However many hurdles in the growth of any business

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Unformatted text preview: in the growth of any business exist, such as difficulty in getting accurate data, timely information and improper interface of the complex business functions. To overcome these hurdles and achieve growth in business and depending upon the rate of change of the growing business needs, many applications, over a period of time, have been introduced by organizations such as • • • • • • • • Management Information Systems (MIS) Integrated Information Systems (IIS) Executive Information Systems (EIS) Corporate Information Systems (CIS) Enterprise Wide Systems (EWS) Material Resource Planning (MRP) Manufacturing Resource Planning (MRP II) Money Resource Planning (MRP III) 1.3 As automated solutions were developed to cater to different activities of organizations it was only a matter of time before somebody thought of integrating all of those to give an end to end IT solution for an organization’s operational and decision support needs. Thus ERP is more of a methodology than a piece of software, although it incorporates several software applications, brought together under a single, integrated interface. Most organizations across the world have IT Audit Manual Volume III 3 IT Audit Manual realized that in a rapidly changing environment, it is impossible to create and maintain a custom designed software package, which will cater to all their requirements, and also be completely up-to-date. Realizing the requirement of user organizations some of the leading software companies have designed Enterprise Resource Planning software which will offer an integrated software solution to all the functions of an organisation. Features of ERP 1.4 Some of the major functionalities of ERP are as below: • Facilitates enterprise-wide Integrated Information System covering all functional areas like Manufacturing, Sales and distribution, Payables, Receivables, Inventory, Accounts, Human resources, Purchases etc and bridges the information gap across the organisation. • Facilitates introduction of latest technologies like Electronic Fund Transfer (EFT), Electronic Data Interchange (EDI) E-Commerce...
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