Enterprise resource planning (ERP) solutions are quickly developing to meet the needs and demands of stakeholders and end users. Rapid evolution brings new opportunities and risks, options and complexity.
This is why organisations must understand their industry and market to take advantage of the trends. This gives them a heads up to accurately plan business strategies to help maintain a competitive advantage.
Here are the first five trends for 2023 in our ERP trends series.
1. Focus on remote and portable capabilities.
This huge shift to staff working remotely means they need access to company information at anytime from anywhere. And increasingly they are using mobile devices to access the information they so ERP features are now available on tablets or mobile devices.
This allows organisations and their end users to transactions live, for example Stock, Orders, Procurement, in real time while monitoring and managing Demand.
This also reduces paperwork and ensures transactions are completed LIVE, enabling the next link in the supply chain to continue its operation. Seamless.
2. Move from Hybrid to Cloud
Many systems have made use of hybrid cloud for a long time. Now ERP providers are pushing into 100% cloud. For example, our core platform offering: Microsoft Dynamics 365 Business Central (ERP), is a pure cloud offering with full and tight integration into your Microsoft Power Platform and Azure environment, delivered serverless.
This, instead of businesses running networks on-premises with unintegrated systems, cloud saves significant amounts of capital and allows reinvestment into process automation and autonomy.
Other benefits of cloud ERP solution includes advanced security, cross platform capabilities, user friendly apps and easy access to upgrades.
Years ago small businesses couldn’t get access to an ERP without significant capital. Now ERP is now more accessible to smaller companies than ever before which gives them better access to compete in this connected world.
3. Intelligence and Insight
Using a cloud ERP introduces a higher level intelligent business which is self-aware and adapting to client demand, minimising lead time and maximising communication to your customers. Further ERP solutions are improving all the time. They now give businesses access to machine learning (ML) and artificial intelligence (AI) which can helps to extract data they can transform into actionable insights. This improves forecasting and cuts out unnecessary costs by eliminating human error. ML and AI also allows businesses to use smart functions like zero-touch automation and interactive assistants.
For example, Microsoft Dynamics 365 Business Central integrates to Azure Synapse out of the box, Microsoft’s Artificial Intelligence which delivers insights to your operational performance. As AI and ML features keeping improving, they will soon be capable of taking on more of the routine, repetitive functions currently done by staff members.
4. IoT (Internet of Things) is integrating.
ERP Solutions are integrating with the Internet of Things (IoT). This allows devices to connect with each other for the centralised collection of data from different channels to deliver customers personalised experiences. IoT also allows organisations to better manage their business intelligence. It offers benefits such as more accurate business forecasting, asset management and better communications across different departments.
IoT integration with ERP solutions will continue to improve and potentially give businesses the ability to connect with other systems sometime in the future.
5. Solutions designed to your Industry
One-size-fits all is gong out of fashion. While ERP software provides customisability to meet different industry requirements, more and more there is a demand for an industry-specific solution. Having industry-specific functionalities and features means organisations spend less time and money customising ERP solutions. And this means faster implementation.
For example, the functionality a system needs for an ecommerce business is different than what a manufacturing company requires. You may require jobs and field services instead of advanced inventory.
Enabling your business to grow efficiently and effectively – we’re the Rightsize for you.
Small businesses struggle to budget their IT operations and often spend inefficiently with less than a great return on their investment. Rightsize 365 understand. We are a leading Microsoft Dynamics 365 Partner in Australia that services customers globally. Talk to our team about your business and how Microsoft has a solution for your industry today.