By Admin / November 25, 2020
In the modern age, people won’t let inflexible system solutions get in the way of holistic digital transformation. This is true for most of them, including enterprise resource planning . In this light, keeping up with the latest ERP trends is beneficial to consumers and service providers alike.
ERP Statistics show that the market for these tools is growing, adoption is increasing, and innovation is slowly but surely happening. The first few years in ERP innovation were dedicated almost exclusively to moving the solutions to the cloud. In recent years, however, exciting trends have been popping up in the field.
Before you look out for the best ERP company in US, here’s a quick run-through the top trends to expect in 2021.
ERP Software Offering Real-Time Data
Real-time data has always proven to be beneficial for the majority of organizations. Some of the common benefits include:
- Streamlined Business Functions
- Enhanced Customer Experience
- Accurate and In-Depth Insights
This is why it is not surprising to know that most businesses are making ERP software a part of their integral operation.
ERP systems are a combination of multiple tools that are used by various departments. This means ERP is by far the best software to smoothly communicate all your business data across multiple departments.
Another incredible advantage of real-time data offered by ERP systems is, it helps you improve your customer service.
All you need to do is integrate your CRM software with your ERP system and you’ll be able to access your customer’s vital information under one roof. This will also arm your customer service department with customer data like habits, order histories, and other important details.
Cloud Acceleration
Although leveraging a cloud-based ERP software to streamline business operations is not a new trend, it is still a game-changing option. Therefore associating with a professional ERP company in US will help you accelerate the migration.
Earlier, ERP systems were available only as an ‘on-premise’ solution with hardware expenses and startup fees. But ever since the launch of cloud computing solutions, many businesses have switched to these cloud-hosted systems.
With these solutions, organizations no longer need to fret about expensive software updates and maintenance. In fact, they have the option to select only those modules that are required for the available departments. This has further helped businesses keep their budgets under control.
But it does not stop here!
Along with cloud ERP, companies have started integrating hybrid ERP systems. These solutions comprise the strengths of both cloud-based and on-premises ERP while eliminating their weaknesses.
This has resulted in them becoming one of the best ERP software for businesses, especially those who focus mainly on assets and products.
Internet of Things (IoT) Integration
Both Internet of Things and ERP, when integrated, can offer organizations an array of opportunities.
IoT provides a seamless connectivity for every physical device or sensor in your network without the requirement of human intervention. However, only with the help of a customer-centric approach, ERP solutions can leverage IoT.
With both ERP and IoT, organizations can easily collect, evaluate, and assess a huge amount of data via sensors. They will also be able to gather real-time data about their machine’s performance and take a closer look at their production process.
The integration of IoT with ERP systems reduces the requirement of manual data entry, meaning you won’t have to rely much on technicians and can quickly automate your operations. But this is just you scratching the surface, as ERP and IoT bring a lot more benefits to the tables.
ERP systems have always been great in terms of collecting and organizing data. Not as good, however, when it comes to reporting and analysis. But that’s old news because modern ERP systems are now natively equipped with powerful data analytics features. This is mostly because companies are prioritizing the ability to make data-driven decisions quickly.
Right now, most businesses are enjoying ERP systems with integrated analytics, ad-hoc reporting, and data visualization capabilities. This provides them access to relevant information in real-time. Companies use it then to make essential business decisions regarding finances or other business aspects. As a result, decision making is now available at all levels, from the manufacturing division up to the executives.
Going forward, ERP users can be excited about more robust analytics and reporting capabilities. The future of ERP points to an end-to-end tool that can process both structured and unstructured data. This signifies that another process that ERP managers will need to focus on leverage data analytics.
ERP solutions will have access to all data from various departments. Therefore, they have every information necessary to predict future trends. This makes predictive analysis a strong suit of modern ERP platforms.
Going Forward
We are no longer living in an era when ERP systems were available only for large-scale enterprises. With the constant advancements in modular solutions, cloud computing, and other technologies, small-scale businesses can also leverage these systems. This means, as more and more businesses start using this solution, it will become more popular among both innovators and developers.
This is why trends related to ERP will keep shifting and growing.
There are many organizations that have not yet invested in ERP systems or aren’t quite sure about it. Now while we cannot be sure if you absolutely need one, we are confident that these systems are worth a shot!