Glossary of Terms

What is Enterprise Resource Planning (ERP)?

Enterprise Resource Planning (ERP) Definition

Enterprise Resource Planning, also known as ERP, is a business management software that functions as a central hub for data and information within a company. With ERP, businesses can integrate their different departments and processes, such as finance, human resources, inventory management, and marketing, into one system. This makes it easier for companies to monitor and manage their resources, improve efficiency, and make informed business decisions.

ERP is especially useful for large organizations that have complex operations and require seamless collaboration between different departments. With the help of ERP, businesses can optimize their processes, reduce costs, and stay ahead of their competition.

Enterprise Resource Planning (ERP) Definition

Related terms

Product Information Management, or a PIM, is a powerful tool that centralizes all of a company's product data into one system.
Digital transformation is the process of integrating technology into an organization's operations to improve its overall performance and effectiveness.
Inventory Management involves overseeing the flow of goods from the moment they are received until they are sold or used.
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