oboloo Glossary

ERP Benefits And Challenges

oboloo Glossary

ERP Benefits And Challenges

Enterprise Resource Planning (ERP) is a business management system that uses integrated software to automate essential business processes like finance, production, inventory, and sales. The primary benefit of ERP is improved productivity as the system simplifies core operations and makes data sharing more efficient. Challenges may arise from integration issues due to variations in organization-specific systems and processes. Additionally, you need to consider whether the company has sufficient IT skills to implement and use the system and ensure the accuracy of the data entered into it. Finally, financial resources are necessary to purchase, install, and maintain an ERP system.