What is ERP Software? Enterprise Resource Planning | ERP System | ERP Solutions
ERP software or Enterprise resource planning is a bundle of applications that manages core business processes including accounting, inventory, sales, purchase, Human Resource, and customer support. ERP is used to streamline cross-departmental workflows and automate back-office tasks. ERP can be fully integrated or customized to specific processes.
There are many ERP Software available in market. Odoo is one of the most effective open source ERP. It’s an integrated system as opposed to individual software designed specifically for business process and manages all this by creating a unified dataset for your business. The more advanced ERP today also include e-commerce, business intelligence, and asset management.
Using a centralized database, Odoo ERP software helps businesses manage, store, collect and interpret data from different business units. Odoo is uniquely open-sourced and it can integrate with third-party apps for ecommerce, POS, and MRP. Many ERP solutions feature built-in regulatory process standards.
The purpose of ERP software is to streamline processes, increase efficiency, and promote a culture of collaboration. ERP allow customer service, production, engineering, and other business departments to work closely together using real-time data. Open-source ERP solutions are still a tiny fraction of the total ERP market.
- Financial management
- Supply Chain Management (SCM)
- Customer Relationship Management (CRM)
- Inventory Management
- Human Resource Management (HRM)
- Sales & Marketing
Advantages of ERP software:
- ERP automates day-to-day tasks
- ERP breaks down walls between departments
- Reporting tool & business intelligence tools
- Gain competitive edge
- Lower operational costs
- Operating costs are kept within budget
- Increase data security
Types of ERP Software:
- Vertical ERP
- Generalist ERP
- Open-source ERP
- Small business ERP
ERP Software can be vertical with industry-specific features for government, retail, healthcare, and nonprofits. ERP has basic modules such as Sales & Marketing, Financial management; Manufacturing, Purchasing, and Inventory which are serve your needs.