ERP stands for Enterprise Resource Planning, a system used to manage the integrated activities of a business. ERPs are often used in manufacturing industries, but they can also be utilized in service industries, such as accounting firms as per Bahaa Al Zubaidi.
ERPs play an important role within any organization because they provide a single view of the entire business. This allows organizations to see how one part affects another easily. For instance, data like payroll expenses and output levels would reflect the effects of a decision to alter the policy on overtime compensation.
ERPs are commonly associated with large corporations because they are so time-intensive to implement and maintain. However, small businesses can benefit from this technology too by focusing on the features that will maximize their profits and eliminate those that don’t matter as much.
Trends
Bahaa Al Zubaidi based on his two decades experience with ERP lists out the following trends:
Mobile ERP
ERP systems have been around since the 1990s and were originally designed to manage manufacturing operations. In recent years, mobile ERP applications have emerged and are being adopted by organizations across industries.
These ERP solutions allow users to access their company data anywhere at any time. Users can now work from home, while traveling, or even on vacation. These solutions provide real-time data updates and help companies track inventory throughout the supply chain.
Cloud ERP Solutions
Cloud ERP solutions are becoming increasingly popular due to their low cost and ease of use. They offer flexible deployment options and are simple to scale up or down as business demands change. Many cloud ERP solutions offer mobile apps, social networking capabilities, and analytics.
Big Data Analytics
Big Data analytics are critical to modern businesses. Companies need to know where they stand regarding customer satisfaction, quality, efficiency, and profitability. Businesses can benefit greatly from using big data analytics to gain insights into their customers’ behavior and preferences. These tools can collect and analyze information to predict future trends and opportunities.
IoT (Internet of Things)
The Internet of Things refers to a network of physical objects or devices connected to the internet. Objects equipped with sensors or actuators can communicate with each other and enable interactions based on machine-to-machine communications. IoT technology has many uses, including smart homes, smart cities, smart grids, transportation, healthcare, and agriculture.
Digital Transformation
Digital transformation is using digital technologies to improve how people live and do business. Organizations are adopting these technologies to create innovative products and services that meet changing consumer expectations.
Customer Experience Management
Customer experience management (CEM) is the practice of delivering high-quality customer experiences across all touchpoints. CEM includes marketing, sales, service, and fulfillment. A well-managed CEM program helps reduce costs, increase revenue, and improve customer retention.
Artificial Intelligence (AI)
Artificial intelligence (AI) is a broad term that describes a range of technologies that give computers and machines the ability to perform tasks normally associated with human intelligence.
AI has become extremely prevalent in our lives today – especially in the workplace. Most people are familiar with some form of AI, whether voice recognition software, self-driving cars, or automated customer service. Thank you for your interest in Bahaa Abdul Hussein blogs. Please visit www.bahaaalzubaidi.com for more articles.