ERP Full Form
The Full form of ERP is Enterprise Resource Planning. ERP is a software for business management that is implemented by many business houses to increases their productivity and performance. It is a very powerful and effective business tool. It is used to store, collect, manage and interpret data from many business activities like Product planning, cost, marketing and sales, manufacturing or service delivery, inventory management, shipping and payment etc. For large organization, ERP software is very useful. It comes in many modules like Financial management, Human resources, Supply chain management, Customer Relationship management, Purchasing, Inventory, Project Management. The main feature of an ERP system is a shared database that is used by different units that supports multiple functions. For example: Accounting and supply chain can rely on the same information. The main advantages of ERP system are; It facilitates employees to do their job more efficiently, improves financial compliance and reduces risks, automates core business operations, it increases customer service because it provides one source for billing and relationship tracking and provides a global, real-time view of data that enables companies to do improvements. The Top ERP Vendors are; Sap, Microsoft, Oracle, Infor, Epicor, Qad, Lawson, IFS, Sage and Consona Corp.