Before we get into the nitty-gritty of cloud ERP lets first understand the meaning of ERP. Enterprise Resource Planning or ERP is an application which automates business processes, enabling a centralized system to run your entire business. ERP revolves around a central database involving different units or departments in a company. At the core of ERP sits the inputs from different departments like accounting, sales, marketing, supply chain and human resource. ERP has become one of the most essential tools for a company. All-size businesses have leaned towards ERP as a one stop solution for reducing costs, increasing efficiency and responding to the changing needs of the customer.