Today's advanced ERP systems have evolved over time, and in several phases. The reason for the transition from MRP systems (Material Resource Planning) that occurred in the 70s and 80s years of the last century to ERP systems was the need for stronger integration of processes in the companies. Therefore, data integration has become necessary for greater system functionality. An ERP system can be defined as a framework for organizing, defining, and standardizing business processes needed to effectively plan and control organization’s resources. In its first phase, ERP is a common enterprise database that serves to exchange information between different departments in an organization. The second phase of ERP comes in the early 2000s when traditional ERP was expanded with multiple modules. It integrates the underlying system with supply chain, CRM and data warehousing. The use of the Internet also comes to the fore here. With the development of technology in year 2010 came the ERP III phase which further expands the system with Cloud and SOA technology, incorporating social networks and other web tools for better interaction. It is considered that at this stage ERP crosses the boundaries of the enterprise according to the virtual value system. Some of the most advanced ERP software systems today are SAP, Oracle Cloud, Microsoft Dynamics, IFS Applications, and Odoo that have evolved from traditional to third generation systems. The purpose of this graduate paper is to analyze the development of advanced ERP systems from their inception until today. Several advanced ERP systems of today are presented and described with emphasis on their most important features, implementation, modules and applications they support.