Glossary

Enterprise Resource Planning (ERP)

Enterprise Resource Planning (ERP) is an application with a number of modules with the goal of keeping all records in one location.

A good example of a business that is dependent upon ERP is a bank. In order to debit or credit each individual account there are thousands of planning considerations that must be taken account of. Through the use of ERP banks are able to operate their internal, back office procedures of maintaining proper balances on each customer's ledger as well as run the front office aspects of being able to offer transactions through ATM and at the desk. The combined processes of a bank are exponential and it would be impossible to run each piece independently of one another due to the amount of processes there are.

Business management software such as ERP allows for the full functioning of a bank or other technology related businesses but is also seen in basic office structures with in small to medium sized businesses as well.