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.