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What is ERP.pdf - This post defines ERP from a new...

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This post defines ERP from a new perspective, considering advancements in technology,business models, and business intelligence.You will also find a detailed study of cost and ROI factors here.Contents1) ERP Definition2) Why do we need ERP?3) What is new with enterprise systems?4) Common functionalities5) ERP Advantages and disadvantages6) Popular deployment models7) ERP buyer types8) ERP costs9) ERP Return On Investment (ROI) Facts10) Conclusion
ERP DefinitionERP means Enterprise Resource Planning. The software integrates every businessprocess into a single centralized system to provide visibility, efficiency, andintelligence.Enterprise planning solutions are not a new thing.The history of ERPstarted back in the1960s.The global enterprise resource planning market is expected to be$74.2 billion by 2026.The current size is estimated to be$40 billion.Organizations that are using this system are finding more remarkable growth in theirbusiness.Why do we need ERP?This software allows you to access enterprise data from multiple jobs using thefamiliar setup and user experience.It collects all data and centralizes them for wide distribution. It avoids havingvarious standalone databases with separate excel sheets. Instead, all the users ofan organization from lower to higher can enter, store, and use data throughregular processes.All users of the company can get centralized, secured, and accurate data from thissystem.This system provides all types of reports for all the organization’s activities like thefinancial statements, receiving reports, etc.This system avoids copying of data and gives data solidarity with a single source.The system helps the organization to make better decisions by bringing visibilityto all the aspects of the organization.What is new with enterprise systems?With exponential progress in systems’ data storage and computing capacity perMoore’slaw, we are witnessing advancements in enterprise software systems.
The following are the few high-impact innovations.Artificial intelligence and big-data-analytics.Integration with the Internet of Things (IoT).Applications over smartphones.Blockchain integration.Cloud enterprise resource planning.SAAS model.Find details of high-impact innovations below.Artificial intelligence and big data analyticsArtificial intelligence(AI) with machine learning can help make better business choices.I will allow businesses to optimize their all operations including,Business operational processes.Software systems.
Management structures.Hardware and technology infrastructure.Enterprise software systems gather many enterprise data from day-to-day businessprocesses and generate big data.Extensive data analysis can predict demand and help make future business decisionsbetter and more efficient.

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