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Enterprise resource planning (ERP) solutions have matured and expanded their reach to support more and more business/organization functions, from back-end processes like accounting software, HR software, procurement, and manufacturing to front-office functions such as sales force automation software, marketing automation, and e-commerce. Businesses that rely on ERP systems not only cut costs by eliminating redundant processes and automating tasks but also provide the employees access to thought information to make better decisions.
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As companies increasingly on ERP software to run their businesses, ERP software continues to evolve to incorporate the latest technologies and support a broader range of functions. In this article, we will cover eight trends to keep an eye on in 2021 and beyond.
Table of Contents
There are many businesses are used on-premises ERP software and were reluctant to entrust core business applications to the cloud, but that’s changing rapidly.
Historically, many companies are tried to deploy a single ERP software for the headquarters and all regional offices. But in practice, that approach was often costly and extremely challenging to implements all subsidiaries often had specialized requirements, did not need the full functionality of the corporate system, and struggled with the one size fits all approaches.
Digital transformation refers to integrating digital technologies into all business/organization functions to improve daily operations. This approach can often boost revenue and competitiveness while increasing employee productivities and improving customer service and communication skills.
Other Technology Integrated With ERP
The year will also see a greater connection between all social media and ERP Software. By seeing the social media activities of customers in one place, companies can develop a more complete understanding that allows them to enhance their digital marketing strategies and the customer experience. By integrating data from social media interactions with sales order history and communication skills with customers, companies can gain more insights into the entire sales process and experiment with new ways to target and sells.
ERP system platforms with complex scripting languages were difficult to update to the specialized needs of each and every business. There is also a growing range of ERP software tailored to the needs of specific industries.
AI-Powered Insights and Improvements
Artificial intelligence (AI) and machine learning (ML) capabilities embedded into ERP software work behind the scenes to help meet increased demand for the personalization of the broad range of business processes. While companies are could be added AI functionalities to some ERP systems in the past and more vendors now offer ERP software with these capabilities built-in.
While it is always been possible to analyze the ERP software data to reveal what happened in an organization's past, a focus in 2021-22 and beyond is using predictive analytics is likely to happen in the future. For example, software with machine learning capabilities can be combining through a maintenance company’s data about machine repairs to predict when breakdowns are likely to occur.
ERP Software providers have offered all mobile support for some time and also mobile applications are becoming the norm. ERP solutions are evolving to provide on-the-go access to critical organizational data and pieces of information, allowing employees to conduct both back-end and front-end tasks no matter where they are from the warehouse to a retail checkout terminal to an airport.