If you work in the business world, you may have heard of ERP software solutions and wondered about the ERP systems definition. What is ERP software and what does it encompass? Most of all, you may have asked yourself if you need this kind of software for your business.

The ERP systems definition you’re probably looking for is what the acronym is for: ERP stands for “Enterprise Resource Planning.” This type of software covers a variety of business functions, from general human resources and accounting features to more specialized project and inventory management. ERP software solutions are available in everything from small business management software to cloud applications for entire corporations.

If you’re new to ERP software, here are some of the functions that it can provide:

1. Accounting: Simple accounting software is one of the most common types of ERP systems. From general ledger reconciliation to large-scale billing systems, there are plenty of options for all business types. Most common accounting ERP software will use various bookkeeping functions.

2. Employee Management: When it comes to human resources, it’s important to have great software to keep track of employee information. From logging time for payroll to tracking employee attendance and performance, there are plenty of ERP systems that can handle these tasks. This kind of software can be tailored to just about any business.

3. Inventory Management: If you work in a business that deals with SKUs, UPCs, or other ways of keeping track of inventory, you’ll need a system that can keep up, too. A business in need of this kind of software could be a store, a warehouse, or any other kind of business that handles thousands or millions of products.

4. Project Management: From projects in construction or manufacturing to corporate or IT tasks, great project management software can help you stay on top of a project every step of the way. Manufacturing and construction project management software can help you develop, plan, and implement a tangible object, and other project management can be done for business.

5. Other features: Today, most software doesn’t come from a disk. Much of it is a downloadable application. In addition to being available online, this software today also features functions such as cloud storage and web access, so you can securely store and see data from anywhere with an internet connection when you log in.

Have further questions about the ERP systems definition or how to implement these systems into your business? Contact a software company or leave a comment below. Find more on this topic here.