Enterprise Resource Management (ERP) systems digitize the day-to-day processes of running a business. While some smaller businesses may survive without software solutions, most businesses need at least basic ERP functionality to meet the demands of customers, suppliers, employees and other businesses.
Common ERP systems include financial management software, product supply tracking, Human Resources assistance and product lifecycle tracking. Without support for these core functions, businesses may not have immediate access to financial statements, bills or product status, and could not function adequately.
Due to their complex and multilayered nature, deployment of ERP systems can be lengthy and expensive, and increase dramatically for larger offices. Outside professionals sometimes are required simply to get the system running.
Some businesses may not require the full feature list of an ERP system, and can operate with only the desired parts. A business with no physical product, for example, would not need any product lifecycle software, and an ERP system may represent too much expense for unneeded features. Such a business may look into stand-alone financial software, such as Quickbooks or Peachtree.