Blockchain Application in Cloud ERP
Being a transparent, secure and immutable database, business software vendors are working to record everything from equipment maintenance and dispute-resolution systems to shipping manifests and supply chains. Moreover, the distributed ledger technology (DLT) will be able to connect the various enterprise application systems like warehouse management system (WMS), customer relationship management (CRM), manufacturing execution system (MES) and of course enterprise resource planning (ERP) to being the most of the business while avoiding disputed and keeping the trust between the merchants.
Ever since the blockchain is introduced, it has continued to evolve and find its application in various industries. The not even single sector is left untouched by blockchain. After realizing the potential of blockchain, ERP software providers are going wild and planning to integrate their product blockchain to eliminate the current limitation encountered by ERP software. Blockchain, when integrated with ERP software, can set a whole new paradigm of thinking about how to implement modern, reliable IT technology into existing business processes. Thanks to an unmatchable characteristic of the blockchain.
The advantages of integrating the blockchain with ERP is the win-win situation for the merchant from both sides. Blockchain, firstly, will bring transparency and security that current ERP system failed to deliver to the certain extent. Secondly, it can lessen the overall cost of tracking and reporting which is currently skyrocketing. Third, blockchain will make the multi-stage supply chain and distributing mechanism even simpler. Above all, being an immutable database every transaction in the form of various processes will be recorded here and can be accessed and updated on real time for the convenience of merchants resulting financial transaction more transparent and reliable.
These systems together will build, ship, track, and purchase the products while recording the transaction data on blockchain which can be tracked and used any time for reference of any purpose.