What is ERM?

Short for Enterprise Relationship Management. ERM is the process by which organizations in all industries assess, control, exploit, finance, and monitor risks from all sources for the purpose of increasing the organization?s short and long term value to its stakeholders.? ERM relates to solutions allowing an enterprise to share customer, product, competitor and market information to accomplish goals of meeting long-term customer satisfaction and increased revenues. It refers to the management of information from any or all of an organization's customers, suppliers, business partners and employees.In simple words it is a software that helps in an efficient management and utilization of resources reducing costs.