# What is an ERP system? **URL:** \ **Category:** Business Analysis\ **Created:** [August 30, 2022, 1:42pm UTC](https://community.bizdata360.com/t/what-is-an-erp-system/43 "2022-08-30T13:42:56Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![snisha](https://community.bizdata360.com/letter_avatar_proxy/v4/letter/s/74df32/32.png) [@snisha](https://community.bizdata360.com/u/snisha)\ **Post date:** [August 30, 2022, 1:42pm UTC](https://community.bizdata360.com/t/what-is-an-erp-system/43/1 "2022-08-30T13:42:56Z")
The term “enterprise resource planning” (ERP) refers to a category of software that businesses use to monitor routine operations including accounting, purchasing, project management, risk management, and conformity. Enterprise performance management software, which aids in planning, budgeting, forecasting, and reporting an organization’s financial outcomes, is also a component of a full ERP suite. ERP systems facilitate the exchange of data between various corporate operations and tie them all together. ERP solutions avoid data duplication and offer data integrity with a single source of truth by gathering an organization’s common transactional data from several sources. ---
**Author:** ![Bizdata](https://community.bizdata360.com/user_avatar/community.bizdata360.com/bizdata/32/11_2.png) [@Bizdata](https://community.bizdata360.com/u/Bizdata)\ **Post date:** [August 30, 2022, 2:42pm UTC](https://community.bizdata360.com/t/what-is-an-erp-system/43/2 "2022-08-30T14:42:15Z")
What are the business values by ERP? ---
**Author:** ![snisha](https://community.bizdata360.com/letter_avatar_proxy/v4/letter/s/74df32/32.png) [@snisha](https://community.bizdata360.com/u/snisha)\ **Post date:** [September 1, 2022, 4:16am UTC](https://community.bizdata360.com/t/what-is-an-erp-system/43/3 "2022-09-01T04:16:28Z")
Some of the business values by ERP can be: - Improved business insight - Lower operational costs - Enhanced collaboration - Reduced risk - Lower management and operational costs