What is ERP ?

Many time we heard the term ERP in software Engineering
Today I am going to explain about ERP in brief
what is ERP?
According to wikipedia it's define as

Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities.

For many companies, Enterprise Resource Planning (ERP) systems are a critical element of their success. ERP refers to software and systems that are used to plan and manage all core supply chain, manufacturing, services, financial and other processes of an organization. ERP can considerably streamline an organization’s operations, automating functions such as accounting, procurement, project management, customer relationship management, risk management, compliance and supply chain operations.

While a business can utilize an individual ERP application, a complete ERP application suite brings processes together across a business, connecting every aspect of the enterprise and allowing for improved communication and data gathering. Today’s ERP systems extend processes by providing collaboration and digital solutions to effectively connect with partners outside the organization including, customers, suppliers, carriers, financial institutions and others.
What are the Benefits of ERP?
The benefits of ERP are many. ERP system benefits range from optimizing processes to helping different departments better collaborate to improving the relationship between a business and its customers. The following are several of the most valued benefits to utilizing ERP.
Increased Efficiency
One of the primary advantages of ERP is that it allows companies to automate manual and routine functions.
Improved Collaboration
ERP systems also connect teams, improving communication and employee engagement. With an ERP system, every approved employee has on-demand access to operational data, allowing them to understand all of the company’s moving parts and the role they play.
Real-time Data & Enhanced Reporting
One of the biggest benefits of ERP is that it’s a powerful data hub. An ERP system allows you to collect, store, and analyze data across your operations in one centralized location
Cloud Accessibility
Though ERP systems are available as on-premise solutions, cloud ERP software has become more popular in recent years.
What are the Disadvantages of ERP?
Though the advantages of an ERP system far outweigh the disadvantages, there are a few to consider to make sure moving forward with ERP is right for your business at a given time.

Upfront Costs
There are initial costs to keep in mind when considering an ERP system, particularly an on-premise system, such as the cost of implementation, maintenance, training and potential third-party software add-ins.
Training
To get the most out of ERP software, proper training is a must. Training should cover all of the ERP system’s features, with sessions in line with business processes.
*Leading software companies providing ERP services are *
SAP
Oracle
Microsoft
Workday
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