Blockchain Technology and its impact on ERP
Transparency is something very important when it comes to certain areas of an organization. At the same time, it is also important to make sure that one does not lose credibility and grip while being transparent. This is a difficult equilibrium to maintain because it is a narrow distinction to maintain. The aim behind bringing that level of transparency should be to maintain accountability and to ensure that possible threats and risks. Blockchain technology is one such system that is believed to set this at the right.
Blockchain technology in the new era
Something all of us fear about the cyberspaces of today is the threats they pose. One can never stay confident enough and claim that their social media accounts are hack-proof, their emails have never been compromised, or that they are completely guarded against all the cyber criminals around them. Until and unless you have a team of cybersecurity experts to back you up, you can never say that no hacker will get you in trouble.
Because of this same reason, it is important to have a fail-proof system in this era. Today, people are widely using the digital world in their personal as well as their professional life. The blockchain system is designed and developed in a way that it becomes extremely difficult for one to exploit that system and make their way into accessing the system.
Blockchain Technology and ERP
The level of safety and fail-proof mentality of blockchain technology has risen to be one of the perfect fits for enterprise resource planning to a great extent. ERP attempts to centralize the entire organization into a single platform to ensure better management, accountability, functioning, productivity analysis, etc. It is a well-known and accepted fact that ERP has made numerous changes to the supply chain management system in a very productive way. Because the access to real-time info completely transforms the ways in which these institutions function. Adopting blockchain technology within ERP, will be much beneficial for the companies as their data remains much safe and secure and nobody will be able to exploit or manipulate the data and systems involved.