ERP systems tie together business processes and enable data flow between them. They are used for day-to-day activities like finance, procurement, project management, and supply chain management. ERP started in the 1990s but has evolved to embrace the cloud, providing updates several times a year instead of costly 5-10 year upgrades. Modern ERP systems deliver services via the cloud and use latest technologies like AI, machine learning, blockchain, augmented reality, and IoT. Successful ERP implementations require thorough requirements gathering and integration efforts pay off in the long run, while poor management can cause failures even with the perfect system selection.