Enterprise Resource Planning is a software that manages, automates, and monitors all the tasks and activities of an organization efficiently. It tends to consider all the modules and its sub-modules that could be automated so that business productivity, management, and revenue could be increased exponentially.
The features and functions of an ERP system include;
Accounting and Finance management that manages all the operations related to invoicing and billing in an automated manner.
Procurement of employees, tracking, and monitoring of their tasks and information.
Project management of various projects, tasks, deadlines, and deliverables. It also helps track the performance based on the status of tasks and their completion time.
Risk management as well the compliance regulations in such a way that all the risk could be mitigated, and organizations comply with the standard and imposed regulatory obligations.
Supply chain management operations keep full track of all the tasks related to inventory management, equipment allocation, and resources management efficiently.
What'sERP Software? ERP stands for Enterprise resource planning; all the companies utilize ERP applications, so the sections have the particulars of what's happening in the business at every point. ERP is, in fact, a software which is used to manage a business methodically.
Each module has a job. It tracks money flows, the procedures substances, orders, sales, purchases, and regardless of which department, the applications keep track of all the processes and make a company really simple to run. All the ERP packages are tailored in accordance with the organization if the organization is bigger or small according to the number of workers and users.