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. High level of security.
Data security is challenging when systems producing a lot of data connect with other systems. There is a high risk of data breaches and increases the threat of cyberattacks. And with more staff working remotely, this has increased security threats.
With the recent data breaches in Australia, organisations are working harder than ever to secure their systems. By using an ERP solutions like Microsoft Dynamics 365 Business Central, on the cloud, your data has end-to-end monitoring which means you have a complete view of any vulnerabilities that may have remained hidden. The system can recognise patterns in real time and warn your team of potential or actual breaches. This means you can take action quickly to contain or prevent them.
Solutions which underpin ERP security such as Microsoft Defender for Business enable you to protect your M365 portfolio of products and solutions centrally.
2. Implement two-tier ERP for multi-branch
It is so difficult for businesses to keep up with how fast cloud infrastructure, the Internet of Things and big data is evolving. This is where
it is useful for organisations to implement two-tier ERP enabling branches to operate independently of the group meanwhile consolidating.
This is usually an enterprise level business solution where the corporate level tier uses its tier one ERP solution which drives key
reporting outcomes, while its branches and subsidiaries have a separate ERP solution (tier 2) which operates the branch and allows for consolidation up to the corporate group. In this case, one is a central area for data analytics and the other focuses more on specific business processes.
For example, Microsoft Dynamics 365 Business Central production environment is limited to 300 companies. Some customer have chosen to have multiple production environments for splitting risk, or working with cross-border ownership in multiple regions.
3. Social Media Integration
These days if your business is not on social media you miss opportunities to connect with your target audience. While there has not been a high demand for linking ERP software with social media, it is an emerging trend to watch in 2023.
Social media plays a crucial role in connecting businesses with customers and boosting customer satisfaction. By integrating ERP software with your social media accounts you can provide better customer service, improve productivity and collaboration within and outside your organisation.
Solutions like Dynamics 365 Marketing enables you to extend your ERP solution into your marketing strategy, driving engagement and
automated flows based on customer behaviour and incorporating other D365 solutions such as Customer Service.
Despite business owners believing that social media is just a distraction, integrating ERP software with social media channels, gives valuable insight into customers every interaction with their services or products.
4. More eCommerce Integrations.
ERP integration with ecommerce is trending in 2023. It improves the workflow for managing an online store. This means it is easy to coordinate orders, inventory, invoicing and shipping across the store. It enhances productivity, minimises any errors from doing data entry manually which saves a lot of time and gets customer orders out to them faster.
With Dynamics we use the Dynamics 365 Business Central Shopify connector to achieve many integrations for customers enabling rapid deploy and management of single touch workflows.
5. Seemless integration in your application landscape
The next trend to watch out for is the integration using standard APIs to plug together your application landscape. Our customers who are innovating are active with programs around API integrations and centralisation of key master data. What this means is that organisations can use their ERP solution for core processes and a different solution for specific requirements such as PIM (Product Information Management), CAD, eCommerce, Merchant facilities, or many other solutions.
An example is an ecommerce store using one system for distribution, another for customer relationship management, and an independent solution to source suppliers which will provide customers a seamless experience all driven back to your ERP.
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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.