IoT (Internet of Things) propagates the idea of things (Devices) communicating with other things (Devices) through a channel of sensors, with a minimal role of any human element. The influx of such data into an ERP Software will be a game changer, resonating perfectly with the requisites of the inter-connected world. To strike coherence with IoT, future ERP Systems ought to be more open so that they can process and deliver useful information in as real-time a manner as possible.
One thing is for sure that the adaptability to IoT won’t come easy for enterprises and they will have to be proactive in their approach. A lot of homework needs to be done on their part in examining their current ERP models, so that they can integrate IoT with their day-to-day operations without overhauling those models.
IoT will augment the efficacy of both ERP and CRM (Customer Relationship Management), and will refine the processes of the Manufacturing Industry in particular. Taking an example of the Manufacturing Industry, a product having a sensor embedded into it will be easily tracked by manufacturers to improve upon their services pertaining to product assistance. They will receive timely notifications to address any potential damage to the product, thus adding quality and trust to their relationship with customers. Manufacturers will be able to dig deep into their understanding of a customer’s behaviour by analysing the usage pattern of a product. This will make CRM within a business a lot more advanced, achieving a lot more productive results. The IoT will give useful predictive data to ERP and ultimately to the organization to prevent any sort of part failure (either the parts sold or the parts of the machinery being used by the organization).
Having said that, there are potential impediments for the future trajectory of IoT, primary being the data security. While IoT will converge data from all corners and feed it into ERP Systems, there is a possibility of this data being breached by hackers. To keep IoT in the bracket of a promising and trustworthy technology, designs will be required to secure the enormous amount of data from various sources. Another area to ponder over, especially for the small to mid-size manufacturers is the high initial investment required to accommodate IoT. However as IoT propagates further, the investments are likely to come down over the next couple of years.
Advanced ERP Software like ebizframe have adapted smoothly to new technologies and concepts like Cloud and SMAC (Social, Mobility, Analytics and Cloud), and it wasn’t too much of a tussle to bring IoT under its wings either. The analytics option of ebizframe prudently analyses the influx of data to come up with refined information, so that enterprises can make data driven decisions more efficiently and quickly.
Enterprises must try to come out of their comfort zone, to strive towards innovation and strategic excellence. They must realize the potential of IoT merged with an ERP and devise better ways to extract as much as they can from this thriving technology.
About the Author:
Ashutosh has done his B.Tech in Electronics and Communication. He started his career with a Digital Marketing company. To refine his writing style and blend it with other niche markets, he joined ESS’ Marketing Communication Team to come up with savvy and engaging content for ESS’ flagship product: ebizframe ERP. Apart from his professional calling, he loves penning down his abstract reflections whenever the urge is overwhelming.