13 Jan ERP Trends In The Upcoming Years
If you are wondering which ERP trends are going to be growing in the upcoming years, we have prepared an ultimate list. In this article, we’ll give a view onto the upcoming trends in the ERP industry, including the growing use of cloud-based systems, the utilisation of artificial intelligence (AI) and machine learning (ML), and the appearance of new functionalities in ERP connected to natural language processing (NLP) and robotics.
Businesses must keep current on the most recent developments to improve their systems since the ERP landscape is continuously evolving. The use of cloud-based ERP systems, which provide advantages including cost savings, enhanced flexibility, and scalability, is one trend that has gained pace recently.
Another evolving trend for the next years in the ERP industry is the use of artificial intelligence for better decision-making and machine learning for better data processing.
- Artificial intelligence (AI) and machine learning (ML) will help to make better decisions
Machine learning and artificial intelligence will be used more frequently in ERP systems to improve the effectiveness and accuracy of business operations.
Business analytics: By analysing previous data and learning from user behaviours, AI and ML systems can estimate future results in order to predict demand or foresee maintenance needs.
Business Processes Automation: AI and ML can automate some procedures and operations, giving employees more time to concentrate on higher-value tasks.
User Experience Personalisation: By analysing user behaviour while using the ERP system, AI and ML may help to customise the user experience to suit a person’s preferences and tastes.
Accuracy increase: By lowering the possibility of human mistakes, AI and ML can increase the accuracy of data entry, analysis, and forecasting. Personalised customer assistance and service are possible with AI-powered chatbots and virtual assistants, which enhances the customer experience.
- 5G networks will help to grant instant access to ERP systems from any mobile device and at any place.
One trend in the evolution of Enterprise Resource Planning (ERP) systems is the ability to access these systems via mobile devices from any place. Letting employees access and manage company data and processes from any location, makes it easier for companies to operate remotely or in a scattered way.
Additionally, mobile access provides quick and easy access to real-time data so that staff employees may make decisions while on the road. This can boost productivity and efficiency while reducing the need for face-to-face meetings and communication.
Moreover, mobile access may improve teamwork and communication among employees by providing a uniform platform for data exchange and task management. As a result, procedures could be simplified and there might be fewer opportunities for errors or misunderstandings.
- The Internet of Things (IoT) will help to connect the surrounding environment to an ERP system for constant data collection.
Physical items must be connected through a network of other things in order to collect and disseminate data.
Integrating IoT with ERP systems may benefit businesses by allowing for real-time data collection and analysis.
For example, a company will be able to monitor the efficiency and maintenance of its equipment, the number of items held in warehouses, properly track inventories, the conditions in which products are stored, and even minute changes in customer behaviour. Using this knowledge, processes may be improved, efficiency can be raised, and better judgments can be made.
The following are other advantages of incorporating IoT into ERP systems:
Better forecasting and planning: Companies can estimate demand more accurately with real-time data, improve production schedules, and simplify supply chain management.
Enhanced customer experience: By monitoring consumer behaviour, companies may better adjust their goods and services to satisfy consumer demands.
Enhanced productivity and efficiency: Businesses may free up their staff to concentrate on more value-adding activities by automating chores and procedures.
Cost savings: By streamlining procedures and boosting productivity, companies may reduce wasteful spending.
- Virtual (VR) and augmented reality (AR) will help to create data visualisation tools and simulate enhanced virtual environments.
The usage of augmented and virtual reality (AR and VR) technologies is one trend in ERP deployment. Due to the dynamic and immersive data and process visualisation offered by this technology, businesses are better able to comprehend and optimise their operations.
Employees may observe how many processes interact and how modifications might affect the entire system by simulating data or processes inside a corporation using AR and VR. Because it enables people to observe the full system in operation rather than just reading about it in a handbook or watching a video, this may be extremely helpful for training and onboarding new staff, getting additional information about products with the help of VR glasses or phone/tablet, find the location of items within the warehouse, and make on-the-spot decisions based on additional data achieved from the augmented reality.
Businesses may test out new procedures and modifications before putting them into operation thanks to the adoption of ERP with AR and VR. Businesses may foresee potential issues and deal with them before they materialise, potentially saving time and resources.
In general, the use of AR and VR in ERP implementation may help organisations streamline their operations and boost productivity by allowing them to view and interact with their data in a more engaging and immersive way.
Data analysis and visualisation are two other possible uses. Employees can view and interact with data more intuitively and immersively using AR and VR, making it simpler for them to spot trends and patterns. For instance, a sales manager might examine sales data in 3D and pinpoint regions where sales are underperforming or present growth prospects.
Other applications for AR and VR include staff communication and project management. Using VR headsets, teams may collaborate on projects and have virtual meetings, enhancing communication and reducing the need for in-person meetings.
Overall, incorporating AR and VR into ERP systems has the potential to improve decision-making, boost employee productivity, and streamline business operations. Read more here.
- The blockchain technology used together with ERP systems will be granting enhanced security, better traceability and transparency of business operations
Enterprise resource planning (ERP) systems can employ blockchain technology to increase the effectiveness and transparency of company processes.
