Keeping pace with the modern business world may seem a hard nut to crack with inflexible system solutions. Business organizations striving substantial progress and exponential expansion worldwide won’t let such a system get in the way of their goals. This is true for most of the solutions, including ERP software solutions or enterprise resource planning. In such a case, moving with the latest ERP trends and forecasts is fruit-bearing to consumers and alike service providers as well.
Going through the collection of ERP statistics can help you find the growing market for these intuitive tools, increasing adoption, and steady but definite innovation. With the inception of this robust, cloud-based business management solution, technicians dedicated the first five years in ERP innovation to smooth movement to the cloud. With the passage of time, increasing demands, and the introduction of advanced technology, enticing trends have been popping up in the sphere.
Here, you can spot the most relevant and beneficial ERP trends, giving momentum to most of the business organizations and driving holistic digital transformation.
New ERP Trends for 2020
ERP software solutions have gone several changes and modifications since its introduction. Although these power-packed cloud platforms served companies well, advancing businesses must look into modernization favoring trends to stay ahead and grab organizational benefits.
Unfortunately, the disadvantages of legacy ERP systems made ERP software solutions unappealing to most advancing businesses. However, there are multiple good reasons supporting the deployment of such efficient solutions, most favoring ones are listed below:
The emergence of cloud computing as helped vendors offer cloud-hosted alternatives to on-premise solutions and make ERP more accessible to all business organizations, irrespective of its size. Service providers offer choice to business administrators to pick only those modules, which fulfills the potential organizational needs, that too, within their budget. Moreover, business organizations are adopting cloud ERP system 2020 for increased flexibility, cost-saving tools, and advanced innovation.
Artificial Intelligence is the game-changer in modern ERP software solutions. Offering innovative data processing, provides business organizations with an interactive platform to drive scalability and agility. Of all initial processes, transforming data and key information into actionable insights is substantially fruit-bearing. AI-driven software assists enterprises structure their data and analyze it in the best interest of the organization. Moreover, AI-integrated and innovative ERP solutions can assess historical data and couple it with other departments’ information efficiently. Also, ERP with AI it can suggest more effective methods of executing internal organizational processes.
ERP In Additive Manufacturing
Businesses are leveraging additive manufacturing to revamp their organizational operations and steer high productivity. The adoption of 3D printing or additive manufacturing called for the introduction of new ERP trends, particularly in the manufacturing industry. This ERP trend can help manufacturers to cut down operational costs and increase operational efficiency within the entire organization. Monitoring the number of materials produces, shipping, and delivery is enhanced with this power-packed capability.
Internet of Things (IoT), when combined with ERP, can unlock the door to full-fledged opportunities. It provides streamlined connectivity to every sensory, without being dependent on manual intervention. ERP systems can leverage this innovation as it has come up with a more customer-centric approach. With IoT integration, business organizations can gather, analyze, and process more information and get real-time visibility. In ERP IoT Integration, more automated operations reduce the risk of errors and fasten the process as well.
However, ERP trends in 2020 can show us a bigger picture of such innovation. More businesses are moving towards such integration, which will allow them to interface the network to completely optimized IoT’s capabilities. Manufacturing, logistics, and transformation industries can drive high operational efficiency with this innovative capability.
Nowadays, ERP systems are well-equipped with powerful data analytics features. The on-going demands of the business organization to prioritize data-driven decisions prompted the introduction of such a robust feature in the ERP software solution system. Integrated analytics, ad-hoc reporting, data visualization capabilities can offer real-time access to information and help businesses make more informed decisions for each business aspect.
Real-time Data Support
Business organizations seeking exponential expansion can draw the following benefits with advanced ERP trends:
- More precise insights
- Streamlined business operations
- Enhanced customer services
- Accurate and in-time information
Additionally, ERP delivers the congregation of multiple tools for seamless communication with all relevant data across all organizational departments.
Mobile-enabled ERP systems can offer users the on-the-go access to data and let business administrators execute all the operations from any location anytime. It provides streamlined, real-time capture, accurate data to assists in improving decision-making. Also, ERP 2020 trends has come up with on-the-go access, where businesses can communicate and operate from anywhere, minimizing the probability of production delays.
More Into Financial Operations
With the inception of advanced technology in ERP software solutions, business administrators can manage financial functionalities, including general ledger, currency management, cash management, payroll management, and fixed assets with high efficiency. In recent years, such financial applications have involved in both the internal and external processes of the business. Now, it keeps a record of every transaction and integrates them with other applications to speculate the impact of the investment.
Focus To Digital Marketing
Marketing may not be the first but an indispensable part of ERP systems. In such a case, analytics and key business insights help know how to run targeted campaigns and draw maximum benefits out of it. Intuitive tools help business organizations get the right data to determine the ideal audience and market the services to prospects. Enterprises can make the most of it by using CRM capabilities as a basis for marketing strategy.
ERP Trends in 2020 will offer more personalized and vertical solutions to business organizations to help them meet their specific business needs. Buyers will get to configure a specifically orchestrated solution without relying on dedicated IT teams. Undoubtedly, it will help business administrators manage expenses on maintenance and drop-down capital costs as well. In the upcoming years, these ERP systems will become more flexible, customer-centric, and accessible to most of the businesses, whether small or large.
On a conclusive note, business organizations must stay up-to-date with the trending ERP functionalities to deploy the most advanced version and optimize organizational benefits. Enterprises, irrespective of their organization size, must innovate with time and technology to witness exponential growth, high operational efficacy, and global recognition.
Stay tuned to ERP 2020 Updates and Take Your Business To Next-level Success!