Keeping up with key trends in the industry while also operating and maintaining your current enterprise resource planning (ERP) system can feel a little overwhelming at times. But, luckily for you, we’ve outlined the top ERP trends you need to be aware of in the new year so your team can focus more on getting the job done.
Read on to learn more about the newest ERP trends, how each one can benefit your organization in the future, and how Surety’s senior-level consultants can help.
1) Migration to Cloud-Based ERP Solutions
Migrations to cloud-based enterprise resource planning (ERP) systems are becoming increasingly popular due to the flexibility, security and cost savings they can offer. With no additional hardware or onsite infrastructure required, businesses of all sizes have access to real-time data management at an affordable subscription rate – allowing them to scale up without worrying about costly investments in equipment or maintenance costs.
Cloud-based ERP systems also offer organizations a flexible and secure way to store, manage, and access their data in real time. With improved data management functionality, reduced needs for internal IT resources, and better opportunities to use only necessary resources at any given time, cloud ERP solutions have completely transformed the way companies operate and evolve to meet growing business needs.
And, while cloud-based solutions have become the “new normal” in the industry, modern ERP systems that offer a way to leverage the strengths of both on-premise and cloud-based ERP systems and compensate for potential drawbacks of each are available for companies not ready to commit fully to cloud solutions. With hybrid ERP solutions, companies are able to maintain their trust in data security with on-premise solutions, while also accelerating productivity and leveraging work from any location with cloud solutions.
2) Industry-Specific ERP Software
In today’s ever-evolving world, industry-specific ERP software is designed to meet the unique needs of a specific industry. For example, ERP solutions for the manufacturing sector help companies streamline production and increase the efficiency of their supply chain management processes; while solutions tailored for the healthcare industry can help hospitals track patient records and administer operations more efficiently.
And, with the increasing demand for enterprise resource planning systems, ERP vendors have recently begun offering industry-specific functionalities that fill the needs of organizations in any niche industry. Rather than taking a “one size fits all” approach to enterprise management, modern organizations are leveraging tailored solutions that eliminate the need for customization after implementation and reduce the time needed to implement throughout an organization.
3) Strategic Enterprise-Wide Approach
An enterprise-wide approach to enterprise resource planning can have significant benefits for businesses of all sizes. An ERP system is an integrated set of software applications that enable businesses to manage their operations and resources more efficiently.
By taking an approach that focuses on functionality throughout the entire enterprise, companies gain the ability to unify their processes and data across their organization, regardless of the amount of departments or areas of functionality the company has. This allows them to gain a better understanding of how each department works together and how the business is performing as a whole.
With a comprehensive view of operations and data, employees can work together more synchronously in order to maximize resources and streamline processes. This can not only result in increased productivity among employees in all areas of your organization, but it can also improve the accuracy and efficiency of key decision-making processes for your company’s stakeholders.
4) Mobile ERP Platforms
Mobile ERP platforms have become increasingly popular among businesses of all sizes in the past few years, as they offer a convenient and secure way to streamline data management and automate processes from anywhere. With the ability to access real-time information on the go, companies can view up-to-date data and trends across their entire organization, gain a better understanding of their operations, make quicker decisions, and improve decision-making accuracy.
Unlike traditional ERP solutions, mobile platforms offer ERP users a convenient and secure way to streamline data management, automate processes, and access real-time information from anywhere. With mobile ERP capabilities, companies can leverage valuable business data anytime, anywhere to provide valuable insight into how processes and resources are being used, enable them to improve functionality, increase efficiency, and enhance accessibility for employees and stakeholders.
And, with more companies making the switch from on-premise to cloud-based systems, companies are extending their ERP solution capabilities to mobile devices to meet the growing needs of their employees, their company, and the industry as a whole. Mobile ERP functionality allows users to extend their capabilities beyond traditional office settings, giving them better opportunities to make proactive decisions and build accurate forecasts.
5) Integration with IoT and AI Solutions
With the advent of Internet-of-Things (IoT) technology, businesses can now integrate their ERP systems in order to gain greater insights into their operations. By connecting their ERP systems with IoT, companies are able to access real-time data about all aspects of their business from anywhere at any time.
IoT integration transforms data collection processes, reduces overhead costs for complex ERP implementations, and improves the efficiency of ERP software deployment across the board.
And, in today’s increasingly digital world, integrating ERP systems with Artificial Intelligence (AI) technology is becoming an increasingly popular option as well. This type of integration helps companies improve their decision making accuracy by gaining immediate access to real-time data and leveraging enhanced data analysis capabilities.
