Enterprise Resource Planning software (“ERP”) has been an integral part of most large enterprise IT environments during the past twenty years. ERP software integrates data about the business with processes to run and control the business. Over the years, ERP has evolved from an on-premises software connecting multiple locations by private networks to hybrid or cloud-based applications, which users can access from almost anywhere. ERP platforms are critical enablers of finance, accounting, and operations teams.
During the same twenty-years ERPs became ubiquitous, businesses also became more focused on their core value-add and less vertically integrated. Additionally, businesses in all industries are becoming more dependent on technology to deliver products and services to customers. These two trends operate in tandem, elevating the strategic importance of vendor and tier one supplier management in delivering final output.