enterprise resource planning
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AI overview
Enterprise resource planning is a corporate task focused on optimizing the resources a company already has, such as equipment, materials, and staff. It matters because better use of existing resources can improve efficiency and reduce waste without requiring major new investments.
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Article
Diagram showing some typical ERP modules Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software—typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from many business activities.
The finance module in particular is essential to a suite of applications meeting the definition of an ERP system. The finance module provides the system of record for the organisation; recording the commercial impact of the business operations in the General Ledger.