The world of enterprise resource planning (ERP) is constantly evolving. From business activities such as HR, accounting, and procurement, through to manufacturing, marketing, and ecommerce, many ERP solutions have developed their scope to cover most company functions.
For companies considering digital transformation, monitoring the ERP world and the software trends that evolve alongside it is a must. When you understand how the industry is shaping, you can more accurately evaluate what type of software will best fit your needs, right now and in the future.
In this article, we explore five ERP predicted trends for 2023 and beyond to help your business stay ahead of the competition.
1. Even more cloud-based ERP deployments
For many years now, ERP has slowly been making a transition away from on-premises solutions. That movement has accelerated over recent years, with many moving to the cloud.
At a time where ERP vendors are investing more in cloud technology than ever before, cloud-based solutions have become increasingly accessible for smaller businesses.
Cloud ERP solutions offer many benefits, including user-friendly apps and cross-platform capabilities. Smaller companies can even use cloud models to ramp up their IT investments, allowing for more advanced technologies down the road.
2. An increased focus on mobile-friendly ERP
This trend goes hand-in-hand with what’s been mentioned above - cloud-based ERP solutions. When you migrate your ERP functions to the cloud, you gain the ability to tap into business insights directly from your mobile device – and with 87% of businesses relying on their employees to use mobiles devices to access company apps, it just makes sense. A move to the mobile space just seems natural.
As well, companies need to meet the needs of a more mobile and remote workforce. By adopting a mobile-friendly ERP, your workers can be more proactive beyond the office or warehouse.
3. Growing demand for industry-specific solutions
Many well-known vendors offer industry-agnostic solutions that provide the core capabilities needed to support any type of organisation. However, many businesses require at least some degree of customisation for the platform to support their unique workflows.
Depending on the level of customisation needed, this can be a costly and time-consuming project, which has pushed several vendors down the industry-specific route.
For instance, the functionality an ERP system will provide for a manufacturing company will differ from an ecommerce business.
These specialised solutions often come at a higher price point, but depending on the functionality needed, can deliver cost-savings down the road.
4. Advanced ERP intelligence
As time has passed, ERP systems have become more advanced. Today, you’ll find platforms that incorporate such technologies as artificial intelligence (AI) and machine learning (ML).
Both AI and ML expand the data analytics capabilities of ERP solutions by transforming businesses data into actionable insights. They can also facilitate smart functions such as interactive assistants and zero-touch automation.
As AI software and ML strategies continue to improve, they will be able to take on an increasing number of routine activities that currently require human evaluation – and that’s why in 2023 and beyond, advanced ERP intelligence will be a huge factor for many companies.
5. Further attention on the Internet of Things (IOT)
With the increase in popularity of cloud ERP, more organisations have been able to take advantage of Internet of Things (IoT). Due to its array of benefits such as improved asset management, more accurate forecasting, and enhanced cross-department communications, IoT is something that will only become more integrated with ERP in the future.
ERP solutions with Nolan Business Solutions
Today’s ERP systems are progressing and changing the way we do business each year. With more advanced technologies continuously being added to ERP systems, it’s important to focus on ERP implementation to stay ahead of the curve.
If you are looking to implement NetSuite ERP or Microsoft Dynamics ERP, we can help. At Nolan Business Solutions, we specialise in system implementations and have the skills and experience to help your business thrive. If you’re interested in taking your software solutions to the next level, contact our team of experts today and learn more about how we can help.