Enterprise Resource Planning (ERP)

Enterprise Resource Planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results.

By centralizing data management, ERP systems eliminate data duplication and provide data integrity with a single source of truth. This allows different departments—from finance and HR to manufacturing and sales—to operate from the same set of information, improving operational efficiency and decision-making.

While ERPs are foundational for managing historical data and transactional workflows, they are often complemented by dedicated platforms for forward-looking analysis. For instance, FP&A teams leverage ERP data through robust data integration to perform complex modeling, scenario planning, and forecasting.