Enterprise resource planning or ERP software market continues to grow and change at high speed and shows no sign of slowing down.
Business leaders are changing their ERPs from siloed on-premise systems to cloud-based ERP solutions based on a digital core, offering real-time access to transactional data. For them, the cloud is creating a pathway to the digital transformation of data across the enterprise. It infuses intelligence and vibrant new business models to help increase productivity, generate better insights, plan superior strategies, enhance decision making, and induce cost savings.
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ERP in 2021 is going to include trends for innovation that would create a sustainable value for the modern system and the businesses adopting it.
5 New Trends For ERP in 2021
The rapid advancement of the technology is vital for ERP software to ensure organizations maintain continuity with the changing business pace and stay ahead in the market. The new ERP software trends fortify the software’s capabilities and open up new business opportunities throughout the organization.
In this article, we present some of the most noteworthy ERP trends of 2021. Some of these have already started gaining momentum for years, while others are in their early stages of inception.
1. Accelerated Cloud Adoption
There’s nothing new about moving to cloud-based ERP software. But it’s one of the game-changing trends that continue to prevail. In the past, ERP software was offered as on-premise solutions whose startup fees and hardware costs made the system too expensive for medium and smaller businesses. Moreover, ERP users had fears in placing their company’s data in cloud storage.
Now, as cloud computing technology has started to optimize, more vendors are entering the cloud-hosting market, making ERP solutions more accessible to small and midsize businesses (SMBs).
More organizations are opting for moving their business data on the cloud as they no longer have to worry about investing in expensive resources to maintain and keep their systems upgraded. Because of this success, SaaS solutions are going to dominate the ERP market.
2. Integration Of Artificial Intelligence
TArtificial Intelligence (AI) and machine learning (ML) is a relatively new concept in the ERP industry. When AI technology is integrated with an ERP system, it provides companies with innovative data processing capabilities and transforms business data into actionable insights.
Earlier, ERP users had to install separate AI add-ons to their systems for accessing the benefits of intelligence and automation. But now, ERP solutions having built-in functionalities are becoming increasingly common.
Being connected to the ERP systems, AI technology bridges business and functional silos. It uses intelligent analytics to help users make informed decisions, work faster, and avoid making many mistakes. This frees up employees’ productive time, which they can utilize for performing more valuable tasks.
Overall, AI technology, when combined with ERP, improves business efficiency, productivity, and bottom line.
3. Mobile ERP Application Development
We live in an era that believes in instant access to information. Likewise, today’s workforce also expects to access business data as and when they need it.
A mobile-ready ERP solution is able to meet this need. Complete mobile support is one of the most trending technology that a modern ERP solution needs to include. Besides providing on-the-go access to business data, these ERP applications also allow users to handle business processes anytime and anywhere through tablets and smartphones with internet connectivity.
Mobile ERP software improves communication across the departments and vendors/suppliers. This lessens the risk of operational delays and minimizes business losses. Companies who choose to implement this technology would have an edge in driving growth, increasing agility, and controlling costs.
4. Personalized ERP Features
Having a powerful ERP system is not enough on its own. It takes relevant features to instill exceptional operational efficiency and experience superior growth.
Earlier, the modular approach made ERP solutions suit the needs of smaller organizations. This trend took another step forward. Now, ERP solutions have personalized features to support particular business needs.
However, this doesn’t mean that each ERP application is created from scratch; instead, the systems are available in industry-ready templates that can be personalized according to the unique business requirements. Needless to say, a custom ERP solution would eliminate unnecessary features that add up to software implementation and maintenance expenses.
5. Powerful Analytics Added
ERP software has always been reliable support for collecting and organizing data. It has become a more powerful tool as unlike bygone technologies, the modern ERP software solutions are now natively equipped with powerful data analytics tools to help companies make data-driven decisions quickly.
Going forward, these ERP platforms are able to process both structured and unstructured data from various departments and therefore store every necessary information available to make the predictive analysis of future market trends.
Get Support From The Best ERP Solutions Provider
If you have reached this section, you already know what to look for in a future-ready ERP solution. And if your business isn’t already equipped with such software, we’re here to help you in implementing an ERP system that is perfectly equipped with advanced technologies for supporting your business in staying ahead of the competitors.