As per the 2020 economic report of Oman, the country was predominantly dependent upon the oil and gas resources for its revenue. However, the economy there is now diversified to take the nation's income dependency away from oil and gas industries. The country has earmarked five potential sectors that are assumed to serve high economic returns. These sectors include fisheries and agriculture, transport and logistics, tourism, and mining. To achieve this fiscal objective, the country's government has opened ways for foreign investment participation in joint ventures, typically in industrial sectors. So, it is clear that Oman is a mixed economic country with considerable participation of the government in transportation, industry as well as communication. The GDP in the current fiscal year is 2.7%. However, the government is still actively working to diversify the country 's economy to encourage more private investments. The economic freedom score of Oman is 64.6 making its 2021 world's freest revenue index rank 71st.
Enterprise Resource Planning In Oman
Being an economically potential sector, the Oil and Gas industry had and still has a significant contribution in the country's overall revenue. Again, the need for a viable Enterprise Resource Planning (ERP) system in this business sector cannot be gainsaid. Not just Oil and Gas, but a successful ERP implementation has greatly influenced the administrator, efficiency, and productivity of other potential sectors of Oman including manufacturing, cement, mining, and more. A qualitative and quantitative analysis was carried out on those sectors of Oman that provides the highest source of revenue to the country. The data hence collected, showed that these sectors should actively start using ERP solutions and services to boost their growth in every aspect.
Currently, on-premise or Cloud ERP is the best trend in the market for its ability to simplify industrial process planning and organization, thereby eliminating repetitive processes. It also helps reduce the manual interventions in the management sector to a greater extent. Plus, companies can be quicker and more efficient in collecting and streamlining all sorts of data from across different departments.ERP by Matiyas is one such agile business planning solution provider that ensures the best ERP system in the world. It is designed to ensure both simplicity and power to your business.
Matiyas believes in simplifying businesses with its agile ERP solutions that integrate vital business processes and real-time business insights, streamline industrial practices, ensure improved collaboration among users from data sharing, purchasing to outsourcing orders, and more, within the shortest possible interval so that clients can start savoring the ERP benefits at the earliest.