Enterprise resource planning is an integrated system used to manage authoritative business records and processes such as finance, accounting, materials, inventory, projects, purchasing, and operations, depending on the implementation. In VendrNova’s architecture, the ERP remains the financial system of record while procurement orchestration coordinates the decisions, evidence, workflows, suppliers, and agreed system handoffs around it.
In plain English
An ERP is the organization’s core operational and financial record system.
Illustrative example
At Northstar Industrial Systems, the ERP remains authoritative for agreed supplier, purchase-order, receipt, invoice, and financial records while VendrNova coordinates the surrounding procurement process.
- Related terms
- ERP-additive procurement; System of record; ERP integration; Reconciliation
- Lifecycle stages
- All stages
- Stakeholders
- Finance; IT and Security; Procurement; Operations