Enterprise Resource Planning (ERP)

What is Enterprise Resource Planning (ERP)?

Operations

ERP stands for "Enterprise Resource Planning". It is a type of software system that allows businesses to manage and integrate their core business processes, such as accounting, procurement, inventory management, human resources, customer relationship management, and more.

ERP software typically provides a centralized database that can be accessed by different departments within an organization, allowing them to share information and collaborate more effectively. By integrating business processes and providing real-time visibility into operations, ERP systems can help businesses optimize their operations, reduce costs, and improve decision-making.

ERP software can be customized to meet the specific needs of different industries and organizations, and may be available as cloud-based or on-premises solutions. Implementation of an ERP system can be a complex and time-consuming process, but can ultimately lead to significant improvements in business performance and efficiency.

More Terms

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Free Cash Flow (FCF)

What is Free Cash Flow (FCF)?

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Comma Separated Values (CSV)

What is Comma Separated Values (CSV)?

Comma Separated Values (CSV) is a file format commonly used for storing and exchanging tabular data between different software applications.