected with the demands of the market.
ERP software generally consists of multiple enterprise software modules that are purchased individually, depending upon the specific requirements and technical capabilities of the organization that focuses on a specific area of business processes such as product development or marketing.
There are a number of enterprise resource planning software vendors, subject to the demands and needs of your organization. NetSuite, Exact Max, Epicor and syspro are a few amongst the top listed small business ERP vendors.
Thus, to sum up, ERP software includes and assimilates every function and operation to satisfy the demands of the users.