Computerized business applications were born in the accounting and finance world in the 1960’s using mainframe computers. These pioneering applications were faster and more accurate than manual processes – but were expensive, limited in functionality, and still slow. Before long, these applications spawned the development of dedicated, standalone solutions such as sales order processing and manufacturing requirements planning (MRP).
In the mid 1980’s, competition in the manufacturing sector was exploding and new tools were required. New MRP II software integrated accounting and finance, sales, purchasing, inventory, and manufacturing planning and scheduling – providing the manufacturer with an integrated system.
Near the end of the 1990’s, ERP was introduced. ERP transformed the technology sector by serving a broader range of industries and by combining MRP II, human resources, project accounting, and end-user reporting.
In the short span of the 21st century, faster internet speeds and new development tools have again revolutionized ERP suites. The introduction of browser-based software paved the way for cloud ERP, a breakthrough that has expanded both the reach and the functionality of ERP solutions.
Today – in the era of digital transformation – businesses are increasingly relying on artificial intelligence and other innovations to automate their business processes and stay competitive.