Quick Answer
What is ERP?
ERP software unifies core business processes — finance, HR, supply chain, and operations — in a single system of record.
Business
ERP
Also known as: Enterprise Resource Planning
By Glintr Editorial TeamReviewed by Glintr Learn ReviewersUpdated 5 min readArea: Business
Definition
Enterprise Resource Planning platforms like SAP, Oracle, and NetSuite integrate cross-functional data so that a purchase, invoice, or stock movement flows automatically through accounting, inventory, and reporting.
Applications
- Manufacturing operations
- Financial consolidation
- Procurement and inventory
- Human capital management
Advantages
- Single source of truth
- Better cross-department reporting
- Standardised processes
Limitations
- Long, expensive implementations
- Requires organisational change management
Related Concepts
- CRMA CRM is a system that stores customer information and tracks interactions across sales, marketing and support.
- Financial ModelingFinancial Modeling is the practice of building spreadsheet-based representations of a business's finances to forecast performance and value.
- FinanceFinance is the study of how individuals, companies and governments raise, allocate and manage money over time.