Enterprise Resource Planning (ERP)
Enterprise resource planning (ERP) is the integrated business management software that helps manage and automate the main business processes, often in real-time and mediated by software and technology.
The central feature of all such systems is a shared database that supports multiple functions used by different business units. In practice, this means that employees in different divisions—for example, accounting and sales—can rely on the same information for their specific needs.
An ERP system is the glue that binds together the different computer systems for a businesses organization. Without an ERP application, each department would have its own system optimized for that division's particular tasks. With ERP software, each department still has its own system, but all of the systems can be accessed through one application with one interface. Weblogic can help you setup your first ERP system and ensure you never look back.
Benefits of ERP systems
Enterprise Resource Planning offers a plethora of benefits, most of which come from information sharing and standardisation. Because ERP components can share data more easily than disparate systems, they can make cross-departmental business processes easier to manage on a daily basis. They can also enable better insights from data, especially with the newer technologies that many ERP systems are including, such as powerful analytics, machine learning and industrial IOT.
Benefits of an ERP System:
- Can save money over the long run by streamlining processes.
- Provides a unified system that can lower IT-related expenses and end-user training costs.
- Enables greater visibility into myriad areas of the business, such as inventory, that are critical for meeting customer needs.
- Enables better reporting and planning due to better data.
- Offers better compliance and data security, along with improved data, backup and the ability to control user rights.
Typical System Modules
Enterprise Resource Planning applications can help a corporation become more self-aware by linking information about production, finance, distribution, and human resources together. Because it connects different technologies used by each individual part of a business, an ERP application can eliminate costly duplicate and incompatible technology. The core software components, often called modules of ERP Systems often include the following:
- Accounting and Finance
- Supply Chain Management
- Human Resources
- Production Planning/Manufacturing
- Sales and Distribution
- Customer Relationship Management (CRM)
- Asset Management
- Project Management
In addition, most ERP systems have industry specific solutions such as Healthcare, Agriculture, Mining, Education etc.