AI-enabled ERP systems leverage machine learning functionality to not only automate tedious manual tasks to improve performance and reduce incompetence, but they also help reduce costs and improve overall business functions throughout your entire enterprise.
6) Personalized ERP Systems
In the past, ERP solutions were built with a “one size fits all” approach that required complex codes and scripting languages, but in today’s modern cloud ERP market, companies are able to leverage “low code” solutions to be tailored to their specific needs.
Personalized ERP systems allow companies to tailor their operations to the specific needs and requirements of their organization, regardless of the size or location of their company or their specific industry. Custom ERP solutions allow companies to take advantage of advanced features and functions that can significantly improve their efficiency and effectiveness.
With easy-to-use interfaces, customized employee dashboards, and the ability to customize business processes within their ERP system, companies are able to improve system efficiency and offer a more relevant and personalized customer experience.
7) Use of Predictive Analytics
With an increasing emphasis on AI-enabled ERP systems, the need to gather and analyze both organizational and customer-related data and produce more relevant insights is growing is ever-present in companies throughout many different industries. In turn, predictive analytics are revolutionizing the way businesses leverage their ERP systems, allowing them to better understand and anticipate customer needs.
By leveraging predictive analytics, organizations can use massive amounts of data to identify patterns and trends in their operations, enabling them to make more informed decisions in the long run. Predictive analytics can also be used to help companies forecast future trends and outcomes and make more informed decisions. And, with such predictive analytics, companies can use relevant data to anticipate customer needs before they arise, predict demand, and proactively plan for the future.
8) Improved Security for ERP Data
With the increased adoption of ERP systems (and especially cloud-based solutions), businesses must ensure that their data and processes are properly secured from external threats. As technology continues to evolve, so does the level of security that is necessary to protect these systems from malicious actors.
Here are a few ways security in the global ERP software market is changing to meet growing industry and company needs:
- Establishing secure access controls
- Implementing multi-factor authentication
- Utilizing data encryption technologies
- Monitoring network activity for suspicious behavior or activities
- Setting up firewalls to protect against cyber threats
In a world where enterprise resource planning highly favors remote and hybrid work, companies are increasing their enterprise security to keep both organizational and employee data safe and secure.
9) Two Tier ERP Systems
Two-tier ERP systems offer additional benefits, like improved functionality, increased efficiency, and enhanced collaboration across large enterprise organizations. Unlike traditional single-tier ERP systems, two-tier systems utilize a distributed architecture, which allows companies to leverage the advantages of both on-premise and cloud solutions.
On one hand, organizations can access the power and flexibility of cloud computing and data storage, while still maintaining control over their own infrastructure, hardware, and software. Two-tier systems enable organizations to leverage ERP resources at the corporate level, while also operating subsidiaries and other smaller business units on separate ERP solutions, connected within the cloud.
Additionally, two-tier ERP systems provide improved scalability and performance by streamlining data flows and improving interoperability between company headquarters and it’s subsidiaries.
10) Customer-Oriented ERP Solutions
Optimizing customer relationship management is an essential key to success for any organization, but especially those who rely on customer-facing processes and interactions to conduct business. With this, modern ERP systems are offering fully-featured solutions that not only help organizations gather more reliable customer insights, but also help optimize relationships with customers.
Customer-oriented ERP solutions allow businesses to more efficiently manage and utilize their data, processes, and resources. For example, modern ERP solutions give businesses the opportunity to create customized reports to analyze their operational performance in real-time, as well as generate insights into customer behavior.
Additionally, customer-oriented solutions offer tailored features and functions that can be customized to meet the specific requirements of a business. These solutions provide businesses with an enhanced level of control over their data and operations, enabling them to design processes that are tailored to the unique needs of their organization.
Partnering with Experts
Navigating complex ERP integrations, implementing new systems for the first time, or simply trying to keep up with ever-changing market trends is no small feat. That’s why having a team of ERP technology experts, like our consultants at Surety Systems, on your side is essential for your current and future success.
Our team of senior-level ERP consultants has the skills, experience, and expertise needed to help your company succeed from the start, regardless of your organization’s size, location, complexity, or industry. They specialize in virtually every enterprise resource planning solution, including SAP, Infor Lawson, Workday, UKG, JD Edwards, and more, and they are here to help you.
How Can We Help?
Whether you need help implementing a new ERP system, leveraging the top ERP trends to improve digital transformation efforts, selecting the right cloud ERP vendors for your needs, or anything else ERP-related, our consultants are here to help.