ERP Defined : Software for Small Business Accounting

In layman’s terms ERP is a computer software package often used in a commercial environment which provides a business tool for management to operate the business on a daily basis.

” ERP systems provide both a depth of information by function and a breadth of information horizontally across the value chain because they are organised in an integrated manner around a central data repository” Wagner

It is usually comprised of several modules such as a financial module, a distribution module, and or a production module. One of the benefits of an ERP is that each of these modules shares information that is housed within one database. An Example of an ERP is  SAP Business One that has been specifically designed for the SME market with companies below a 50 million turnover.