Enterprise Resource Planning
5 ERP Trends 2017
ERP (Enterprise Resource Planning) software is fast becoming an essential tool for organisational management. ERP allows organisations to track and manage information across all your various departments and business functions, covering accounting to CRM to supply chain management and beyond.
Here are the Top 5 ERP Trends that we recommend keeping an eye on.
1. The Internet of Things
In its simplest form, IoT is classed as any two devices with on/off switches which are connected to the in-ternet, and subsequently each other. According to many, it will soon be a part of almost every facet of our daily lives, be it personal or work related. So how will this affect business and industry? This all depends on your sector.
Manufacturing is arguably the furthest ahead in terms of IoT as it works seamlessly with the organisation of tools, people and machinery, as well as streamlining various processes and cutting operation times ten fold. The sky really is the limit with IoT, and in 2018 and beyond, we will no doubt see IoT devices and processes make their way into most businesses the same way the internet and smart phones have broadened our horizons after their introduction.
2. Hybrid ERP
A reality many mid-market ($20M to $500M) are facing in 2017, is outgrowing their existing ERP system. A bittersweet situation in many ways, but one that has resulted in the rise of Hybrid ERP, a combination of in-house ERP, augmented by cloud-based ERP applications.
Due to the cost and manpower needed to run all ERP in-house, we will, according to experts, continue to see companies move away from relying on a one-stop shop ERP suite, and replacing it with a Hybrid ERP solution which combines cloud point solutions with a small core selection of in-house functions such as manufacturings and financials.
3. Social Media
Combining social media usage with a Cloud ERP solution has continued to grow as a trend in 2017, with many deciding to keep communication with its employees and its customers open 24/7. Your employees, customers (current and prospective) are already social, so they are already collaborating and communi-cating internally.
Social ERP apps mirror the functionality and aesthetic of a social platform, which is already familiar to your network, only it is completely secure and maintained within your ERP solution. Connecting all facets of your business in a way which is much quicker and more streamlined than emails and phone calls will inevitably benefit any business, and this type of ERP solution will only continue to advance.
4. Small to Mid-Size Business
While ERP software was originally created with large enterprises in mind, we have now started to see manufacturers adapt products to cater to the everyday needs of the small to mid-size business. Furthermore, the aspect of automation and integra-tion that comes with ERP solutions can in many cases aid fledgling businesses in arguably their most difficult stage with issues such as trading standards and data compliance, which otherwise might seem daunting.
However, the most satisfying and heart warming aspect of ERP for small to mid-size businesses, is that it gives many the tools to compete with the big guys - everyone loves an underdog story after all.
5. Best of Breed
When faced with the irksome decision of choosing the right software for your business, the age-old question of Best of Breed vs ERP will often rear its ugly head. This will only worsen your headache, so being clear on how the 2 differ will aid you greatly.
Best of Breed refers to the best software of its class (accounting, communication etc). Companies will often find that no single ERP suite will cater to all of their needs, and will frequently opt for a cheaper, more specialised version for each sector of their day-to -day processes. For example, a company will use Sage for accounting and Salesforce for CRM. This trend will inevitably continue until such time that an ERP solution is created which is the best in every business sector.
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