Enterprise Resource Planning Software Flashcards, test questions and answers

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What is Enterprise Resource Planning Software?

Enterprise Resource Planning (ERP) Software is a suite of integrated applications used to manage the internal and external resources of an organization. It is designed to facilitate the flow of information between various areas within an organization, such as finance, accounting, manufacturing, sales, human resources and more. ERP software allows organizations to become more efficient and productive by automating most business processes. ERP software helps companies streamline their operations and improve efficiency by integrating data across multiple departments in one unified system. It provides a comprehensive set of capabilities that allow businesses to manage their financials, inventory levels, customer relationships, supply chain management and other aspects of their business with ease. The software also provides real-time visibility into company performance so managers can make informed decisions quickly and accurately. One major benefit of ERP systems is that it enables businesses to access relevant data from all departments in one place instead of having to search multiple databases for specific information. This means that employees can make better decisions faster because they have access to current data from all parts of the organization at any given time. Additionally, ERP systems enable businesses to automate manual processes which can help save time, reduce costs and increase accuracy.