Please discuss the importance of Enterprise Resource Planning (ERP) for an organization.

NOTE: Enterprise Resource Planning (ERP), is a business management paradigm that integrates all facets of the business, including planning, manufacturing, sales, finance, and accounting. It will establish a theoretical foundation of ERP systems and examines business function, processes, data requirements, development, and management of ERP systems for sales, marketing, accounting, finance, production, supply chain, and customer relationship management.