Enterprise resource planning

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Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software typically a suite of integrated applications that an organization can use to collect, store, manage and interpret data from many business activities. The finance module in particular is essential to a suite of applications meeting the definition of an ERP system. The finance module provides the system of record for the organisation; recording the commercial impact of the business operations in the General Ledger. ERP systems can be local-based or cloud-based. Cloud-based applications have grown rapidly since the early 2010s due to the increased efficiencies arising from information being readily available from any location with Internet access. However, ERP differs from integrated business management systems by including planning all resources that are required in the...

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