What is an ERP?

ERP stand for Enterprise Resource Planing, ERP is software-based solution for your business management needs. Most businesses have separate software for accounting, for Human resource, and for various services that they offer. An ERP system is software that consists of various modules designed for particular business setup, various business software can be combined in a single ERP system.

ERP solutions vary from vendor to vendor; however, most solutions provide several common features and functionality that can be tightly integrated. Financial reporting and analysis are often the core to most ERP systems since financial reporting is almost required by every business, from there you can add modules as you need them, so for example, if your business needs grow in the future, you can add more modules to your existing ERP system instead of buying new software (solution).

Once an ERP system is implemented in your company, adding new functionality to the system will not require a new training for your employees, you ERP system can grow with your company.

The advantage of ERP system is that you can have a single software that streamline all your business reporting needs in a single software interface.

As a manager, you can get reporting from various departments in one single screen.

HP offer a really nice online introductory course in understanding ERP system, you can check the course at this link: http://h30187.www3.hp.com/sessions/overview/p/courseSessionId/62136?courseId=18829

You will have to create a free online account to access the course.

==== Some of the text used in this article were excerpt from HP ERP course listed in the above link=======