Enterprise Resource Planning (ERP)
Short for Enterprise Resource Planning, it’s a system of integrated software applications used to manage and integrate the functions of all the core business processes such as finance, human resources, supply chain, and others. any ERP software applications are important to companies because they help them implement resource planning by integrating all of the processes needed to run their companies with a single system. Think of it as a software that maintains a database of all the key information improving enterprise efficiency and effectiveness. See: Abacus, Legacy ERP, Microsoft Nav (Navision), and SAP ERP R/3.