In modern life, Information Technology is the key term for doing any Business. Technology based Business is easy to expand anytime anywhere. In Business Management, an organization can able to handle large workload effectively through Enterprise Resource Planning (ERP). ERP system is a wide integrated information system of an organization that manages all units like Marketing, Operations, Administration, Finance, Human Resources, R&D etc.. Nevertheless, small organizations are investing for ERP with medium and large enterprises over the world for better business management. This study focuses on impact of ERP system in Business Management of organizations. The study also identifies and analyzes the limitations inherent in ERP systems when applied to Business Management practices. Additionally, it seeks to evaluate the efficacy of ERP systems in the management of crucial organizational functions, particularly focusing on inventory and finance management