2016-12-30 00:00:00 Technology English Seeking a way to integrate information across departments? Implement an ERP system to capitalize on potential cross-functionality for... https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214450/employee-works-with-erp-software.jpg What is ERP Software?

What is ERP Software?

0 min read

Enterprise resource planning software is an integration tool that combines multiple aspects of an entity into a single computer program. Using various business modules for different functions of business, a company can distribute information more efficiently through this single location of data.

For example, a vendor profile can be created to submit a purchase order. The information on the vendor’s profile flows through the accounts payable module, receiving department, cash management, and financial reporting.

For a small business, an ERP system is a breakthrough for efficiency. Instead of replicating information in several locations, a company can simply house all data in one location and restrict access to various aspects of the software based on user profiles.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

Choosing the Right Property Management Software

If you’re running a property management company, you already know you have…

Read more

How to Migrate to the Cloud from Excel or Traditional Accounting Software

Now that you understand why migrating to cloud accounting software is a…

Read more

Choosing the Best Accounting Tech for Your Practice

From cloud computing to blockchain, there are many different technologies available to…

Read more