In the 60s, mainframe applications were used by industries for the purpose of accounting, but with the introduction of PC based system and networking in 80s and 90s, the development of multiuser accounting system started. As the technology advanced to discover micro-computers, the cost of software and hardware also lowered. Web enabled accounting software came into existence in the years 1999-2000. With the changes in technology, the new concept of accounting software as a service (Saas) is gaining market because software companies are searching for low cost accounting solutions, which is easy to install and use.
1960s: JI Case and IBM together start development of application software called material requirement planning (MRP).
1965: Time sharing introduced by BASIC.
1970s: MRP I is used for scheduling and raw material purchases. The production system is designed.
1972: SAP starts making enterprise solutions for companies.
1975: Pre-packaged enterprise solutions designed by Lawson Software. Pre-packaged solutions replace the customised solutions.
1976: MRP I is widely used in manufacturing industry.
1977: Oracle is founded by Larry Ellison. JD Edwards is formed by Jack Thompson, Ed McVaney and Dan Gregory.
1979: Oracle launches the first database based on relational data management concept. VisiCorp uses spreadsheet like program for accounting.
1980: MRP - II is found which enables automated distribution and storing capacity. A complete coordination of production, manufacturing, purchase and inventory is found in MRP II.JD Edwards work on IBM System / 38.
1983: Oracle launches the database models completely written in object oriented language C, which has features of portability and easy use. Dunn and Bradsheet buy McCormack and Dodge.
1984: Oracle software is designed for a PC based system.
1985: SAP launches R/ 2 and JD Edwards becomes the leading supplier of software for IBM AS / 400 computers. Oracle releases its version 5, which runs on client server technology.
1986: Lotus Improv uses spreadsheet program for accounting calculations.
1987 to 1988: PeopleSoft founded by Ken Morris and Dave Duffield.
1990: ERP is recognized as the term used for automating all department of an organization. MRP II comes with extended modules such as human resource and project management. ERP is used for the multi user software application, which can be used for all the internal business processes of an organization.
1991: PeopleSoft extends its market to Asia, Europe and South America.
1992: SAP launches R/3.
1993: First client server accounting system is demonstrated by Platinum Software.
1995: Oracle becomes one of the first big companies to announce its internet policies.
1998: Netsuite is founded.
1999: Platinum software changes its name to Epicor.
2000: Web enables accounting systems are designed. ERP and accounting software can be accessed from any part of the world and modifications can be updated to the main server. Microsoft buys Great Plains. Consolidation of software industry begins.
2001: Software as a service (Saas) comes into existence.
2002: Microsoft takes over Navision and SAP acquires Top Manage.
2003: Consolidation of industry continues as JD Edwards is taken over by PeopleSoft.
2005: Oracle buys PeopleSoft.
2006: Software as s Service gets widely accepted and continues to claim its market share.
2009: Oracle intends to buy Sun Microsystems for $7.4 billion.
