Enterprise Resource Planning (ERP) – an Innovative Key for the Success of an Organization

Abstract

Enterprise Resource Planning is one of the fastest growing Information Communication Technology (ICT) driven philosophies, which helps the manager to take better decisions. The business environment is continuously changing at a faster pace, which makes the companies to revitalize, reinvent and resize by using open innovative efforts. Enterprises are continuously struggling to improve themselves in the areas of quality, time to market, customer satisfaction and profitability. Today’s plan can make the organization as tomorrow’s winner who will embrace open innovative technology like Enterprise Resource Planning. The ERP software fulfills these needs. This paper discusses about the new open innovative technology-Enterprise Resource Planning. For this purpose case study is done by selecting some organizations, which have implemented these ERP packages. The main research objective is to identify the factors which contribute towards effectiveness of ERP and its application to enhance the managerial effectiveness based on factors like reducing cycle time, faster information processing, improving financial management, etc.