ERP stands for Enterprise Resource Planning. It is a “catch-all” term which describes powerful business software used to run all your departments.
ERP software usually includes sales (CRM) and finance software as a minimum but can also include: inventory management, fulfilment, e-commerce, project management and planning, manufacturing, supply chain management and logistics software. Some ERP software providers will offer all the functionality which is available on the software whilst others will provide a modular payment model where you pay for what you use. Typically you will buy named licenses which relate to a particular job role or function.
The benefit of buying ERP software is that you don’t need to connect disparate software together to get a complete view of your business performance. By using a single data source which is shared between all departments, you will be streamlining your business processes, removing duplication of effort or manual intervention and benefiting from a complete bird’s eye view of your business information. You will also be future-proofing your business since ERP software often has capability beyond what you are using at any given point in time. As your needs change you can change your use of the software without having to rip and replace with an alternative.