Enterprise Resource Planning tools are widely being used by corporations worldwide as they help enterprises in keeping a tab of their resources, both tangible and otherwise for a fruitful future.
Some of these tools include SAP Business One and SAP Business ByDesign. These tools have revolutionized the way businesses operate by streamlining business processes in no time.
If you’re yet to resort to ERP software, Business Line is one such forum that can help you do that with ease. Head over to the website, consult some of our most sought-after IT professionals and get our recommended ERP system implemented successfully in no time.
Now that you know how pertinent Enterprise Resource Planning has become for the successful running of businesses, let’s highlight some of the current ERP trends that are going to shape the future of the software and its users alike.
Earlier, businesses were a bit reluctant to hand over their key processes and applications to the cloud. However, with the tech world booming and becoming more advanced, cloud ERP proved its mettle in the industry and gained the trust of these enterprises, eventually becoming their preferred choice.
With its not-so-complex deployment and easy-to-use interface, cloud ERP aids in efficiently transferring all your servers and applications to a secure cloud environment without much hassle.
Furthermore, it also empowers employees by allowing them to perform necessary tasks even from the comfort of their homes, providing greater efficiencies and larger economies of scale without any major continuity risks.
For large organizations that have various regional offices with their headquarters located elsewhere, a single ERP system can prove to be a nightmare. As different offices have different requirements, a single ERP system used by them is not only unmanageable but also very costly.
Therefore, this is where the two-tier ERP comes into play. Becoming one of the ERP trends of today, it enables businesses to have one tier designated to the corporate level, while the other tier, often cloud-based, helps subsidiaries and prospective mergers function effectively.
This not only promotes increased agility but also synergy between the two tiers as they can exchange data when and where required, allowing them to adapt to the ongoing business trends much more effectively.
Considered to be the juggernaut of digital transformation, ERP has immensely helped businesses in their digital transformation journeys. Shifting all business operations to the digital stream is a complex task but a cloud-based ERP does it with ease. Providing an all-encompassing platform, it enables businesses to boost their sales as well as increase employee productivity and customer satisfaction.
Technologies like AI have also become a major part of this software. When the entire world was struck by COVID, a lot of organizations integrated AI with ERP and democratized it for a smooth and profitable digital shift.
Being one of the top digital transformation trends of 2022, Artificial Intelligence (AI) has been employed by organizations left, right, and center for better monetary results. Nonetheless, merging it with ERP has also recently garnered attention. The two when used hand in hand help present the right data to the right person at the right time, so that the concerned stakeholders can take immediate action.
Instead of analyzing large heaps of data, you can use AI that can sift through it all providing you with only the pieces of information that are critical to the matter at hand, eventually leading to faster decision-making and larger economies of scale.
Not only that, but it also helps businesses scale and manage their inventory by studying customer demand and consumer behavior.
The Internet of Things (IoT) and Analytics
ERP coupled with technologies like IoT (The Internet of Things) is gaining even more momentum over time. Many organizations are employing this technology that connects computers to various other devices and helps them exchange data and digital ideas at a global level.
By streamlining all core business functions conveniently, it aids businesses in managing assets and handling eCommerce to getting real-time analytics and forecasts among many other things so that they can reach better decisions in no time.
However, the thing that made IoT the center of attention in recent times is its uncountable benefits that facilitate the growing needs of consumers and organizations. By encapsulating the entire digital universe, It helps enterprises produce high-quality products and compete in the fast-paced world of the Internet.
Traditionally, ERP solutions were a bit complex to give enterprises a personalized experience. Nonetheless, now that most businesses are relying on the software and its cloud-based solutions, it has become more advanced, providing them with tailor-made solutions specific to their individual needs.
Moreover, since consumers also demand a personalized shopping experience, AI coupled with cloud ERP helps customize dashboards and chatbots, providing them with products and information as per their liking.
By connecting all stakeholders within an organization, mobile ERP helps every department remain in sync with one another at all times regardless of their location. For instance, by adding real-time inventory levels in the ERP system, the warehouse workers enable other employees to access the data on the go and make decisions accordingly, leading to increased agility.
The pandemic further added to its credibility and turned it into a norm when most employees were working remotely but were still united through a centralized ERP system that they could access from the comfort of their homes, allowing them to perform all sorts of tasks related to both warehouse and retail.
By giving an overview of the ongoing ERP trends, we’ve given you a peek into the future of Enterprise Resource Planning. Cloud-based ERP, coupled with the rest of the components and trends aids businesses in the successful transformation to the digital realm.
Nonetheless, if you’re still contemplating the shift and are a bit lost about whether you should incorporate the ERP software or not, no worries! Simply resort to BusinessLine and leave everything from assessing and planning to predicting and implementing to the most top-notch professionals in town.