ERP History began with early attempts at using calculating machines for business in the 1940’s. As the focus on factory output increased and computing solutions were created in the 1960s, a need was felt to balance production output and customer demand using the new breed of applications based on them. In the 1960’s, applications that handled inventory management and control were introduced. In the 1960s, Enterprise Resource Planning (ERP) was born in infancy in the early 1960s with a joint effort between J.I. Case, the manufacturer of tractors and other construction machinery, and their IT partner IBM. This further led to the creation of software known as Materials Requirements Planning – or MRP in the 1970’s that helped plan raw material requirements for manufacturing, purchasing and delivery and also kept inventory costs low by managing it better.
By 1975, MRP software was running in hundreds of large companies though it was only affordable for the larger firms. The system ran on huge mainframe computers that were very expensive though their computing power was not comparable even to some of the portable computers of today.
In 1972, the firm SAP was started in Germany. The company initials stood for “Systems, Applications & Products”. It was founded to create business software that worked in real time and this was really path breaking in an era of reel-to-reel tapes and punch cards. SAP launched its first financial accounting system in 1973. Financial management software also started being developed by other firms in the 1970’s though as standalone solutions only.
In the 1980s, MRP evolved to what many termed MRP II, or Manufacturing Resource Planning by adding more manufacturing processes and capabilities in order to manage them holistically as a one stop production planning solution.
The term ERP – Enterprise Resource Planning was first used in the 1990’s. The nomenclature was created by the Gartner Group essentially to refer to software that extended MRP with extended functionality to do deal with other business functions like engineering, finance and accounting, HR and project management etc. The approach was modular applications with advanced features. All the systems in the 1990’s used a legacy on-premise model till Netsuite came into being in 1996 with the creation of an ERP system that worked across the business functions of a company but was not on-premise and was delivered over the internet.
In 2000, the Gartner Group defined ERP II as internet enabled software that gave real time access to the ERP solution and also provided functionalities to integrate with systems outside of the business like supply chain management, customer relationship management (CRM) and business intelligence. Interaction via mobile devices was possible and more web-based functionalities were part of this new breed of ERPs.
After 2005 or so, the trend has turned towards cloud software solutions and moved away from traditional client servers models due to comparable security; better disaster recovery options, flexibility/ scalability options, affordability, anytime/anywhere access features being offered by them. Now, cloud ERP software solutions with comparable functionalities when compared to client server systems are available at a much lower price and hence attractive for even small and mid-sized businesses.
Today’s ERP systems are often cloud-based and delivered via the software as a service (SaaS) model with remote, web-based access via advanced apps that run even on mobile devices. Today’s ERP systems cover every necessary aspect of business and have advanced reporting, analytics, business intelligence tools and functionalities. The future will see the integration of ERP with IoT, IoE, social media and greater security competence. As broadband speeds and cloud technologies improve as we speak the volume of data and transactions that can be handled by cloud ERP systems will increase exponentially to appeal to even the bigger players.
We at VersAccounts have created a secure cloud based one stop comprehensive ERP solution. It has been created to take care of all the business needs and concerns for operating your business effectively. It addresses key issues of the small business domain in the most effective manner possible. It is affordable and targeted towards SMB’s and is backed by a promise of dedicated support. It is being used by clients in diverse verticals and could help you redefine the way you operate and grow your business.
Our solution is designed for fast growing businesses, between $1-$50M in annual revenue, looking to upgrade business management solutions like entry-level accounting products or mid-tier legacy on-premise ERP systems or even those looking at comprehensive and affordable ERP solutions. Our solution is built to be capable, affordable and easy to use by small and mid-sized businesses.
With the VersAccounts ERP solution, you can have project management, multi-entity accounting, purchasing & order management, distribution, production, customer relationship management (CRM), e-commerce, multi-channel retail, advanced inventory management, reporting & BI, document management, security, mobility, global relevance, pre-existing 3rd party integration and DSCSA compliant functionalities built into one solution for easy operability across your business functions. There are customization options with easy migration from and compatibility with respect to other systems preexisting or in the business environment.
Built from the ground up on the latest cloud and mobile technology, the VersAccounts Cloud ERP system allows businesses to automate and optimize their operations across multiple companies, countries, and currencies with one integrated ERP system.
We will help you in a structured manner to migrate your data seamlessly from Epicor, Infor, QuickBooks, Microsoft Dynamics, MYOB, Sage, SAP Business One etc when you make the decision.
To know more, please visit www.versaccounts.com or contact us directly.
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