An Enterprise Resource Planning solution can surely be one of the greatest transformative investments made by a company. ERP solutions can substantially enhance an establishment’s competency and output, by unifying and synchronizing inventory, finance and accounting with sales, production, human resources, and other organizational functions, and eventually taking the establishment’s growth to the next level. Over the last few years, ERP software has turned out to be more and more dynamic and versatile.
Here we need to recognize some basic points from the point of view of the organizations; When does an establishment think about employing an ERP solution?
Generally, as soon as the organizations start feeling the pressure or burden of handling accounting or inventory with traditional bookkeeping, or Excel spreadsheets, or the QuickBooks system, they understand that they actually don’t have a control on the real scenario or daily operations within the organization in terms of financial management, inventory and stock management and other crucial things. At this stage, the management realizes that only an integrated system can unify all operations and can provide them with accurate reports, operational data, transparency, and more managerial information.
Currently, the ERP industry appears to be arriving to a point of inflection, where cloud-based software is posing a budding threat to the traditional on-premise systems.
- Cloud-based Systems:
The first major recent trend in ERP is that the rapid rise of cloud-based systems. There are certain facts in cloud-based system that receives major attention, What’s those?
Cloud computing is one of the prime technology used in today’s digital world. Cloud computing utilizes the Internet to offer shared computing resources and storing of documents or records. Cloud ERP helps a business’s various operational management, reporting and accounting to run in the cloud.
There are two methods of implementing a cloud-based ERP system.
- The Software-as-a-Service (SaaS) model: Basically, it comprises of retrieving a multi-tenant form of the software, i.e. sharing the similar version used by everyone else, and it is subscription based. But, although it is shared, the user data are all protected from other establishments and only the appropriate users can access them.
- The private-cloud model: This is where the organization owns the software and the software can be customized to fit different requirements, but somebody else is providing the hosting service for the software, making it a hybrid model.
- ERP With Designing Interfaces Resembling the Social Media:
This has turned out to be another popular trend where vendors are paying quite a lot on user interfaces so that the systems feel and appear more like the social media such as Twitter or Facebook. They are not only concentrating on the visual features, but also on the ways of communicating inside the system, by means of certain features.
- ERP with mobility:
Another trend which has started receiving lots of attention is making the system available through tablets and smartphones, thereby allowing mobility of the ERP solutions, so that it can be accessed from anywhere, anytime.
Tailoring ERP has become a mainstream practice nowadays. Since, no ERP solution can meet each necessity of any organization, thus, customizing them according to the organizational requirement has been hugely beneficial and has become a popular practice.
Enterprise Resource Planning (ERP) is no more a puffed-up concept. It’s a phenomenon now, and it will linger for long. Hence, knowing the evolving trends in ERP will offer the chance to recognize and comprehend what should be done to accomplish the looked-for outcomes from an ERP application.