Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

Understanding ERP characteristics

ERP is a mission-critical application for business, as day-to-day activities rely on this application where the end users enter transactions and the management is able to monitor the business performance on a daily basis and take decisions within a proper time period. The ERP application has different characteristics from any other application, and these characteristics are mentioned in the Wikipedia definition:

"A business management software-usually a suite of integrated applications-that a company can use to collect, store, manage, and interpret data from many business activities."

From this definition, ERP is an integrated application. In the past, each business area had its own application, and this ...