The Evolution of ERP: How 5th generation ERP previous generations is shaping business success

By Payal Nambiar, Founder and Director, B-Square Solutions

The rise of new-age technologies marks a significant evolution in Enterprise Resource Planning (ERP) software which powers modern businesses extensively. From originating as a basic tool for the automation of core functions like accounting and inventory management to delivering real-time results with technological advancements the ERP systems are now capable of addressing complex business challenges seamlessly. Today, we stand at the threshold of the 5th generation of ERP systems, which are developed to redefine the organisation operations more exclusively.

What is ERP?
ERP software is an integrated software solution that is designed to streamline and manage an organisations’ core business processes, including finance, supply chain, human resources, manufacturing, services, and procurement. An ERP is utilised as a centralised platform for data sharing and decision-making. It enhances operational efficiency, reduces manual errors, and fosters collaboration across departments.

Over the years ...