Enterprise Resource Planning (ERP) is the business management system of an organization, powered by a software application to incorporate all facets of the business, and automate and facilitate the flow of data between critical back-office functions, ranging from financing, distribution, accounting, inventory management, sales, marketing, planning, human resources, manufacturing, and other operating units.
A structured ERP system will function as one-stop integrated solution, equipped with the ability to process information/transaction from all departments of the organization to track–in real-time–business operations and provide timely, accurate information to business managers. The system facilitates that each employee of company has the information they need to do their job without the need to export data from multiple systems or do extra computations.