Enterprise Resource Planning
Enterprise resource planning uses an integrated software system to manage a business' daily tasks.
Enterprise Resource Planning allows businesses to manage their daily tasks through a single integrated software system. These tasks can include planning, purchasing, sales, marketing, finances, and human resources, to name a few. Each of these services may have a separate, tailored user interface, but the integration allows data to be easily shared between these different applications. A single, shared source of information reduces redundancy and data drift. ERP systems enable companies to make use of Business Intelligence practices.
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Planning: Make use of Project Management Software and link completed tasks to specific sales or purchase orders.→
Purchasing: Make use of Internet of Things (IoT) technologies to track your inventory levels and know when to place new orders.→
Marketing: Make use of machine learning insights to optimize marketing strategies.→
Finances: Automate daily tasks with Robotic Process Automation workflows, and make use of real-time dashboards to understand the state of your business.→
Human Resources: Manage an employee through recruitment, hiring, and promotion.
A key part of integration is the standardized definition of a number of data structures or schemas for use across the organization. This enables different parts of the application to easily intake and transfer data. Enterprise Resource Planning software often integrates business intelligence-style dashboards for easily visualizing this data. Real-time data streaming makes it easy to understand the state of the company, and make informed business decisions.
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