ERP (Enterprise Resource Planning) is business procedure managing software that allows business to use integrated application for a system to run business. It also computerized various back office tasks associated to technology, HR and services, such as project planning, manage HR, accounting and financial applications, reduce redundant task, distribution process management, improve accuracy of financial data and more.
Enterprise resource planning software combines all feature of a business such as planning, manufacturing, retailing and selling. This software consider applications used in large business ERP to study, modify and deployment data. Small business enterprise resource planning applications are lightweight industry organization software solutions, modified for the industry.
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Enterprise resource planning software contains different modules such as planning, distribution, marketing, accounting, inventory control and human resource. Mobile, cloud and social ERP are new and long term trend which change the enterprise resource market software.
The major driving factors of enterprise resource planning market are as follows:
o Need for intelligibility in business processes.
o Requirement of operational efficiency in industry development
o Growing demand of enterprise resource planning in medium and small enterprises.
o Acceptance of mobile and cloud base applications
The restraining factors of enterprise resource planning market are as follows:
o High rate
o Open source application