Derived initially to represent the planning of materials requirements and manufacturing resources, ERP has evolved into something more. Today, systems for enterprise resource planning are multi-modular platforms incorporating sales, procurement, customer service, accounting, human resources, and much more. ERP unites all core business processes and company departments under one roof. Today, with lots of new technologies arising, ERP infrastructures keep evolving. In this article, we will list the upcoming trends that can transform enterprise resource planning in 2020.
Entering a new year of opportunities, you are probably looking for ways to improve your business processes. Below are the dominant technology trends that can help you change the way your ERP works.
AI-fueled solutions for ERP bring many capabilities for industry-specific companies. First off, artificial intelligence can improve data analytics by providing real-time data and generating data-driven insights. For example, ERP in banking can provide valuable reports on customer behaviour so that marketing teams deliver highly personalized offerings of their products and services.
AI can forecast the future market demand suggesting some production plans. The predictions made with AI tools are more accurate, which reduces the risk of overproduction or underproduction. In production, AI solutions can analyze the processes and provide recommendations on how to improve them or reduce operational costs.
In customer service and sales, chatbots are used to improve customer service by providing instant responses to client questions. HR managers leverage AI in recruitment to quickly and accurately screen piles of CVs to find the required skills and competencies to close the vacancy.
Internet Of Things
Operate efficiently, reduce manual workload, decrease the number of errors – that’s only a few benefits offered by IoT. Connected devices and platforms help track and plan inventory more accurately using special sensors.
IoT solutions are used to control and improve product quality. For example, some companies use sensors on tires to ensure that the latter ones have a maximum lifespan. The manufacturers of refrigerators use sensors to count the times when doors opened. They use this data to produce sturdier hinges.
The advancements made with the help of IoT solutions in ERP systems lead to the improvement of delivery time. The Internet of Things provides continuous real-time data insights that add value to the company’s analytics. Ultimately, many processes can be automated, which results in reducing operational costs.
Choosing the right ERP solution is crucial for any company. The fear of storing corporate data in the cloud is one of the significant barriers to adopt cloud computing for ERP. One of the key considerations in these questions is to manage the system on-site or deploy it to the cloud. The latter solution allows for ongoing software updates. With cloud ERP, your vendor will take the responsibility of hardware, security, and data protection. Cloud solutions require little-to-know IT involvement.
In the cloud, ERP is accessible in real-time to every person using a browser. This improves collaboration. The deployment of cloud-based ERP systems is easy and quick, which accelerates your time-to-market.
Today, the cloud is treated as a gateway to digital transformation. Applying cloud computing to your ERP development strategy could help build a completely different business model and reach your major goals.
Personalized User Experience
Delivering better UX is at the core of ERP transformation in 2020. Most ERP systems are legacy and difficult to use. In the next year, it is recommended to invest in designing and developing intuitive and consumer-facing interfaces. Consumers are expecting to see chatbots, solutions powered by human-machine interaction and automation. These things can simplify the workload, deliver responses faster, and automate workflows.
With personalized UX, you can streamline and simplify the ERP processes as well as increase employees’ productivity. Simpler interfaces allow users to create and customize their dashboards and reports, enter data, and share information faster.
Before choosing what trend to follow, stop and think about what your ERP users really need. The system should address the needs of people who use it. Think about what problems you can solve by implementing a chatbot or changing the entire interface. Or you need some new functionalities to maintain your business processes more effectively? If you can’t determine all the bottlenecks that your ERP has, consult with experts on digital transformation. They will help you with value chain mapping and building a new ERP strategy to meet your goals.