The technological giant ERP of yesteryear are going the way of the dinosaur, and the future looks promising with a growing number of enterprise system changes. Here are seven major developments that you might be interested in:
1. ERP decisions getting tougher with growing choices.
With growing developments in the ERP and technological advancements, specialized ERP systems comes into play. Companies find it difficult to choose the appropriate and relevant ERP software for the same. Other than integrating specialized products into their own business operations, some are building out their own cloud-based specialized solutions
2.Big Data is the new buzz
In the era of growing amount of information in society on an every, Business intelligence can be utilized to better understand customer trends and how to optimize inventory and margins.
Having powerful, cloud-based platforms allows companies to use predictive analytics for business operations at molecular level. For making real-time operational adjustments and better business analysis, ERP software comes as an effective platform.
By enhancing their core ERP systems and by adding cloud-based point solutions for services like human capital management, CRM [customer relationship management], expense management and other functions, companies are going the way of data enabled ERP solutions.
3.Intelligent ERP systems
In the era of increased concerns over security and smart management of works, ERP systems are going the intelligent way. Tighter security over IoT and shared data has been implemented by ERP. Intelligent ERP systems employs newer technologies such as artificial intelligence, machine learning and predictive analysis
4. ERP Adoption by small and midsize enterprises
ERP is no longer restricted and confined for large enterprises. With increased usability and previously mentioned cloud deployment options, small & medium companies are resorting to value enhancement through. With the advent of reduced costs to implement and deploy newer technologies, ERP is growing as a viable resource for companies of all sizes.
5.ERP and Social Media Integration
ERP vendors after observing the value and growth of social media have incorporated social media presence into their systems. ERP systems have been integrated with Sales, Customer Service and Marketing to gain insights about customers and to be in alignment with their needs, pains and requirements, allowing for purposeful marketing activities and increased brand loyalty.