What does ERP Stands for?
The acronym ERP stands for Enterprise Resource Planning, referring to a type of software used by the organization to manage its key business process to improve the efficiency, cost reduction and optimize its core business operations.
ERP is recognized as the world’s largest enterprise software used for controlling and streamline the business processes. The term ERP was coined by Gartner Group in the 1960s.
Enterprise Resource Planning (ERP) software places its focus on integrating an organization’s departments and functions (HR, logistics, Sales, Finance, Production etc.) into a single and integrated computer system that aims to serve all those department teams’ needs.
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ERP Full Form in Computer and Software
According to Computer and Software terms, the full form of ERP is ‘Enterprise Resource Planning’ and the full form remains same. Its mainly focusing on the digital and automation of solutions to optimize the business solutions and its operations. The popular ERP software’s like SAP, Tally, Oracle, MS dynamics are developed to full fill the business requirements.
Major components of ERP Software
- Human Resources Management Systems
- Financial Systems
- Supply Chain Management
- Customer Resource Planning
- Manufacturing Resource Planning
ERP Meaning
In the 1990s, Enterprise Resource Planning or ERP uses multi-module application software for improving the performance of the business processes. ERP systems integrates with business activities across functional departments, from production planning, parts purchasing, inventory control, product distribution, fulfillment, to order tracking resources. This led to the evolution of ERP System. Also read what does SAP stands for.
What does ERP software do?
ERP software helps to implement all the functions of a company and it enables to plan, track, and utilize all the resources of the company. By using Enterprise Resource Planning software you can manage a company by collecting, organizing, and reporting information throughout the business process.
Common ERP Modules
- Purchase orders (PO)
- Financial Accounting and controlling
- Manufacturing Resource Planning (MRP)
- Customer Relationship Management (CRM)
- Human Resources (HR)
The major benefits of ERP systems are: better customer satisfaction, better information, high productivity, better quality and decreases in time to market, delivery time, inventory levels etc.
Key Benefits of ERP System
- With the automating business process, ERP helps in reduce manual word and improve efficiency,
- With the real-time analytical data, better decision making can be done,
- ERP also helps in reduce the costs and improve the higher revenues.
Frequently Asked Question on ERP Full Form
1. What is the ERP full Form according to IT?
- Ans: According to IT, ERP stands for Enterprise Resource Planning, developed to use for the technology with the integrated and smooth running of business functions.
2. What does ERP stands for according to Business?
- Ans: According to Business, ERP refers to manage the business operations like Finance, Marketing, Sales, Human resources in a single integration system.
3. Full form of ERP SAP?
- Ans: Full form of SAP – Systems Applications and Products
4. ERP stands for in Tally?
- Ans: Tally is an ERP software, the terms ERP stands for same as ‘Enterprise Resource Plannning’
If you any have queries related to What does ERP stands for in Tally, SAP, Computer, Medical, Business, Accounting, Software, banking, school and so on, you can refer above detailed article.