The Evolution of ERP Systems: A Look at Sri Lanka’s Technological Journey
Nowadays ERP (Enterprise Resource Planning)systems have become an integral part of the business environment. Basically, the concept of ERP or Enterprise Resource Planning emerged a long time ago. The idea of centralizing all the information of a business and accelerating the workflow was named ERP in the 1990s by the Gartner Group. Over the course of time, the older version of the ERP system evolved into today’s modern ERP. Sri Lanka has also witnessed the evolution of the ERP system throughout the whole time. Let’s discuss Sri Lanka’s technological journey and the evolution of the ERP system in Sri Lanka.
What is an ERP System?
ERP system basically makes the end-to-end connection between all the business processes of an organization. This software system includes business sectors like human resources, manufacturing, finance, supply chain and many more and functions as a single system. ERP system helps improve team management and efficiency, increase sales rate and streamline processes. This software ensures smooth monitoring across the entire entity.
Evolution of ERP System Sri Lanka
Traditionally, ERP systems in Sri Lanka were considered expensive and complex.
SMEs (Small and Medium Enterprises) in Sri Lanka typically rely on basic accounting software due to cost constraints.
The emergence of cloud computing and the Software as a Service (SaaS) model has revolutionized the ERP landscape in Sri Lanka. SaaS-based ERP solutions offer a more accessible and affordable alternative for SMEs.
The SME-driven economy presented a unique market opportunity for local ERP vendors.
With a large percentage of businesses being SMEs, there was a growing demand for ERP solutions tailored to specific needs. Local ERP vendors like Blue Lotus 360 have capitalized on this opportunity by offering flexible and cost-effective ERP solutions designed to cater to the diverse requirements of SMEs in Sri Lanka.
The COVID-19 pandemic has served as a catalyst for digital transformation across industries in Sri Lanka. Businesses, particularly in sectors such as manufacturing, have realized the importance of automation. The pandemic has underscored the need for resilient and agile business operations. Demand for ERP systems is increasing among businesses. It helps organizations make informed decisions, identify trends, and forecast future opportunities and challenges.
Best ERP System in Sri Lanka
ACCSOFT ERP is a comprehensive and integrated software solution for enterprise resource planning. This ERP software can manage a company’s essential financial and business applications, manufacturing processes, engineering, workshops and many more to drive business growth. Also, ACCSOFT ERP efficiently integrates all critical functions of the business into a unified platform. This software eliminates data silos and promotes efficient data sharing and communication. A business company can ensure efficient workflow through this software.
Final Words
Hopefully, you have understood the significance of ERP systems and their role in the Sri Lankan technological field. In brief, an efficient ERP system handles the vital processes and reports when there occurs any serious problems. Use scalable ERP solutions like ACCSOFT ERP to grow your business.
