What is ERP?
ERP simply said is an all in one business management software. There are many types of business segments that require management whether you provide products or services. The major types are: marketing, accounting, operations and HR. The types of software that manage these are: CRM, accounting, inventory management and labor tracking. CRM keeps track of business contacts such as leads, customers, vendors. Inventory management begins as a tool to control inventory, then expands into other areas of more specific inventory related tasks. Accounting software helps manage AR and AP. Labor tracking software can manage time entries and or payroll of internal production labor or external services you provide.
ERP stands for enterprise resource planning. Enterprise refers to the all in one characteristic of the software. Resource can refer to the human resources, plant space resources, production machinery or inventory resources. Planning looks at the management of those resources in all departments, the planning and historical performances.