Benefits of ERP Software: Advantages, Disadvantages & Selecting an Enterprise Resource Planning System
You may have heard "Enterprise Resource Planning" (ERP) before but never really knew what it meant. You're not alone. A quick search for what an ERP system software does yields pages on accounting, analytics, and even an in-depth Wikipedia article. This post is designed to help you make sense of your options when selecting a new ERP system for your business by outlining the process and understanding how much work it will require. Ultimately this research should help you decide whether or not investing in a new enterprise resource plan will be suitable for your company and if there are any limitations that may prevent its adoption at the present time. First things first: What is an ERP System? According to the experts at IDC, an ERP system is "a set of software applications used by a company to gain real-time access to accurate, up-to-date information. This information is generally related to the firm's financial activities, operations, and supply chain. The t...