ERP and the Cloud
As cloud computing continues to
proliferate in the mainstream, more sophisticated business transactions will
require the use of a cloud specific ERP. This is much different from
a traditional ERP that is placed in the cloud – the ERP systems of
the future will be created specifically to be a resident of the
cloud. This will be especially true of enterprise level organizations,
which are trying to become cloud natives.
ERP and Cryptocurrency
The mania of late 2017 is over,
and cryptocurrency is officially in the
mainstream. This means people will look to purchase mainstream goods and
services with cryptocurrency more than
ever. This should lead to a closer relationship between ERP systems and cryptocurrency through coin wallets. This
integration will be further driven by the desire of e-commerce
sites to accept crypto and participate more fully in this new economy.
Lower Implementation Costs/Higher
Systems Utilization
Although ERP software is used
increasingly in businesses at all scales, there are very few clients who use
systems to their full capacity. Clients who are looking for a competitive
advantage will likely put pressure on ERP vendors to reduce the costs of
implementation until they are taught how to increase utilization
percentages. In short, ERP systems will become less expensive to
implement and more streamlined to allow better implementation.
Better API Integration
The best systems in the world are
not necessarily the systems that come with the most included features.
Rather, companies stick with the systems that are future proofed through easy
API integration.
ERP and AI
Augmented intelligence
(AI) will be one of the biggest new implements to the ERP systems market.
Many new systems are being built on an AI engine foundation, which gives
clients the ability to enact intelligent and predictive solutions. AI allows
clients to spend less time dealing with operations with a cost and time bloat,
including internal audits, batch transactions and account closings.
AI will give companies the
ability to more immediately spot transactions that look irregular. AI also
gets rid of human error in accounts that have incorrect input values. AI bots
can also serve as chatbots that can be surprisingly conversational, allowing
users to automate tasks or find information very easily. Clients will no longer
have to sift through dusty hidden files to find data to back up a
gut feeling, allowing for a better decision-making process that will
be based around quantifiable results and precedent.
ERP and Organizational Change
The ERP software platforms that
will perform best in the future will be the ones that can provide long-term
support and new functionality to companies looking to upgrade in digital
transformation initiatives. There will be many companies that will look to
revamp their entire enterprise system strategy moving forward.
The ERPs that can manage
organizational change at scale without hiccups will become industry
standards. As stated before, these will not necessarily be the
systems with the most expansive internal toolsets, but the ones that can
connect companies to the widest variety of tools over time.
ERPs and Machine Learning
The one internal feature of an
ERP system that will ensure its continued use is possibly machine learning. A
system that becomes more familiar with a company’s landscape over time,
responds more quickly and correctly to queries, and even anticipates problems
before they occur, will become the norm.
No one can say exactly how ERP
systems will move forward in the future; however, the paths above are agreed
upon by many experts. We can definitely look to the ERP format to become far
more prevalent in companies of all sizes. Businesses that are looking to
compete and grow in the digital landscape will definitely require robust
systems that give a company the chance to combine many technologies. ERP
software is definitely on the cutting edge of these needs.
Author
Bio:
HAND
Enterprise Solutions (HAND) is a leading global software solutions provider
working to deliver your IT strategy, ERP solution implementations and global
technical support. We leverage our offshore and onshore teams from around the
world to provide our customers with the most competitive, convenient and
reliable experience.
In
Singapore & Asean Countries, HAND focuses on providing Smart Manufacturing,
Ecommerce O2O, Supply Chain Management & ERP solutions for various
industries. In addition, HAND leverages with IT industry partners using Go To Market
programs for our specialized products: EasiShare – Secured Document Share and
Helios – Expense Tracker Application.
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