The acronym ERP stands for Enterprise Resource Planning, which refers to integrated management systems that streamline business processes across various departments, such as finance, HR, and supply chain. ERPs facilitate real-time data sharing, ensuring that all functions operate with a unified view of organizational activities. This integration promotes efficiency, reduces data silos, and enhances decision-making by providing comprehensive insights into performance. By automating routine tasks and optimizing resource allocation, ERP systems also support growth and scalability, making them essential for modern business operations.