What is an ERP system and why do companies use it?

An ERP system is software that runs the core daily operations of a company, such as finance, purchasing, inventory, production, and projects. It is used to connect these areas in one place so leaders get a single, up‑to‑date view of how the business is performing and can control costs and processes better.

Typical modules include -

  1. General Ledger
  2. Accounts Payable
  3. Receivable
  4. Budgeting
  5. Procurement
  6. Inventory Management
  7. Order Management
  8. Production & Manufacturing
  9. Project Accounting
  10. Fixed Assets
  11. HR & payroll.

Top 10 global players

  1. SAP
  2. Oracle
  3. Microsoft Dynamics 365
  4. Infor
  5. Sage
  6. NetSuite
  7. Epicor
  8. IFS
  9. Acumatica
  10. Syspro

Author

Himanshu Gupta

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