ERP or Enterprise Resource Planning are packaged but customizable software application used to manage data from various organizational activities and provide a fully integrated solution to major organizational data management problems. ERP Integrates your entire business process - Orders, Inventory, Accounting, Logistics, etc.
There are several drivers which influence companies to invest in ERPs. Broadly speaking the benefits can be classified into three groups:
Improve business process, accurate and timely information
Management Information System
Drilling down the three groups the other driving factors are:
Seamless integration of all major business processes
Improves management of inquiries/orders
Replaces legacy system
Improves interactions and communications with internal and external customers
Quick information retrieval
Improves Management Information System
The Features which differentiate ERPs from other low end accounting software are:
Process Automation capability
Reliability and security features
Though SMEs are small in size and turnover, they almost have the same business functionalities as that of a large company. They continue to have multiple offices in various locations, they have started to realize the need to integrate all the internal departments within the company.
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