Lanka's economy up 8% in 2010

Sri Lanka's economy grew by an impressive 8 percent in 2010, reflecting a fast recovery from the setback suffered for many years and moved to a high and sustainable growth path.

All key sectors of the economy demonstrated commendable performance in 2010, underpinned by the peaceful domestic environment, and improved investor confidence, favourable macroeconomic conditions and gradual recovery of the global economy from one of the deepest recessions in history.

Providence Network and Solutions (Pvt) Ltd., Managing Director Dr. Vaz Gnanam said "In harnessing this growth companies will require high-end integrated system solutions, which are discussed at the special forum; The Post-War Evolution of integrated Systems in Sri Lanka organised by Abas Software AG and Providence Network and Solutions (Pvt) Ltd. The forum was held recently at the Cinnamon Grand with the participation of industry leaders, business tycoons and other stakeholders who take a keen interest in the economic development in macro as well as at micro level".

Dr. Gnanam said, "Enterprise resource planning (ERP) is a software system that manages internal and external resources, including financial resources, tangible assets, materials and human resources. It builds on a centralised database that uses a common computing platform. ERP systems bring all business operations into one uniform and enterprise-wide system environment.

As new products and product lines become available in a company, along with new customers, ERP consolidates how the information will be available for use by management. New products always pose a problem because the company has no record of product performance to which to refer".