The money a company owes to its suppliers and vendors for goods or services purchased on credit. An ERP system automates the processing of invoices and payments in AP.
The money owed to a company by its customers for goods or services delivered. ERP helps manage invoicing, collections, and cash flow related to AR.
A system that helps optimize production scheduling, material planning, and capacity utilization, often integrated with ERP for better supply chain management.
A comprehensive list of raw materials, components, and assemblies required to construct, manufacture, or repair a product. Essential for manufacturing ERP modules.
Technologies, applications, and practices for the collection, integration, analysis, and presentation of business information. ERP systems often feed data into BI tools.
An ERP system hosted on a vendor's cloud platform, accessed via the internet. Offers flexibility, scalability, and reduced IT infrastructure costs compared to on-premise solutions.
A technology for managing all your company's relationships and interactions with customers and potential customers. Often integrated with ERP for a holistic view of operations.
The process of transferring data from one system to another, often a critical step during ERP implementation when moving from legacy systems.
A system that integrates all facets of an operation, including product planning, development, manufacturing, sales, and marketing, in a single database, application, and user interface.
The core module of an ERP system that handles all financial transactions, including general ledger, accounts payable, accounts receivable, and fixed assets.
The main accounting record of a company, used to record all financial transactions. It's a central component of the financial management module in ERP.
A suite of HR software applications designed to manage an organization's human resources. Often a module within a comprehensive ERP system.
The process of deploying and configuring an ERP system within an organization, involving planning, data migration, customization, testing, and user training.
The process of tracking and controlling a company's inventory, from raw materials to finished goods. A key module in manufacturing and retail ERPs.
An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
A measurable value that demonstrates how effectively a company is achieving key business objectives. ERP systems provide data to track KPIs across various departments.
An outdated computer system, hardware, or software that is still in use. ERP implementation often involves replacing or integrating with legacy systems.
An integrated information system used by businesses to plan and manage all manufacturing resources, including production planning, inventory control, and scheduling.
A cloud-based ERP software suite from Oracle that provides financial management, CRM, e-commerce, and other business management functions.
An ERP system installed and run on a company's own servers and infrastructure, requiring internal IT resources for maintenance and upgrades.
The process of acquiring goods, services, or works from an external source. The procurement module in ERP manages purchasing, vendor relationships, and contract management.
The process of determining how goods will be produced, including resource allocation, scheduling, and inventory management. A key component of manufacturing ERP.
A module within ERP that helps organizations maintain and improve product or service quality through processes like quality control, inspection, and compliance tracking.
Information that is available immediately after it is generated or collected. ERP systems aim to provide real-time data for better decision-making.
The management of the flow of goods and services, encompassing all processes that transform raw materials into final products. ERP often includes SCM capabilities.
A leading enterprise software company, best known for its ERP software that helps businesses manage operations and customer relations.
A financial estimate intended to help consumers and enterprise managers determine the direct and indirect costs of a product or system, including ERP solutions.
The visual part of a computer application or operating system through which a user interacts with the computer. Modern ERPs focus on intuitive UIs.
The process of managing relationships with third-party suppliers of goods and services. Often handled within the procurement or purchasing module of an ERP.
A software application that supports the daily operations of a warehouse. Often integrated with ERP to manage inventory and logistics efficiently.
A markup language that defines a set of rules for encoding documents in a format that is both human-readable and machine-readable. Used for data exchange in ERP systems.
A variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, perishable resource.
A method of budgeting in which all expenses must be justified for each new period. ERP financial modules can support ZBB processes.
