What Is ERP? Overview In 200 Words

  • Posted on : November 21, 2019
  • Author : SPEC INDIA
  • Category : Software

ERPERP is business management software that collects, stores, manages and interprets data from many business activities.

The organization can use ERP as single system to manage business processes rather than having a bunch of different specialized applications.

The concept of ERP dates back as far as the early 1900s when the system was used to organize manufacturing processes.

It relies on a central relational database to collect business information and store them in tables.

Characteristics:

  • Modular Design
  • Flexible and Open Database
  • Automatic information generation
  • Reporting
  • CRM
  • Accounting
  • Tracking and Visibility

Businesses need an ERP system when the spreadsheet and siloed software system are not compatible and they need functionalities of unifying systems for growth.

Benefits:

  • Improves the company’s performance
  • Increases efficiency
  • Makes decision faster with fewer errors
  • Follows standardized process

Limitations:

  • Difficult to implement
  • Incurs high cost
  • Customization can be problematic

ERP vendors do offer configuration options that let organizations incorporate their own business rules.

ERP deployment includes:

  • On-premises ERP
  • Cloud ERP
  • Hybrid ERP

The type of ERP business chooses depends on requirements, budgets, convenience, and what works the best for the company.

A Good Read: The Best ERP

Author: SPEC INDIA

SPEC INDIA, as your single stop IT partner has been successfully implementing a bouquet of diverse solutions and services all over the globe, proving its mettle as a boutique ISO 9001:2015 certified IT solutions organization. With efficient project management practices, international standards to comply, flexible engagement models and superior infrastructure, SPEC INDIA is a customer’s delight. Our skilled technical resources are apt at putting thoughts in a perspective by offering value-added reads for all.