What is Enterprise Resource Planning?
ERP is an acronym that stands for Enterprise Resource Planning. Enterprise Resource Planning (ERP) has many definitions, but it is typically understood to be a set of software applications that integrate and streamline business processes that are generally used throughout an enterprise such as accounting, procurement, payroll, time sheets, and budgeting. ERP is a way to integrate the data, functions and processes of an organization into one single system. ERP systems have many components, including hardware and software, in order to achieve integration. Most ERP systems use a unified database to store data for various functions found throughout the organization. ERP will be the major component of FI$Cal, and once fully implemented, it will affect everyone associated with the state’s financial processes and make the state’s data management more accurate, convenient, and easier to access.
FI$Cal is still in a procurement phase with prospective vendors. When a contract is made and a particular ERP solution is chosen for implementation more information will be provided about that solution and its effect on departments, employees and the public.