Few ERP Trends That May Impact Your Business Bottom Line
It is no wonder that the popularity of ERP application is increasing at a rapid rate. In fact, business of different sizes can take advantage of integrated ERP application for simplified as well as effective interactions with business clients, staffs, suppliers and so on. Let’s have a look at the current trends we are following regarding ERP application.
ERP Adoption of Small and Medium Sized Companies is Increasing
Earlier, companies spent million dollars for deployment of new technologies and they enjoyed technological benefits over small and medium sized companies. However the scenario has changed recently. Since ERP software for manufacturing, jewellery, retail or other industries turns out to be more modular and also more adaptable to the needs of small sized companies, large businesses are no longer hoarding of technological advantages. The services have become more affordable to cater to the increasing needs of small and midsized companies. Advanced tools become more accessible for them so that they can work smartly and effectively like never before.
Emergence of Manufacturing as a Service
It is assumed that the manufacturers offer subscription services for all their products. This cutting edge Manufacturing-as-a- Service model in fact allows the businesses to make use of factory as well as make payment for production time they actually need, instead of investing in capital for purchasing the entire facility.
Cloud ERP will be widely accepted
Currently, the buzz on cloud ERP has started to subside since most of the vendors as well as third party providers have actually offered affordable options for the businesses that are willing to migrate to cloud. The question, no longer, is whether cloud trend may continue; rather it is about which particular organizations would move to cloud and which ones would not.
Mobility Increasing
This year onwards organizations with distinct applications want to centralize them on one single application to diminish operation cost as well as centralize reporting by using one single vendor. For instance, HR applications and also purchasing claims are consolidated in a single vendor application as well as written down in similar source code to allow the IT departments decrease cost as well as enhance application optimization.
Effective Data Visualization
With increasing number of young professionals entering the manufacturing as well as retailing sector, it is assumed that they avail data intuitively just like the interface of social media. They do not wish to look data as stock codes but they want to have them just like postings or notifications as they get on popular social networking sites such as Facebook, Twitter and so on. In fact, combination of business intelligence and smart interface of social media help you to explore interactive depth in their Enterprise Resource Planning data. Sales personnel may monitor the targets and also the financial professionals can keep themselves updated with requisition approvals, expense approvals, bank balances through modest notifications.
Gather knowledge about the current ERP trends before you start using cutting edge ERP software solutions for your business need.
