Among the changing winds of business technology, one needs an Enterprise Resource Planning tool as a chief constituent. For any business looking to attain operational efficiency and productivity, it becomes very important to know what the future trends are in ERP software. This listicle discusses some of the major trends on which any leading ERP software development company would be working. By the end of this article, you will see where ERP software is headed and what that means for your business.
1. Cloud-Based Solutions
Cloud-based ERP solutions are no longer a trend; they are the norm. A study by Gartner indicates that in 2025, 60 percent of large enterprises will have adopted cloud ERP systems. What the cloud offers also includes enormous flexibility, brilliant scalability, and low costs. The companies can access their ERP systems from anywhere in the world, which means continuity and telecommuting possibilities.
Tip: In case you are considering upgrading, an ERP software development company specialising in cloud-based solutions is the one to look out for to future-proof your business.
2. AI and Machine Learning Integration
AI and ML in ERP: Increasingly, AI and ML enforce ERP systems to predict trends, automate routine tasks, and gain a more profound insight into business practices. For example, by using the trends from historical data, AI can project inventory needs, reduce wastage, and optimise the supply chain.
Example: Oracle AI-enabled ERP cloud applications are already making waves with its predictive analytics and automatic workflows.
3. Improved User Experience:
The user experience is fast gaining attention from companies involved in the development of ERP software. The latest generation of ERP systems comes with intuitive interfaces that users can learn and use within a very short period. Next in line is an improved UX, which means increased adoption rates and productivity for users. Statistic: According to a Forrester report, businesses that raise the bar on UX design can cut their cost of customer acquisition by as much as 50% and raise customer retention by as high as 90%.
Tip: While choosing the right ERP solution, look for one that is user-friendly. It’s an investment in making your workforce more productive and satisfied.
4. Mobile Accessibility
Since most individuals these days work remotely and use mobile devices, the demand for access to an ERP system through smartphones and tablets has grown significantly. With mobile ERP solutions, employees could view real-time data and be in a position to perform core functions anywhere, at any time.
Example: Mobile ERP solutions from SAP enable field workers to perform inventory updates, check the status of orders, and even approve purchase orders—right from their mobile devices.
5. Advanced Data Analytics
Having the power to analyse piles of data in real time changes everything. Advanced data analytics capabilities in ERP systems enable businesses to make more informed decisions much faster. That includes everything from financial forecasting to customer behaviour analysis.
Statistic: Organisations that have taken up advanced data analytics, according to Deloitte, are twice as likely to be in the top quartile of financial performance for their respective industries.
Tip: Go for an ERP software development company that has advanced analytics tools built into their solutions, and you can make the most of data-driven decision-making.
6. IoT Integration
IoT is leaving its footprint on ERP systems. IoT can provide real-time data from various devices and sensors, giving valuable insight into manufacturing processes, supply chain logistics, and asset management.
Example: Microsoft Dynamics 365 has integrative IoT capabilities for the monitoring of equipment performance and predictive maintenance needs to reduce equipment downtime and operational costs.
7. Blockchain technology
Finally, blockchain can prove to be an addition that will improve ERP systems in terms of the security and transparency of transactions. It assists in product authenticity tracking, contract management, and compliance.
Stat: The spending on blockchain solutions globally is forecast to grow up to $19 billion by the year 2024, according to a report by IDC, with heavy return on investment expected to be obtained on ERP systems.
8. Customization and Flexibility
In other words, state-of-the-art enterprises require the implementation of ERP systems that can be tailored in line with their needs. The possibility of customization and flexibility will soon become a principal selling point of any reputable ERP software development company. Look for solutions that can easily be configured for unique requirements without extensive coding.
Tip: Ensure that the ERP provider offers modular solutions that scale with your business whereby there is easy integration of additional features as your business demands so.
Conclusion
The future of ERP software is shining bright with innovative possibilities. Cloud-based, AI-integrated, enhanced UX, mobile accessibility, advanced data analytics, IoT, blockchain technology, and customization options set the pace for the new generation of ERP systems. Collaboration with a leading ERP software development company can make sure that your business doesn’t overlook a step in this progress and makes full use of its power.
Ready to transform your business with the most resourceful ERP solutions? Explore our services and see how we can help you integrate the latest trends into your operations.
