The Future of ERP
As organizations increasingly rely on ERP systems to run their business, these systems continue to evolve to incorporate modern technologies and support a broader range of functions.
Here are some ERP trends on the rise this year:
- Cloud ERP: Offers simpler deployment, lower costs, scalability, elasticity, new functionality, and less need for internal IT resources.
- Two-tier ERP: This strategy helps a business leverage their investment in existing ERP systems at the corporate level (tier 1), while subsidiaries/divisions operate using a different ERP solution (tier 2), which is often cloud-based. Large companies typically use their core ERP system for normal business practices such as finance and other processes. Smaller business may need a more custom solution to address their specialized needs. Gartner believes large organizations should “assess whether a two-tier ERP strategy would offer more business benefit than a single-tier one, especially by modernizing small, potentially fast-growing business units.”
- Digital transformation: Cloud ERP could be considered the heart of a digital transformation. IoT devices, artificial intelligence, data analytics, and many more modern solutions integrate with this to build a strong technology foundation for your business.
- Artificial intelligence: AI and machine learning capabilities embedded into ERP systems vs having to add this functionality.
- Predictive analytics: The need to analyze data for future use and decisions in putting quite the demand on ERP systems to be equipped with the ability for predictive analytics. Looking ahead and planning, can allow a business to make good decisions now.
- Mobile ERP: This is not a new concept. However, it is going to continue to evolve and become increasingly more user friendly. This will include new user interfaces and increased access to tasks on mobile devices.
Many of these ERP trends are not new. However, as organizations continue to adopt cloud ERP, more and more of these ERP trends will evolve and begin to transform into something unlike anything we have seen in those applications to date.
2W Tech is an Epicor Platinum Elite partner and have been working with Epicor solutions for over 30 years. Epicor has embraced the future of the ERP, as we saw a new user interface and many of these features rolled out in the last software release, and they have another one expected soon that I imagine will evolve on more of these future trends. If you are interested to hear what is new with Epicor and what we can expect coming up, give our team a call!