AUTOMATING FINANCIAL AND OPERATIONALPROCESSES USING ERP SYSTEMS IN DEVELOPINGCOUNTRIES: TRENDS AND CHALLENGES

This literature review explores how the implementation of ERP (Enterprise Resource Planning) systems helps automate financial and operational processes. ERPs integrate different business functions such as financials, logistics, human resources and other modules improving efficiency and transparency. Although ERP implementation holds great potential in company transformation, this process has significant challenges like high initial implementation cost, expensive infrastructure and maintenance, lack of skilled resources and organizational resistance to change. The review highlights of ERP advantages such as unified processes, having all data in one place, improved collaboration between different departments, which are very important for companies. New trends, especially artificial intelligence for automatization of different processes and real time data analysis for better decision-making need to be taken into consideration for their potential to reduce cost and increase performance. Companies in developing countries might face atypical barriers during digital transformations like local fiscal regulations and cultural resistance, which can be very important to be consider ensuring project success. Future research should focus on making AI technology usable on this products even for the small enterprises, collaboration with academic institutions to make the implementation modular and pre-setup. This will ensure easier access to this kind of projects for every company and driving substantial economic growth.