Due to the devastating and unexpected effects of COVID-19 on global economies, more companies are investing in Enterprise Resource Planning (or ERP) for their business.
ERP allows you to prepare for unexpected circumstances that could affect your business or the market it is in. ERP solutions can also help with growth, despite adverse changes within the company. They are now standard technology in every company. It helps make the critical processes that customers, employees, or businesses need.
Early history
ERP can be traced back to the 1940s, when multiple companies looked for ways to create calculating machines to reduce and ease their operations. After that. manufacturing companies began to look for a system that can manage and control inventory. This led to Inventory Management and Control, or IMC for short, and the core of today’s ERP solutions technology.
The future and present of erp
Cloud technology has made ERP a mainstream system. Cloud ERP was first introduced in 2000 and had been steadily improving with the advancements in technology around the world. Software as a Service (or SaaS) is now an option for ERP. This allows companies to have their ERPs via subscriptions rather than having expensive servers. ERPs can be used to meet every company’s needs, even during unwelcome crises that could affect the entire market.
ERP implementation will be a huge benefit to large enterprises and SMEs asit can ensure the survival of any company in times of market downturn or other mishaps that may affect not just local but global market as well.
To know more about the history of ERP, you can read this infographic from Integral Management Systems.