For organizations looking to make an impact in 2020, implementing an ERP system is probably the best way to embark on the digital transformation journey. Since modern ERP systems have the capability to unify and modernize an enterprise’s day-to-day operations, they can help improve business agility, enable organization-wide integration and collaboration and drive better profits.
Irrespective of whether you already have an enterprise-wide ERP in place or are in the process of implementing one, staying abreast with the latest trends can help you leverage the system to its full potential and drive maximum value from your ERP investment. Here are 7 of the top unfolding trends of ERP in 2020 that you need to adapt to really make a difference:
As cloud adoption gets more and more widespread, in 2020, the cloud-based ERP market will further continue to grow. With cloud ERP solutions entirely managed by experienced vendors, organizations can free IT teams from maintenance efforts and focus on tasks that are more value-driven.
Cloud ERPs will allow organizations to keep pace with the growing demands of their businesses while paving way for better user experiences, enhanced functionality, and reduced operational costs.
With AI quickly being embraced across industries, its integration with modern ERP solutions will put forward unique intelligence and automation capabilities. In 2020, AI capabilities in ERP will enable organizations to automate day-to-day tasks, make better use of data and aid in far better decision-making.
From digital assistants to anomaly detection, around-the-clock monitoring to the reduction in human error – AI integration will allow everyday business users to boost operational efficiency as well as customer experience.
In 2020, advanced built-in BI capabilities will make ERP systems smarter and enable real-time insights across every aspect of business operation, including product development, marketing, finance, HR, and more.
In the coming year, business users will stand to benefit greatly from BI in the form of predictive and actionable insights that support faster and better decision-making – through better sales forecasting, customer needs assessment, predictive maintenance, and so on.
Unlike earlier, while mobility was a nice-to-have ERP feature, in 2020, mobile capabilities will become increasingly sophisticated. Modern mobile capabilities will enable users to perform business operations anytime and anywhere – enhancing overall productivity and efficiency. With access to all the information and tools they need to do their jobs, users will be able to gather and key-in important information straight from the field – thus improving operational efficiency and improving time-to-value.
As more and more companies embrace the realm of IoT, its integration with the ERP ecosystem can open the doors to new streams of revenue. With IoT and ERP, organizations will be able to gather, analyze, and process a vast amount of information regarding machine performance while being able to more closely monitor the production process.
In 2020, the business world can expect big moves from manufacturing, logistics, and transport companies that have started integrating IoT devices into their operations.
As business users demand the same level of technical capabilities from enterprise systems as they expect from their personal devices, the coming year will also see personalized ERPs become increasingly popular.
From easy plug-and-play module integrations to enhanced UI/UX – in 2020, the popularity of one-size-fits-all ERP solutions will continue to decline, paving the way for custom-made and bespoke solutions that perfectly fit the needs of individual businesses.
2020 will also witness a steady growth of ERPs that are easy to deploy – without users having to rely on dedicated IT teams to solve minor issues. ERPs in the coming year will be more user-centric, flexible, and accessible; the tools they provide will be easy to operate – not just by programmers or IT specialists but by every user in the organization.
Over the years, the business world has seen ERP systems evolve to adapt to constantly changing business needs, customer demands, and technology innovations. Today, ERPs are much more than just enterprise systems; they are indispensable components of digital transformation that provide organizations with crucial, actionable insights to completely change the way they operate and function.
With the ERP market expected to reach $78.40 billion by 2026, the scale and pace of the enterprise software is unprecedented. 2020 will witness new ERP trends getting introduced in the market and will disrupt the entire business and technical scenario in an organization. Decision-makers in every organization must watch out for these trends.
Want to embrace these ERP trends for business results? Contact a Synoptek expert today.