Glossary of terms
An ERP system (enterprise resource planning) is a software for planning enterprise resources that helps to control internal processes and make important decisions about business development in real time. In general, an ERP system is a set of separate modules that are interconnected and integrated. Each of these modules is responsible for a specific area of business: finance, production, HR, marketing and sales, planning, procurement, logistics, and others.
ERP, like the central nervous system, collects signals and information from all parts of the body, i.e. the enterprise. Moreover, the ERP system, like the nervous system, is evolving, and the functionality of its modules is constantly growing.
The basic principle of ERP is centralized information collection. All data is stored in a single repository, which allows all users – from the CEO to the accounting department – to store, create and use the only up-to-date data of the enterprise. That is, if the company currently uses separate databases to monitor warehouse reporting, order processing, and accounting – using numerous unreliable spreadsheets – ERP combines these processes into a single and understandable flow of information.
That is, instead of individual employees in different departments creating their own spreadsheets and reports, ERP systems allow you to generate reports from a single centralized system. Information updated in one ERP module, such as CRM, HR, and finance, is sent to a central, shared database. The relevant information in the central database is then shared with other modules. For example, when sales orders are automatically fed into the finance system, the order management department can process them faster and more accurately, and the finance department can process financial information faster.
Businesses typically use a combination of different modules to manage activities and tasks, including the following:
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