ERP domain

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ERP is a business strategy and a set of industry-domain-specific applications that build customer and shareholder value by enabling and optimising enterprise and inter-enterprise collaborative operational and financial processes. It has a various module like CRM module, a financial module, sales module, etc. which ensures the interest of all stakeholders of the business.
The ERP model goes beyond the objectives of systems that are limited to supporting transaction processing and resource optimisation. This model leverages open architectures and expanded data distribution to support collaborative processes both within and beyond the enterprise. Collaborative applications provide functionality and key information to all participants in the business value chain.
Initiatives to improve enterprise performance must include ERP as a key element of most business processes. ERP models will provide a suitable framework to refocus application efforts for greater enterprise integration and opportunities for collaboration. The role of ERP coupled with the need for better integration and specialised functions increase the complexity of managing an enterprise’s technology portfolio.
ERP is an application and deployment strategy to integrate all things within an enterprise and do so centrally. It is expected that ERP will take the ERP foundation and extend it outward, to position the enterprise squarely in the centre of the supply and value chain. Deployment of ERP could take place through a single vendor or a variety of best-of-breed application providers.
A cornerstone of ERP is an open component architecture. That means the monolithic systems of the past will have to change. ERP will be more componentised. Instead of doing a big upgrade every two years, in time, you’ll be able to upgrade components as you need them.
In tomorrow’s world, when ERP would be commoditised, provision for supply, Chain Management, Electronic Commerce, Advanced Planning Systems, etc. would be the true differentiation as the enterprises look beyond their individual, narrow confines.