What is ERP software? This question gets asked by business owners in all industries, and although the answer may seem like it would be complicated, the ERP systems definition is actually fairly straightforward. ERP (or “enterprise resource planning”) software is any system used to help manage a business. ERP software can vary from simple account software to software with very specific functions, such as human resources or inventory management.
There are many different types of ERP systems available on the market today. Here are some examples of ERP software you might see for sale:
Accounting
One of the easiest answers to the question of “What is ERP software?” is to explain that it can help businesses stay on top of their finances. Spreadsheets work for many businesses for smaller tasks, but a comprehensive financial picture can be produced through ERP systems for small business.
Human Resources
Another way that many businesses benefit from ERP software is by using it for their human resources information. HR tracking for employees can be more easily completed when the data is all in one place. HR professionals will have a place to keep employee data, including personal information, worker performance, and any problems that come up.
Retail Management
What is ERP software for retail, exactly? Because one retail location can involve the sale of thousands of SKUs (stock keeping units), it’s necessary to have the right software to track inventory. Retail management software can also help managers hold sales and mark down prices in an efficient manner. This will create less confusion among employees and customers alike.
Inventory Management
In addition to retail, there are several other industries that rely on keeping an up-to-date inventory. Warehouses, restaurants, and supply chains all need to know exactly what is in their facilities at all times. Keeping an accurate inventory can reduce shrink (or theft) and help customers and employees know exactly what is in stock at any time.
Have you ever used ERP software for business? Tell us about what you’ve used it for in the comment section.
