Enterprise Resource Planning, or ERP. It is a software for business process management that permits organizations to use integrated applications in order to automate back office functions, services, and human resources. Essentially, a ERP system or  software allow businesses to manage all of their operations effectively and efficiently. It can include product planning, manufacturing, development, marketing and sales.

Benefits of ERP System

The main benefit of using an ERP system is that all of this can be operated via a single database. The software is thought of as an enterprise application, due to the fact that it was designed for larger businesses. Often it requires a team dedicated to analyzing the data and customize the system. Someone has to handle upgrades and deployments. However, there are small ERP applications available for smaller businesses, and it offers a lightweight software that is usually customized for your industry.

The software itself consists of multiple modules, which are individually purchased. You select your enterprise software modules based on the needs of your organization, as well as your technical capabilities. Each module will focus on one area of your business processes, such as marketing or development.

The software can be used to handle the various task, including supply chain management, configuration, pricing, financial data accuracy, employee life cycle, assess needs of the business, manage payroll and human resources, accounting, standardizing critical business procedures, simplify better project planning, and much more.

The most common ERP modules are those used for material purchasing, inventory control, product planning, distribution, accounting, finance, HR, and marketing.

Popularity of an ERP system

ERP has become increasingly popular, and as such many software applications are emerging to allow business managers to implement ERP across other business activities. Additionally, it is possible for modules to incorporate business intelligence and CRM (customer relationship management) to create one complete package even though ERP and CRM are two distinct areas.

While ERP has become more popular, the field tends to be slow to change. However, new trends in the last few years are changing the face of everything.

Mobile ERP provides employees and executives real-time access to all of the latest information, no matter where they are. Mobile ERP offers businesses access to dashboards, reports, and all key processes in order to keep the business ticking, regardless of whether you are on the road or in the office.

Social ERP harnesses social media. Whatever fence you sit on with regards to how important social media is to your business, Social ERP integrates your social media with your enterprise resource planning.

When it comes to choosing Types of ERP System for your business, there are three tiers to choose from, dependent on the size of your business.

• Tier I encompass large enterprises, and the main options for ERP systems come from Microsoft, Oracle, and SAP.
• Tier II has been designed for mid-market businesses, and vendors include Epicor, Sage, IFS, QAD, and Infor.
• Small businesses fall into ERP’s Tier III category, and the Tier III vendors include NetSuite, Syspro, Exact Globe, Visibility, CDC Software, Consona, Activant Solutions.

Apart from Understanding Basics of ERP system and knowing the overview of Enterprise Resource Planning,  The list from Software Advice has vendors alongside the price rating and ratings from users, which may help you narrow down your options to ensure that you make the right choice for your business.