An ERP solution can deliver dramatic benefits to businesses of all types and sizes – increased productivity, reduced operating expenses, improved information flow, and enhanced performance management. Enterprise resource planning (ERP) is the integrated management of core business processes, often in real-time and mediated by software and technology.
ERP is usually referred to as category of business-management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from these many business activities. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information flow between all business functions and manages connections to outside stakeholders. Enterprise system software is a multibillion-dollar industry that produces components supporting a variety of business functions.
Typical phases of software development
- Identification of required software
- Analysis of the software requirements
- Detailed specification of the software requirements
- Software design