ERP Software: The Mother of all Enterprise Solutions!

An Enterprise Resource Planning or ERP solution often acts as the connecting system across a business organization. It integrates all major business functions which otherwise would have been one vast fragmented ecosystem where disconnected departments work in silos.

The omnipresence of an ERP system across businesses underscores the integral part it plays and the value addition it brings to a business’ growth and expansion. But did you know ERP systems have been around for a long time?

A peep into ERP history

In the 1960s, the idea of an ERP system called Material Requirements Planning or MRP was conceived by a construction company, that worked in liaison with IBM to develop the technology. Various other bigger organizations soon emulated it.

These initial models came with a host of challenges that impeded widescale adoption significantly. Firstly, it was expensive, secondly, it required a team of experts to track its performance consistently. However, it did make tracking inventory and managing production schedules easier.

Despite the obvious limitations, as time progressed, these early models garnered much attention, nonetheless, it remained a prerogative of large companies. SMEs could hardly afford the exorbitant costs involved.

A far superior and sophisticated ERP model came about only in the late 80s. These systems supported not just procurement and inventory management but also made manufacturing management hassle-free.

Birth of ERP Systems as we know it today

By the 1990s, a research firm coined the term “Enterprise Resource Planning” or ERP as we know it today. This name became a wake-up call for other business enterprises to recognize that the potential of this new technology extends way beyond the manufacturing industry and that it is a system that can be adopted by all other segments as well.

This set the wheels in motion for the ERP system to be adopted as a unified database of sorts, one source of truth for all functions across the business. The ERP system became the unifier of various business functions that were all equally important in running the business operations effectively like accounting, HR, Sales, Engineering, Inventory, etc.

Maybe that is why it is befitting to call the ERP system the mother of all enterprise solutions!

Cloud ERP

In time, ERP models kept evolving and the inception of Cloud ERP marks a seminal event in the history of ERP systems. Cloud ERP systems empowered businesses to access critical data from anywhere via any device, all they needed was a stable internet connection.

The biggest advantage of a cloud ERP system is that companies need not invest heavily in hardware purchases or maintenance. It reduced IT staff requirements and hence made integrations easy and cost-effective.

And the best part is that with the evolution of Cloud ERP systems, smaller companies too could now afford to reap the benefits of a comprehensive ERP system. ERP systems significantly improved accuracy, elevated process efficiencies, and hence ensured greater ROI.

Check out Finnzer, Abzer's smart ERP system, tailor-made to meet the unique demands of enterprises. With a robust dashboard designed to empower your business, Finnzer is aimed at ensuring your business growth and expansion while cutting operational costs and enhancing process efficiency, all with a simple and easy-to-implement system.

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