Because of the unexpected and catastrophic impact that COVID-19 has had on the global economy, more companies are now investing in Enterprise Resource Planning or ERP.
ERP is the ability for a business to be prepared for unanticipated events that could impact its market and industry. ERP solutions allow for growth despite adverse events that might affect the enterprise. These technologies are now one of the standard systems in all companies. It is also essential to ensure that critical processes are carried out to benefit customers, employees, and the business.
ERP can be traced back as far as the 1940s. This was the time when many companies sought to develop calculating machines with the hope of reducing their production costs. Manufacturing companies looked for a system to monitor and control inventory and founded Inventory Management and Control. This system is the core of ERP technology we have today.
The past and future of erp
ERP is now a standard cloud technology. Cloud ERP began in the 2000s. It has improved slowly with each passing year and the technology that is being developed around the globe. Now ERP solutions can be found in software as a service (SaaS), allowing companies to subscribe to their ERPs rather than purchasing expensive servers. ERPs have become more reliable than ever in meeting the needs of every company, particularly during unintended crises that can impact the whole market.
ERP implementation is a great way to help SMEs and large companies especially in the midst of pandemic or any other global problems that can affect the market. This will also allow you to ensure your company’s survival in any market downturn or any other mishaps.
To know more about the history of ERP, you can read this infographic from Integral Management Systems.