ERP solutions have been the focal point of the IT business processes. Over the years the solution has become more responsive and flexible matching the requirements of the organizations. ERP offers all possible features like collaboration, integration, and ease of use on different platforms via social, mobile, etc.
CIOs in leading IT companies are looking for the strategic alignment of the new ERP solutions than adopting the traditional ones. The innovative trends will help in increasing the productivity of an organization.
The top ERP trends which the senior management has to look out for in 2019 are:
1) Two-Tier Model: Two-tier model which is the combination of more than one software or vendor, will gain prominence in 2019. Businesses will start preparing the blueprint for the effective implementation of this model. It can be difficult in the initial stages of the process due to its complex integration, but its beneficial aspects of optimizing the back office process will be the driving factor for its success. The solution is mainly designed for growing businesses and assists them in having administrative controls at competitive rates.
2) Increased Adoption in SMB’s: More of small and mid-sized businesses will adapt to ERP as businesses becoming hugely calculative on their IT investments. ERP can provide end-to-end performance in one system.
A few years back it was mainly used in the large enterprises, but with the increased affordability the software is becoming popular in SMB’s as well. Many SMBs in South Florida are taking advantage of ERP systems due to its high functionality and the easy deployment process.
As per a Market Watch report, the ERP market will grow to $47 billion by 2022.
3) Agile ERP: Most of the chief information officers (CIOs) around the world will demand agile ERP than the waterfall model. This is because in the waterfall methodology the problem does not get noticed, or addressed until it becomes a major one. Agile ERP works better in a dynamic business environment.
4) Customer-Centric ERP: Most of the ERP’s are built to fulfill the requirements in the supply chain, warehouse management, accounts, and audits. A customer-centric approach has never been followed in the ERP solution. In 2019, one will be seeing major changes in this approach as the tech giants will follow a strategic approach in making it more customer-friendly. The approach will be more customer-centric than product-centric.
5) Security & Compliance: ERP has become a necessity for the majority of the businesses, and with that, there has been an increase in businesses prioritizing compliance and security. One has seen specific ERP’s like SAP Business One which is GST compliant and it continually upgrades the software.
2019 will be the year where security and compliance take the front seat with the integration of ERP in the business process.
6) Personalized ERP: 2019 will be the year of personalization. There will be increased personalization with the addition of artificial intelligence as well. The solution will become more flexible to support personalization and have more user interfaces. ERP and AI are like a body and brain. Both of them have to function together to provide a more personalized experience to the customer.
7) Focus on Functionality: As per a finding, 75% of the ERP customers will look for functionality rather pricing. Many of the ERP software in the market, lack the features required by customers. With the availability of many software in the market, customers will replace their old ERP with the new one if it is not providing the feature as per their needs.
8) Real-Time Insights: Most of the modern ERPs are changing. They now support real-time responses and enable systems to generate reports from the captured data. The transformed infrastructure successfully paves the way for traditional ERP to execute the process which can equip businesses with the insights for planning and forecasting.
Proper strategic planning with real-time insights generated from the ERP trends can help the businesses in long-run.
9) Augmented Human Capabilities: The advanced ERP solutions in 2019 will put forward unique intelligence capabilities enabling automation. The experience platform can work across different business operations. The BI and analytical features can be added to form an integral part of the systems. The advanced human capabilities with ERP will be helpful to increase the efficiency of an employee, thus directly impacting the performance of the organization.
10) Friendly User Interface (UI): As organizations start adopting more of the latest technology to get more real-time data, an increasing number of employees will begin interacting with the ERP system. Interfaces will evolve accordingly with a better UI and appealing design. This is necessary as most of the employees will be from the tapping generation than from the typing generation.
11) Block Chain & ERP: Most of the ERP systems will be incorporating the blockchain technologies. The process is not about cryptocurrency but the decentralized concepts involving financial data. This is bound to create a secure platform through which financial records can be easily shared.
12) BI & ERP: ERP systems will move forward by providing real-time insights for the product development, productivity, marketing, operational efficiencies of businesses. For example, a production manager in the manufacturing industry can monitor the floor’s scrap rate from the real-time data with this combination of BI and ERP.
13) Cloud-Based ERPs: In 2018 we saw an increase in the adoption of the cloud. The trend is going to increase in 2019 as cloud solutions are entirely managed by the providers which free the IT teams from strict maintenance efforts. As in-house servers are not required, there is also the lower up-front cost involved.
The ERP market has been at a growing phase and will continue to grow in the coming years as well. 2019 will witness new ERP trends getting introduced in the market which can disrupt the entire business and technical scenario in an organization. The high-level decision-makers have to watch out for the upcoming trends and see how it can affect the structure, output and business results of an organization. A keen eye on new trends can help in making important decisions helpful for the growth of the organization.