The first iPhone went on sale June 29, 2007. Over the following decade, it became one of the most transformative technologies ever introduced. Few people realized it then, but that day in late June represented a major tech milestone.
On the anniversary of that date, we began thinking about the evolution of ERP over the same period. It has not had the same public impact as the first modern smartphone, but the scope of the change is just as sweeping. ERP has transformed into one of the most ubiquitous and mission-critical business solutions available.
If you are relying on an older ERP product or have avoided an implementation, you are probably not aware of how much ERP has advanced and matured. Here are some of the highlights from the last decade:
- ERP for All – Originally, ERP was a solution that was only necessary for and accessible to the largest corporations. But now that small and midsized businesses, as well as churches and nonprofits, are contending with huge amounts of data ERP is an essential tool for all. Luckily, the cost and complexity of ERP have declined in the last decade, making it a tool far more businesses can benefit from.
- ERP in the Cloud – The cloud is now the platform of choice for ERP. Countless companies have realized that an on-site deployment creates a lot of problems without having many advantages. The cloud, by contrast, is more flexible, economical, powerful, and safe than ever before.
- ERP and Automation – ERP is no longer just a way to get rid of spreadsheets. It's also a way to boost productivity through automation. The combination of smarter technologies and larger data sets empowers modern ERP to automate workflows and generate insights independently. That puts advanced analytic capabilities into the tool kit of more companies.
- ERP for Flexibility – We used to think of ERP as a solution to a set of very specific problems. But forward-thinking companies now understand the primary benefit of ERP is the flexibility it builds into operations. When there are suddenly new regulations, market forces, or competitive challenges to contend with, ERP allows companies to adapt operations with ease.
This list is far from complete. And to fully appreciate how much ERP has evolved in just 10 years, you really need to examine a next-generation solution up close.
Sage Intacct combines the strongest ideas from the ERP of the past with the smartest ideas from the ERP of the present. That is why it's posed to become the ERP of the future, especially for accounting and finance professionals. When you're ready to explore all that it can do, contact the experts at AcctTwo.