Enterprise Resource Planning (ERP) software helps companies to plan for the future and develop strategies to meet their business goals by analyzing data from their organization’s functions. It integrates and automates financial and business operation data to provide a single source of data which can yield insights about inventory management, the order and supply chain, financial status in order to manage procurement, distribution, production and fulfillment functions.
Many organizations are turning to ERP cloud software instead of buying their own ERP software solution. This is because it is much less costly to implement, since there are no upfront costs for the software or hardware, the cloud provider offers the latest technology and support and the use of the software can be purchased on a subscription basis where the organization only pays for the use of the software instead of being liable for software licensing and implementation.