Enterprise Resource Planning (ERP) empowers people to operate their business functions effectively & help them take timely and accurate business decisions. ERP is enormously important as it integrates data across materials, sales, distribution, production, finance, HR, projects for online and real-time visibility.
The second half of 2016 and beyond will be the defining era for ERP – the new-age ERP as one may term.
A large number of today’s workforce has turned mobile. The BYOD culture is here to stay – employees prefer if all types of office related information are readily available on their handset. Given this, ERP should be accessible on any smart device or operating platform, facilitating BYO D for customer.
Innovate or perish should be the mantra ERP solution providers should practice. Future businesses may require change in business process, compatibility with future regulations (taxation, fiscal policies) etc. ERP systems should be able to customize such changes. Multi-currency, multilingual, integrated email configurations are some of the most up-to-date features solution providers are investing in.
ERP should bring in high levels of trust and should constantly endeavor to provide high level of security to their customer’s information.
Organizations report countless advantages with the implementation of an ERP software system. Imagine the increased level of productivity ERP will create for businesses if collaborated with IoT? For instance, if shelves at the workplace that comprise significant employee information can identify key details and send it back to the ERP system, this will give businesses the leverage to concentrate on areas which leads to higher efficiency.
High-quality data allows businesses to use the power of intelligent analytics tools to arrive at better business decisions. A good EPR system should have built-in analytics functionality to allow easier data analytics.
Going forward, ERP should go beyond the smart phone screen to wearable devices. Hybrid cloud technologies will be further explored to unleash their full potential for users.