What is an ERP?

Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP)

What does ERP mean?

  • ERP Means “Enterprise Resource Planning”

What is an ERP?

  • An ERP is business software application or series of applications, which facilitate the daily operations of business. An ERP an be commercial-off-the-shelf (COTS) applications (which may or may not be customized) or custom built (home grown) by the business and/or assemblages of different vendor applications and/or models.  ERP applications dules from a variety of vendors.

Common ERP Major Functions

  • ERP application software typically support these major business operations:

Financials Management system (FMS)

  • FMS supports accounting, consolidation, planning, and procurement.

Customer Relationship Management (CRM)

  • CRM facilitates customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and sales growth.

Human Resources Management System (HRMS)

  • HRMS supports workforce acquisition, workforce management, workforce optimization, and benefits administration

Enterprise Learning Management (ELM)

  • ELM is the integrated application which increases workforce knowledge, and skills, and competencies to achieve critical organizational objectives.

Asset Management (AM)

  • AM support activities for deploying, operating, maintaining, upgrading, and disposing of assets cost-effectively.

Supply Chain management (SCM)

  • SCM is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.

Related References

What does CRM Mean?

Customer Relationship Management (CRM)
Customer Relationship Management (CRM)

 

What is CRM?

CRM (customer relationship management) is a type of ERP application, which are used to facilitate sales, marketing, and business development interactions throughout the customer life cycle.

What does a CRM Application do?

A CRM application capabilities, broadly, encompass:

Marketing Integration

  • Lead management, email marketing, and campaign management

Sales Force Automation

  • Contact management, pipeline analysis, sales forecasting, and more

Customer Service & Support

  • Ticketing, knowledge management systems, self-service, and live chat

Field Service Management

  • Scheduling, dispatching, invoicing, and more

Call Center Automation

  • Call routing, monitoring, CTI, and IVR

Help Desk Automation

  • Ticketing, IT asset management, self-service and more

Channel Management

  • Contact and lead management, partner relationship management, and market development funds management

Business analytics integration

  • Analytics application and Business intelligence and reporting integration, which may include internal reporting capabilities.

Related References