The unexpected and disastrous impact of COVID-19 upon the global economy has led to more companies investing in Enterprise Resource Planning or ERP.
ERP gives you the ability to plan for any untoward circumstances that might affect your business and market. ERP solutions are a standard technology within any company and allow growth despite adverse events. It can also help make critical processes that employees, customers, and businesses need.
ERP can be traced back to 1940. In the 1940s, several companies searched for ways of making calculating machines to ease their operations. After that, many manufacturing companies sought a system to monitor and manage inventory. This resulted in Inventory Management and Control (IMC) and is the foundation of ERP technology today.
FUTURE AND THE PRESENT OF ERP
ERP is now in the cloud, as has any other system. Cloud ERP was established in 2000, and it has grown slowly along with technology. The new ERP solution is a software as a cloud or SaaS. This allows companies to use subscriptions for their ERPs instead of paying expensive servers. ERPs are now more reliable than ever because they can meet all company needs, especially in times of crisis that could impact the entire market.
ERP implementation can be hugely beneficial to both large and small enterprises, especially now that the world is still facing the threat of COVID-19 and markets are still on the long process of standing back up again. ERP also ensures the survival of any company regardless of market decline or any mishaps like what we are facing today.
To know more about the history of ERP, you can read this infographic from Integral Management Systems.