Exact definition of Enterprise Resource Planning?
ERP is a high-end sophisticated software solution that reduces the pressure and workload off the managers and provides accurate, timely information for taking appropriate business decisions. Managers with knowledge of ERP will be able to achieve their targets and goals by proper implementation of ERP system in their organization.
In fact managers are expected to translate the business rules and requirements for mapping them into ERP software.
Implementation of ERP solutions is one of the largest drivers of growth in the consultancy business.
Enterprise resource planning (ERP) systems integrate internal and external management information across an entire organization, embracing finance/accounting,manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application. The purpose of ERP is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.
ERP systems can run on a variety of computer hardware and network configurations, typically employing a database as a repository for information.