ERP systems have become vital strategic tools in today's competitive business environment. This ongoing research study presents a review of recent research work in ERP systems. It attempts to identify the main benefits of ERP systems, the drawbacks and the critical success factors for implementation discussed in the relevant literature. The findings revealed that despite some organizations have faced challenges undertaking ERP implementations, many others have enjoyed the benefits that the systems have brought to the organizations. ERP system facilitates the smooth flow of common functional information and practices across the entire organization. In addition, it improves the performance of the supply chain and reduces the cycle times. However, without top management support, having appropriate business plan and vision, re-engineering business process, effective project management, user involvement and education and training, organizations can not embrace the full benefits of such complex system and the risk of failure might be at high level.