These days an abbreviation keeps popping up i.e., “ERP” and people have searched about ERP a lot. Today we will discuss the meaning of ERP and all its details. ERP stands for Enterprise Resource planning. ERP is such a technically sound tool/software which is used by several organizations to regulate their daily tasks and daily business activities such as accounting and project management. This technically sound tool improves the performance of an organization. Under this tool, data of the organization is stored in a central database which can be operated only by authoritative persons. ERP has been designed to monitor and store data of businesses of all sizes as whole. Many of the world’s best-known firms are dependent upon ERP for smooth functioning of their business. Now educational organizations use the ERP system to track the delivery of study materials and record the details of content. These days the educational sector is also inducing a lot of technically sound tools in order to enhance the teaching-learning process in different sectors of academics. Here ERP plays a vital role. Even the learning management system of educational institutions include ERP as an important ingredient. As per learning management system ERP manages many important processes in daily tasks of schools and educational institutions like fee payment, library management, enrolment of students and their study related old and new concepts.
Technically when ERP is used to process the above stated example, then any part of this process such as Hindi books, size of book, paper quality of book, binding material, can be identified particularly in the centrally stored database. ERP makes the school learning management system stronger by collaborating different daily functions of the school administration. School lms integrates ERP in all those actions of the educational institution which enhances the chances of organization to perform as best in the field of academics. ERP improves the portfolios of the tutors & students and apart from them organizations and employees also get the same benefit due to induction of ERP. It helps the educational institutions to keep a good and healthy bond with parents as well as parents. Communication at every level becomes better. There are several forms of ERP software, including on-premises, cloud and hybrid. Where cloud ERP has become more famous as it accomplishes the company needs in a prominent way. ERP organizes the whole teaching-learning process along with all its supporting ingredients in a new and innovative way due to which the educational system gets a renovation and students get new support in their learning.
There are many benefits of having ERP in a business venture. It improves business insight with the help of real-time information based on reports. Improves efficiency of organization having command over many business functions. It maintains consistent infrastructure from all the departments whether back office or front office and aligns them in a better feel. ERP systems create a basic structure through which departmental officials can create wise use of resources. It turns a big heap of information and data into charts and graphs which clearly show the situation of organizations growth and competitive scenario which gives a great help in designing the next course of action. ERP performs its service in the form of cloud and it uses a network of remote servers which is provided space to operate inside the server room of a company or organization. The cloud used by ERP reduces both operational expenses and capital expenses because it eliminates the need for companies to purchase software and hardware, or hire additional IT staff. The saving of these resources can be used in new business opportunities.
ERP has reduced the dependency of organizations on third party services regarding various departmental functions such as HR etc. ERP automates the process which usually and traditionally used to take a lot of time and manual intervention as well where human mistakes were inevitable but ERP doesn’t give a single chance like that. The whole data if needed can be available to any authoritative employee on their android phones or tablets too. ERP cloud can be facilitated on smart phones to PC and is collaborating with latest technologies too. Today various industries are using ERP such as advertising and digital media, footwear and accessories, consulting, education, energy, financial services, food and beverages, health and beauty and many more.