Enterprise Resource Planning is the latest high end
solution, information technology has lent to business application. The ERP
solutions seek to streamline and integrate operation processes and information
flows in the company to synergise the resources of an organisation namely men,
material, money and machine through information. Initially implementation of an
ERP package was possible only for very large Multi National Companies and
Infrastructure Companies due to high cost involved. Today many companies in
India have gone in for implementation of ERP and it is expected in the near
future that 60% of the companies will be implementing one or the other ERP
packages since this will become a must for gaining competitive advantage.
In the present business environment, role of a Chartered
Accountant is considered to be very important and inevitable. Chartered
Accountants as managers, consultants, advisors or auditors play an important
role in controlling, managing, and supporting the business.
As the business needs are very complex in nature, the
implementation of an ERP package needs Chartered Accountants with functional
skills for evaluation, Business Process Reengineering (BPR), Mapping of Business
requirements, Report designing, ensuring Business controls, customization of the
package for the specific requirements, Documentation etc.,
Sooner or later a Chartered Accountant without the knowledge
of ERP may feel as if he is a fish out of the bowl. By this article it is
attempted to highlight various aspects of ERP and specific areas of ERP that are
relevant for Chartered Accountants.