Trends in ERP software
An enterprise resource planning (ERP) system is all about managing your organization’s resources in the most effective way possible. Organizations of all sizes – SMEs, expanding businesses, large companies– can all benefit from the implementation of a well-integrated ERP software. By integrating accounting and finance with sales, manufacturing, inventory and other functions, an ERP can significantly boost an organization’s productivity, efficiency and take its progress to the next level.
Alexis Leon, author of ERP Demystified writes:
“Having an ERP system is not a luxury but a necessity. It is a must for survival in this competitive world.”
An important goal of ERP is to facilitate uninterrupted flow of information so that business assessments and decisions can be more data driven. According to the Enterprise Resource Planning Software Buyer Report 2015, fifty nine percent of buyers cite the need to improve the integration of data between different business processes as one of the top reasons for seeking an ERP system.
Knowing and understanding the latest emerging trends in ERP helps organizations realize entrepreneurial practices needed for achieving desired results from ERP implementation. Some of the new and latest trends affecting the enterprise software are
- Mobile ERP – Long gone are the days when we could access our ERP system only from a single computer device. Devices like laptops, PDAs and tablets have made it possible to work on the road. However, ERP applications these days can also be easily accessed on mobile devices which facilitates greater mobility.
- Two-tier ERP – Many a time it may be possible that the use of an all-encompassing ERP system may not accommodate all requirements effectively. Therefore, organizations have turned towards the adoption of two-tiered ERP systems that use one platform as the primary system and a second software platform as a secondary system. This kind of setup eliminates the need for complex and costly integrations, and greatly reduces installation and maintenance efforts for IT.
- Cloud ERP – Cloud-based ERP solutions are simply offered to users over the Internet connection, usually accessed via a browser. Cloud-based ERP is hosted on the vendor’s servers and has been advancing steadily into the enterprise for some time. Statistics shows that of the 87 percent of small to medium sized businesses who have adopted cloud-based services, 43 percent wish that they had made the move sooner.
- Business Intelligence ERP – Organizations these days focus more on making better predictions by using ERP software with specialized business intelligence. BI enabled ERP applications enable organizations to provide dynamic reporting, providing end users with exactly what they want to see, when they want to see it.
- Need based ERP purchases – Many companies, especially small and mid-sized businesses, require only some functionalities that are on offer by a full-fledged ERP software. Also, larger organizations may want to use only certain functionalities of an ERP.
- ERP Customizations – One size rarely fits all. So to get the most out of their huge investments in ERP, most organizations have to resort to a certain degree of customization. Research shows that roughly 9 out of 10 organizations customize their ERP software to some degree.
- Consumerization effects – As newer generations of employees join the workforce, ERP applications have witnessed more consumerization to accommodate this new generation of employees who have been raised surrounded by social networking sites. Software vendors are focusing more on creating user-friendly and intuitive software solutions that more closely resemble consumer technologies.
- Integration architecture – With more focus on customization and increase of specialized ERP software, the focus is shifting towards providing better integration architecture so as to increase efficiency and competency levels.
At large, ERP trends demonstrate a steady growth in the market as investing in an ERP software can assist businesses in scaling new heights and unexplored levels of efficiency. Evaluate, assess and understand the business requirements of your organization and implement an ERP software to gain better insights into your business processes.