What is an ERP? - V2 Cloud

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What is an ERP?

Intermediate – Web/Development

Reading Time – 1 minute, 21 seconds

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What is an ERP? Well, it stands for Enterprise Resource Planning. It’s a business process designed to streamline and integrate business processes such as finance, project management, marketing, and manufacturing. ERP is intended to improve managing information and data visibility within an organization.

ERP systems are software applications that help you to achieve these tasks using technology. Those systems manage your organization’s information by collecting, organizing, and storing them for the benefit of your business. Further, the system centralizes all the information of your organization to streamline the business processes by connecting them with each other.

Communicating with suppliers, managing inventory deliveries, making payments to suppliers, and handling quality issues are examples of some of the activities that take place within an ERP system.

The advantages of using ERP systems

Now that you know what is an ERP, here are some of the advantages of using it.

Improved customer service: With an ERP system, you can get a better view and understanding of your customers. You can also use ERP systems to connect to your customers through customer portals. When you have more information about your customers, you can provide better services.

Increased productivity: this software help your employees to work more efficiently because they have the information they need such as customers, orders, products, and services, etc. when they need them. Also, they can be integrated with other most commonly used software applications such as word processors, spreadsheets, and email systems.

Better decision making: this type of software provide data analytics and reporting features that help you analyze and view data within the same system. ERP systems can also provide more accurate budgeting and forecasting information. Hence you can make better decisions more effectively.

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