ERP technology is consistently evolving since the time of its inception. New modules, features, extensions or functionalities are added as the requirements of businesses are expanding and they continued to grow. ERP’s relevance in the management of business enterprises can never be ignored. Automated processes and enhanced visibility of operations in organisations result in cost reductions which help them to achieve a competitive edge over players in the market. While a lot of the advancements have been already made in ERP software development, there’s also no stopping of it. There are many new aspects to uncover in this arena in the next years. Here’s a brief list of some of the highly anticipated changes to emerge in ERP technology in 2018.
#1 Cloud-based solutions are to prevail more
Cloud-based ERP will be a dominating transformation in the ERP field in the next year and onwards with most software development companies increasing their cloud offerings by manifold. While many effective cloud solutions provided by the top-rated vendors are already out in the market like Microsoft Dynamics 365, SAP S4HANA, Oracle Cloud, the scenario will change for small and medium vendors too. The coming year will hence witness great conflicts between the normal ERP software and cloud-based solutions. However, cloud-based ERP are sure to get wide acceptance everywhere.
#2 Legacy ERP software is going to fade away
As more and more ERP software providers are emerging in the market with innovative, customised and versatile solutions, organisations are shifting from their restricting legacy software systems to tailor-made solutions. ERP vendors are competent at developing solutions that perfectly cater to every particular requirement of businesses. They can add new functionality, modify existing modules or provide the solutions long-term support. Thus, legacy systems are going to deteriorate in the coming year with more of organisations migrating to modern ERP.
#3 Big data analytics will surface
One great positive trend to emerge in the next year is Big data which makes businesses capable of managing large datasets with higher accuracy or minimal chances of errors. Big data helps businesses to find real-time information of customer demands and market patterns. Now most companies have to rely on data analysts or operational teams to get reports on customer purchases and market trends. However, with Big data analytics, entrepreneurs can discover easily all the discrete changes in the market trends for uncovering new opportunities.
#4 Artificial intelligence will gain attention
ERP software applications will advance a lot in the coming days with the integration of Artificial Intelligence. AI is a smart technology or so-called “machine intelligence” evolved some time later which enable machines to take cognitive actions like problem-solving. As AI increased the scope of machines or software making them capable of pursuing tasks that require certain amount of intelligence, it will become a quintessential part of business functions too. It will help businesses to cut down operational expenses by involving in lower level routine functions like invoice generation.
2018 will definitely bring a lot of transitions in the ERP domain and these are just four predictions that are sure to happen. While it will be an exciting year for the ERP development, how organisations will respond to these changes is worth seeing.