The New Year brings in various new, industry-wide changes. ERP solutions are no exception. 2017 will see many changes in erp software and their implementation. Here are a few of them:
ERP joins cloud
ERP solutions have seen changes since the time they were first introduced in the year 1990. In the mid-90s, ERP solutions started becoming more comprehensive than before. The changes seen thereafter were minimalistic. However, with the current trend of cloud computing, the ERP requirements and dynamics are changing again. For every additional requirement, companies are opting for point solutions which are cloud-based instead of making changes in their core ERP systems. In order to serve these changing dynamic, ERP vendors are offering specialized cloud products which can be integrated with their already installed ERP software. Some vendors are even building cloud-based ERP solutions.
Cloud trend might face problems
When new trends emerge, there are repercussions. The inclusion of cloud in ERP solutions can throw in challenges such as version control issues and problems of inconsistent data. Companies should take into consideration such problems that might lead to enterprise-wide confusion in case the problem blows out of proportion.
ERP should be intelligent
ERP solutions are no longer just considered software to handle information. Users are now looking at solutions that offer more guidance that the systems in the past. Newer ERP solutions are aimed to be made more efficient to manage data using machine learning and predictive analytics. Digital transformation is playing a major role in reshaping software applications.
Given all these new ERP trends, customers can expect ERP solutions to be more competitively priced as vendors are on the defensive. They are trying to protect their core product, which is causing this downward shift in prices.
Increased ERP security
Given the increased number of threats in the cyber world and evolving technologies, the need for better ERP security is higher than ever. The connected ERP platforms make them more vulnerable to breaches and attacks. Not only ERP solution security has become more critical but complex as well, to manage.
ERP with a competitive edge
The trend of cloud-based ERP solutions brings to the smaller ERP customers the benefit of bigger information resources. It will also help customers make use of the data that is at their disposal. Sophisticated analytics was originally an asset of the bigger corporations. But in 2017, cloud-based analytic capabilities will help small and medium enterprises do the same and reap benefits of the huge data pool available.