The popularity of ERP solutions can be gauged from the fact that in 2021, the market value was $95.37 billion. ERP is being increasingly used in organizations in different sectors. It is important to understand what the future holds good for ERP shared Bahaa Al Zubaidi.
Bahaa Al Zubaidi takes us to the future of ERP for us to understand the predictions.
As with other software, the cloud is the future even for ERP. Businesses no longer need to store the ERP application and data on their servers. Cloud ERP software make it convenient for even small businesses to use an ERP. It allows work to be done from anywhere and at any time. It helps businesses save money.
A key trend that would drive the future of ERP is personalization. Earlier, it was very tough to customize ERP to the specific needs of businesses. Cloud ERP has made it possible to create low-code platforms. Complex coding is not needed and hence personalization is easy. Customizable dashboards and customer-friendly user interfaces can now be used to personalize the ERP.
This strategy allows organizations to use an ERP in two stages or tiers. Tier-1 would be at the corporate or central level. The other branches or subsidiary units would use a different cloud-based ERP at the second tier. Both the ERP solutions would be able to exchange data. It allows subsidiaries to use a cloud-based system, which is convenient.
The ERP application suite would allow organizations to bring out a digital transformation by using digital technology in all areas of their operations. A study showed that 75% of business in the UK used cloud ERP to modernize and digitalize their business. This helps to make the business more competitive and increases productivity and efficiency. The result would be improved revenue.
Integrating other technologies
Going forward ERP software would integrated other technologies to aid the digital transformation process. IoT would be integrated with ERP to allow smart automation. There would also be integration with social media to manage customers better. They can use data from social media for better customer engagement.
ERP would integrate Artificial Intelligence capabilities to further enhance its effectiveness. The use of AI would offer many benefits. AI can scan the vast data the ERP collects and use it to identify patterns and predict trends. It can also help in better automation and improve processes like inventory management. Thank you for your interest in Bahaa Abdul Hussein blogs. Please visit www.bahaaalzubaidi.com for more articles.