“An ERP is more than simply an elaborate transaction processing system.” Elaborate this statement.

It is a decision support tool that supplies management with real-time information and permits timely decisions that are needed to improve performance and achieve competitive advantage. Online analytical processing (OLAP) includes decision support, modeling, information retrieval, ad hoc reporting/analysis, and what-if analysis. Some ERPs support these functions with their own industry-specific modules that can be added to the core system. Other ERP vendors have designed their systems to accept and communicate with specialized bolt-on packages
that third-party vendors produce. Sometimes the user organization’s decision support requirements are so unique that they need to integrate in-house legacy systems into the ERP.