ERP is no more a buzzword or a concept, it is real and here to stay. With most businesses looking to streamline their process and work to become profitable, the demand for an Enterprise Resource Planning solution is on the rise.
Tailor-made solutions, compliance of regulations and cloud-based will be among the topmost trends in ERP technology this year. More organizations will want to change their service providers including their enterprise solutions. Those businesses looking to add or modify their enterprise solution will expect more features and search for those providers who offer them. These features would help to improve output and influence disruptive tech that’s become the norm today.
Being aware of the developing trends in ERP offers you an opportunity to know what you must do in the organization to get the desired results from an ERP implementation. So, what are the top emerging trends in ERP this year?
Migrating the ERP to the cloud has been a major talk-point among experts, however, ERP migration has been slow compared to other systems like CRM and HR especially for SME’s. This trend is likely to change this year with many businesses opt to migrate their ERP to the cloud. A cloud-based ERP will let businesses leverage new features such as automatic updates, universal accessibility, higher security, and patch management and other functions that are pushed out regularly.
The demands for multi-tenant ERP solutions may increase. This would also help to reduce the cost of these ERP solutions while using a comprehensive ERP making it ideal for SME’s working on limited budgets. On the other hand, hybrid-cloud-based ERP solutions will offer businesses that need core data and functionality to be kept on-premises due to security and regulatory issues. Hybrid solutions will offer the best of both worlds.
Tailormade ERP solutions on the rise
More firms are looking for ERP solutions that offer industry-specific features they require. Getting industry-specific solutions will help businesses tired of paying for additional customizations and other fixes to get their ERP to do what they need. It’s this customer-focus that will become the norm this year.
How does one know if the ERP is successful? Well, the number of people using it will tell you for sure. With the growing demand for ERP, it must have a user-friendly interface. The benefits of ERP are undeniable, but if it is not easy to use and intuitive, many organizations may not adopt it. Therefore, mobility, integrated dashboard, and other easy-to-use features must be included in the ERP to motivate your workforce to start using ERP solutions quickly. So, more ERP providers will look to offer these features and more.
IoT (Internet of Things) with ERP
IoT offers unified connectivity with all physical devices and other sensors allowing for the exchange of data and communication with other connected devices, over the same network without the need for human intervention. Thus, adopting IoT along with ERP will open various possibilities making the ERP solution intelligent, flexible, with instant access. IoT will help businesses collect, analyze, and process big data offering insights on improving the efficiency and productivity allowing them to offer better services and adopt customer-centric strategies.
Easy Accessibility with Mobile Integration
With the changes in the working system and increasing incidences of remote work, it is necessary that the users can access the ERP dashboard from anywhere, using any device, at any time. The ERP that offers mobile integrations will help users access it from their smartphones, tablets, and interchange the devices seamlessly. In other words, ERP would get a mobile-first approach.
ERP is used to unify the various core processes in an organization. However, this may change as large organizations need specialized ERP solutions for the major departments such as accounting, sales, manufacturing, and others. This would lead the ERP vendors to create tiered ERP solutions for the various organizations. For example, a top tier for the headquarters and a lower tier for its subsidiaries and branches.
Just like more ERP solutions can be accessed using various devices, they would also be made accessible across several operating platforms and applications. Additionally, it would also be able to integrate with more third-party apps, customers, suppliers, and other stakeholders. This integration would be hassle-free and automated offering a plethora of advantages such as tracking orders, accessing real-time data, and many other benefits. Moreover, this integration has the potential of reducing the cost of hardware and software in business significantly.
The ERP trends for this year suggest the market will be consumer-focused. ERP solutions will become made more approachable and attractive for SME’s. This will help to increase the adoption rate of the ERP solutions as they will be easy to use, have increased accessibility, and be cost-effective. IoT, Machine learning and AI will be leveraged to improve the intelligence and features of the ERP solutions. The vendors will tailor their ERP solutions to cater to the individual business requirements.