ERP is an acronym that stands for enterprise resource planning (ERP). It’s a business process management software that manages and integrates a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities. Website: www.umltech.net

1. What is ERP? Why ERP is important for
your businesses?
ERP is an acronym that stands for enterprise resource planning (ERP). It’s a business process
management software that manages and integrates a company’s financials, supply chain,
operations, reporting, manufacturing, and human resource activities. Most companies have
some form of finance and operational system in place but most of the software that’s out
there can’t go beyond everyday business processes or help with future business growth.
As company’s needs change and they expand, their systems should keep up with them.
We’ll define what ERP is and why it’s smart to have software in place that keeps up with your
business needs.
What is enterprise resource planning? Yesterday and
today.
In the past, businesses had some sort of accounting, finance, or HR process but the software
systems they had often worked separately and didn’t talk or work with one another. What

2. makes modern ERP software different is that it brings all these different processes to the
table to collaborate and create one fluid system.
Current solutions also allow each department to see what the other is doing. The result is
that accounting and HR can easily collaborate with sales and customer relationships.
While there’s no all-up solution software for every business process, ERP technology is
getting better and better at bringing all your business processes together to improve
collaboration, help your company make data-driven decisions, and advance business
productivity.
ERP can cover a lot of company functions, but some of the main business processes include:
Finances
Modern ERP offers dashboards that give you an overview of your finances, so you can tap
into the real-time information anytime and anywhere. It should also help you cut down on

3. entering information manually by automating daily tasks and include tracking abilities that
help with your business’s regulatory compliance.
Human resources
Modern solutions offer ways to manage company data and streamline employee
management tasks like payroll, hiring, and other duties. You could also track employee
performance and identify HR problems before they happen.
Manufacturing
This function improves business communication, automates daily processes, and offers
manufacturers the ability to fulfill customer needs and manage resources by accessing real-
time data. This solution also optimizes project and cost management as well as production
planning.
Supply chain
If your company is still entering information by hand and trying to track down inventory in
your warehouse, you can easily save time and money by automating these processes with
ERP. Modern solutions also offer dashboards and business intelligence to help you get a
handle on your inventory management.
Website: www.umltech.net