What are "Accounting/ERP Systems"?

Answer 1

Many companies greatly rely on computers and software to provide accurate information to effectively manage their business. It is becoming increasingly necessary for all businesses to incorporate information technology solutions to operate successfully. One way that many corporations have adopted information technology on a large scale is by installing Enterprise Resource Planning (ERP) systems to accomplish their business transaction and data processing needs.

Enterprise Resource Planning (ERP) systems are software packages that use relational database technology to integrate various units of an organization's information
system. ERP systems provide several separate, but integrated modules, which can be installed as a package for any organization (Scapens and Jazayeri 1998). Many large
corporations use several different and separate information systems, often because they have merged with and/or acquired other companies with varied systems. An ERP system integrates these separate information systems and results in improved data reliability and processing efficiency. ERP systems quickly became popular with large corporations that needed a seamless integration of their business, but are now frequently used by small to mid-sized companies. The excellent ability of ERP systems to simplify business transaction processing, eliminate work that adds little or no value, and simultaneously improve customer service are the main reasons for the outstanding success and popularity of these systems (Gibbs 1997).

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