ERP Full Form in Tally | What is the Full Form of ERP
ERP Full Form - Enterprise Resource Planning ( full form of erp )
Full Form of ERP
- ERP is a business management software that's implemented by many business houses to increases their productivity and performance.
- It's a really powerful business tool.
- It's used to collect, store, manage and interpret data from many business activities like Product planning, cost, Manufacturing or Service delivery, Marketing and Sales, Inventory management , Shipping and payment etc.
- ERP software is extremely useful for large organization. It comes in many modules:
- Human Resources
- Financial Accounting
- Supply Chain Management
- Customer Relationship Management
- Project management
Enterprise Resource Planning
- Each ERP software module has its own functional area and used by the organization for better productivity and performance.
Features of ERP systems
- The main feature of an ERP system may be a shared database that supports multiple functions used by different units. For example: Accounting and sales can believe an equivalent information.
Advantages/ Benefits of ERP
- It facilitates employees to try to do their job more efficiently.
- Reduces risks and improves financial compliance.
- Automates core business operations.
- Increases customer service because it provides one source for billing and relationship tracking.
- Provides a worldwide, real-time view of data that permits companies to try to do improvements.
- Time and price are the important factors that require to be considered before buying or implementing an ERP system.
- The implementation can take several months to few years.
- The value is additionally not fixed and varies on the idea of your requirements and therefore the features provided by the seller. So, it's advisable to throughly analyze the vendor's ERP package modules, features and supporting infrastructure before implementing the ERP.
- Recommend reading: "What is ERP Implementation? The 10 Process Stages You Need to Know!"