What is Enterprise Resource Planning? Oracle NetSuite Explained

What is enterprise resource planning? Mike Berner, a finance writer at business.com, defines ERP and how it relates to financial management in a business.
Time Stamps
0:00 Introduction to enterprise resource planning (ERP)
0:26 What is enterprise resource planning (ERP)?
1:09 How ERP fits into financial management
1:58 Who uses enterprise resource planning (ERP)?
2:20 Oracle NetSuite and enterprise resource planning (ERP)
3:03 Additional Business.com resources
Enterprise resource planning, or ERP for short, 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 more. With ERP, you can track every aspect of production, logistics, and financials all on a central hub accessed by the entire organization.
Usually ERP is better suited toward large businesses due to its expense, but many small- and medium-sized businesses are increasingly using ERP software. One of the leading products in the ERP space is Oracle NetSuite, a cloud-based solution that allows large businesses to scale.
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Mike Berner is a finance writer for business.com.
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