Enterprise Resource Planning (ERP) is a business management software which handles the company’s data i.e. Sales, Purchases, Employees, Accounting, etc. It is imperative for every organisation to have an ERP especially for reporting. When the number of sales are in their hundreds, paper and pen cannot cut it, and when adding other pieces of information such as purchases, Human Resource Management (HRM), Accounting, etc, it will be difficult for a spreadsheet to consolidate all this data.
Therefore, the need for an ERP is apparent. Businesses worldwide are seeing the use of having an ERP in-house. Companies who provide large ERP software are SAP and Oracle. These are the leaders in the development of ERP. For small to medium scale enterprises, software such as SAE, Odoo, Peachtree, etc are better and more suited for this level of industry.
In Nigeria, SAP and Oracle are the leaders in this area and consultants who are certified earn a lot of money, some up to $800 per day. Oil and Gas, telecommuication and large industries use software such as SAP or Oracle to handle their day to day activities.
Management can benefit from the reports they obtain from the software. It gives a better view of what is going on in the business. Businesses who use ERP can better manage their business and save money from loss of stock from their inventory, better tracking of profits and efficient handling of movement of goods form one warehouse to another.
Here is a video for your consumption…