Enterprise Resource Planning (ERP)

What is Enterprise Resource Planning (ERP)?


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

You Might Also Like

This is some text inside of a div block.

Universal Product Code (UPC)

What is Universal Product Code (UPC)?

A Universal Product Code (UPC) is a graphic and numerical code printed on retail packages and is often referred to as a barcode.

This is some text inside of a div block.

Free Cash Flow (FCF)

What is Free Cash Flow (FCF)?

Free cash flow (FCF) is a measure of a company's financial performance that represents the amount of cash generated by the business after accounting for capital expenditures required to maintain or expand its operations.

This is some text inside of a div block.

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.