Untitled Flashcards Set

What is the primary purpose of an ERP system?

The primary purpose of an ERP system is integration of applications, processes, and data.

What are some key benefits of integrating data across the enterprise?

Prevent information silos, increase operational efficiency, and provide accurate, complete, and timely data.

What is included in ERP database management systems?

Database programs to keep the database consistent and enforce business rules.

What are pre-designed processes in ERP systems derived from?

Pre-designed processes are derived from industry best practices.

What are the primary measures of organizational health?

Business intelligence and analytics, including descriptive, predictive, and prescriptive analytics.

What is the purpose of Customer Relationship Management (CRM) systems?

To capture and integrate customer data from the organization and manage all interactions with customers.

What does the Supply Chain encompass?

A network of organizations and processes for procuring materials, transforming them into products, and distributing the products.

What are the key components of accounting and finance systems?

Accounting entries, financial reporting, accounts receivable management, treasury, and asset management.

What does Business Intelligence in analytics provide?

Descriptive reports, predictive forecasting, and prescriptive optimization.

What are the challenges of implementing enterprise systems?

High costs, technology changes, business process changes, data standardization, and resistance to change.

What are trend examples in enterprise applications?

Service Oriented Architecture, open-source applications, and cloud-based versions.

What does a profit/loss statement provide insight into?

A periodic look at profitability, including revenues and expenses.

What information does the balance sheet snapshot include?

Assets, liabilities, and equity of the organization.

What is an implementation consideration for human resource systems?

People, departments, positions related to hiring, time and attendance, and payroll.

What is the role of automated controls in ERP systems?

To enforce business rules in processes and workflows.