31 May Predictions for the ERP Software Industry
It’s not news that ERP features for manufacturing SMEs help companies solve their operational issues, both large and small, on whole new levels. Integrating an ERP system into your manufacturing operations can be an indispensable strategy for reducing costs, optimizing production processes, and significantly increasing the odds that your company will continue to grow and evolve longer term. The majority of businesses nowadays are finally prioritizing “going digital” and all it entails. The fact is, ERP systems must continue evolving in order to fulfill businesses’ ever-changing needs.
With the introduction of AI and Machine Learning, enterprise mobility solutions are becoming increasingly more active. From increased utilization of the cloud to quantum computing, the next ten years are exciting for the ERP system.
Future predictions are not easy to make, still, every year the prediction is made for each technology and ERP industry is no behind. There are a lot of factors that help in shaping the ERP solutions globally. ERP predictions are made based on the past data collected over the last several years. These are the predictions that have been made so far:
1. Increased popularization of ERP systems
As fresh, new generations of employees continue to enter the workforce, the popularization and therefore consumerization of ERP systems will likely rise to meet their demand for systems that aren’t run on obsolete technologies. Similarly, ERP vendors that still develop and support outdated user interfaces will face increased pressure to create user-friendly, intuitive features. This means prioritizing ERP features for manufacturing SMEs that resemble consumer technologies more closely.
2. Increasing focus on business intelligence and data
This trend is already gaining much momentum, but the business intelligence movement will continue to accelerate in coming years. After years of capturing reams of transactional and strategic data throughout their enterprises via their ERP software, organizations will continue to pivot their focus to how to make sense of this data and turn it into a strategic advantage. And simple reporting won’t hack it – enterprises will demand more robust and intelligent ways to make use of this information. ERP vendors such as Sage, Acumatica and others are already investing heavily in their business intelligence capabilities, so look for this trend to continue well into the future.
If you’re in manufacturing, you know better than anyone that highly efficient production and turnaround times are a necessity. It’s hard to predict how your business processes will look in the coming years. ERP for transportation manufacturing or any other manufacturing industry needs to facilitate a reliable stream of top-tier parts. But amid constantly changing product configuration, suppliers, partners, and of course, customers, flexibility is a necessary asset. Worthwhile ERP allows users to create new product categories, support new business processes, and send auto-notifications when a product is ready for shipping. The faster your sales team gains information, the faster your customers do.
4. Improved User experience
People are looking out for more ways to make the ERP system more intuitive and user-friendly. Not only that, every system will be optimized more properly that will help in displaying the content appropriately. ERP technology will be almost everywhere you could ever imagine such as in the manufacturing of glasses, smart watches etc.
Based on the trends we’re seeing with our global client base and through our research on ERP best practices, these seem like the most relevant longer-term predictions for the industry.