Don’t Speak ERP? No Problem! Learn the Lingo with These 15 Easy Definitions

1) Modules :
ERP modules are specialized components that offer functionality for various business operations such as sales, inventory management, accounting and human resources.

2) Dashboards :
ERP dashboards provide real-time insights and visual representations of key performance indicators (KPIs), allowing you to keep track of your business operations in a single glance.

3) Workflows :
ERP workflows automate repetitive tasks and ensure smooth transitions between different stages, streamlining your business processes and saving time.

4) CRM (Customer Relationship Management) :
A system that helps businesses manage interactions with their customers and potential customers fostering better customer loyalty. 

5) PLM (Product Lifecycle Management) :
PLM tracks every stage of a product’s life, from design and manufacturing to maintenance and obsolescence, ensuring that your product is well-managed from conception to retirement.

6) POS (Point of Sale) :
ERP POS systems handle your transactions, manage inventory and keep your sales data organized, making it a one-stop solution for all your retail needs.

7) Integration :
The process of connecting various modules and functions of an ERP system to work together and share data seamlessly.

8) Customization :
Tailoring an ERP system to meet specific business needs and requirements. 

9) Implementation :
The process of installing and configuring an ERP system to suit a business’s needs and requirements.

10) Cloud ERP :
ERP software that is hosted on the cloud, allowing businesses to access the system from anywhere and on any device. 

11) Business Intelligence (BI) :
Software and tools that help businesses analyze and interpret data from various sources to make informed decisions. 

12) Supply Chain Management (SCM) :
The process of managing and optimizing the flow of goods and services from suppliers to customers.

13) Business Process Automation (BPA) :
The use of technology to automate manual business processes, reducing errors and increasing efficiency.

14) Business Process Management (BPM) :
BPM is the practice of improving and optimizing a company’s business processes. It involves mapping, analyzing and redesigning business processes to increase efficiency, reduce errors and improve productivity.

15) Business Requirements Document (BRD) :
The compass that guides your project, capturing the essence of your business needs and paving the way for successful execution.

By delving into the world of ERP lingo, you’re now equipped to navigate the exciting landscape of enterprise management software. Mastering ERP lingo can unlock the doors to better communication and informed decisions when selecting an ERP system for your business. 

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