Blockchain technology may provide several advantages when used in or together with ERP systems, such as:
Heightened security: It is more difficult for hackers to alter or update data when transactions are recorded on a decentralised ledger utilising blockchain technology. By doing so, fraud and data breaches may be reduced.
Better product and action traceability: With blockchain technology used together with ERP functionality, users can easily track transactions or product history from start to finish. This can assist companies in real-time tracking of the flow of products, commodities, and financial activities.
Enhanced efficiency: Many corporate operations can be automated and streamlined using blockchain technology, which reduces the need for manual involvement and does away with the necessity for middlemen. Increased effectiveness and cost savings may result from this.
Enhanced business transparency: Blockchain makes it possible to create an unchangeable, open, and transparent record of transactions. This can increase the general openness of corporate operations and help organisations establish confidence with clients, partners, and suppliers, as well as track the actions of employees in projects or with customers within minutes.
- The importance of cybersecurity technologies and processes will increase along with the number of cyberattacks, therefore ERP systems will pay close attention to cybersecurity.
ERP (Enterprise Resource Planning) systems are essential for every business’s seamless functioning since they manage and simplify several activities, including those involving finance, human resources, inventory, and supply chain. However, these systems are also a target for hackers because of the enormous quantity of private information they contain.
To safeguard the ERP system and stop data breaches, it is crucial to implement effective cybersecurity measures. Some actions that can be taken are as follows:
Passwords that are strong and unique must be updated often for all users to prevent unwanted access to the ERP system.
Two-factor authentication: The system may be made more secure by asking users to give an additional authentication factor, such as a code delivered to their phone.
Data encryption can assist in preventing data from being intercepted and accessed by unauthorised parties while being transported between users and the ERP system.
Patches and updates regularly: Keeping the ERP system patched with the most recent security upgrades can help prevent known vulnerabilities.
Access restrictions: Setting up stringent access restrictions, such as role-based access, can assist stop unauthorised individuals from accessing sensitive data.
Facial recognition: As biometric technology develops, it is anticipated that an increasing number of businesses will use face recognition to protect their ERP systems. With the use of this technology, people may be uniquely identified based on their facial features, and access to particular regions or data inside the ERP system can be granted or restricted.
Similar to facial recognition, voice recognition technology identifies people by using the distinctive features of their voices. This technology may be used to govern certain system functionalities or to authenticate users when they enter the ERP system.
Handprint recognition: A person’s hand’s distinctive patterns and features are used by handprint recognition technology to identify them. Traditional password authentication can be used in conjunction with this technique or instead of it.
- Drones connected to the ERP systems will help to reduce monotonous standardised tasks for employees and improve data collection.
Enterprise resource planning (ERP) systems and autonomous drones may work together in several ways to improve and streamline corporate processes. Here are some instances of how drones may integrate with an ERP system:
Inventory management: Inventory levels in warehouses and distribution centres may be scanned and tracked by drones, providing real-time stock data to the ERP system. This can aid in replenishing and forecasting, as well as lower the possibility of overstocking or running out of inventory.
Drones may examine goods or assets for flaws or damage using cameras or other sensors, transferring the information to the ERP system for analysis. This can save waste and increase the accuracy of quality control procedures.
Updating data to the ERP system for tracking and analysis, drones may be used to examine and repair assets like pipelines and wind farms. This can save downtime and increase maintenance efficiency.
Delivery: Small items or commodities may be delivered to clients using drones, and the ERP system can track the whereabouts and progress of each delivery. This can speed up deliveries and lower expenses.
- Robots integrated with ERP systems will help in automating corporate procedures and boost output, precision, and speed across a range of business processes.
One example of robotics integrating with ERP is the employment of robots in warehouse operations. These robots may be programmed to do tasks including selecting and packing orders, loading and unloading trucks, and sorting and organising items, among others. In order to track orders in real-time and immediately alter inventory levels, the ERP system may be connected to robots.
The application of robotics in manufacturing processes is another illustration. Work like part assembly, welding, and painting may be done by robots. To monitor production rates, anticipate maintenance requirements, and enhance production schedules, the robots may be linked with the ERP system.
The application of robots to warehouse management is one instance of this integration. Robots can swiftly and precisely sort and choose products for orders using machine learning algorithms, eliminating the need for manual labour. To guarantee that inventory levels are appropriately recorded in real-time, they can also connect with the ERP system.
Additionally, ERP systems and robots may communicate with staff members and consumers via NLP. To comprehend and reply to consumer enquiries, for instance, a customer care robot can employ NLP. This enables companies to offer greater help without the need for extra people.
Overall, the productivity and precision of many business operations may be considerably increased by integrating robots and ERP systems. Read more here.
ERP Trends In The Upcoming Years: ERP systems assist companies in managing and integrating their many activities, including accounting, inventory control, and human resources. To increase production and efficiency, ERP systems have started integrating a variety of technologies, including artificial intelligence (AI), machine learning, natural language processing (NLP), drones, robots, augmented reality (AR), and virtual reality (VR).
ERP systems can evaluate data and generate predictions or suggestions based on that analysis thanks to AI and machine learning. An ERP system with AI capabilities, for instance, would be able to forecast demand for a certain product based on historical sales data and recent market trends.