The Enterprise Resource Planning (ERP) Industry has thrived and evolved rapidly over the past several years. The ERP Industry rides on several crests and troughs owing to new innovations, advancements and continuously evolving requirements of a business. 2017 saw plenty of changes with cloud implementations accounting for a major chunk of all ERP implementations worldwide. 2018 is expected to witness even more fluctuations in the ERP Industry with mobility and customization being the major differentiators in the vendor offerings.
Let’s explore Top Trends in ERP 2018:
Trend # 1: A decisive year for cloud ERP: Cloud based ERP is available as a sort of Software-as-a-Service (SaaS). It has become quite popular in the recent years owing to its short implementation cycle and less upfront investment. Despite Gartner predicting that 90% of all cloud ERP implementation will eventually fail; organizations have shown a great affinity for the Cloud ERP model owing to its relatively faster implementation and low upfront investment. 2018 may prove to be a decisive year for Cloud ERP Implementation.
Trend # 2: Configurability to overtake Customization: With more and more enterprises demanding quicker implementations and stricter customization of ERP software to their needs, vendors are making their ERP software more and more configurable so that the most standard ERP System can be configured for a variety of organizations. Configuration not only saves time but also helps customers save on high customization costs which are usually a contentious issue for the implementing partner as well as the user enterprise.
Trend # 3: Mobility: The need to access everything at the tip of our fingers is rising. The new trends in ERP indicate that the top management wants to be updated on their key business areas and need such critical data at their fingertips. Portable technology will prove to be a game changer in increasing integration among different processes in the organization resulting in an even faster flow of information and quicker decision making. ERP vendors are making both ends meet by bringing more and more functionalities and processes to mobile apps thereby minimizing the dependence on laptops/computers to access ERP software.
Trend # 4: Exponential Growth of ERP in SME Segment: ERP is no longer restricted to large businesses; small and mid-size businesses are realizing the need for integrating their systems. The availability of cloud and on-premise ERP Software gives the users the liberty to choose ERP system according to their business needs and budget.
Trend # 5: Internet of Things (IoT): Internet of Things (IoT) is on the verge of becoming the next big thing in the technological arena. IoT could make ERP much agiler and flexible. IoT brings with it tons of data that can be effectively utilized by an ERP Software. Human intervention could be greatly minimized as the use of Internet-connected sensors and devices could send immediate warnings and alerts to business’ ERP. For this very reason, the prospect of ERP is especially attractive for manufacturing companies.
Trend # 6: ERP as SaaS: Software-as-a-Service (SaaS) Enterprise Resource Planning is gaining much hype these days. The users get the software as a service for a particular purpose and time period. In return, the customers pay for the service and get the complete functionality of the software. SaaS ERP should not be confused with cloud ERP. Cloud ERP is, in fact, a combination of Infrastructure-as-a-Service and Software-as-a-Service.
Trend # 7: Auto Pilot for Management: Gone are the days that required you to sit in your office to take care of your business needs. The emerging technology makes sure that you are not bound by the limitations of a mere desktop to complete important tasks at hand. The emergence of the concept of SMAC ERP ensures proliferation as well as the integration of data in a way that gives you a competitive advantage.
We can safely say that 2018 will usher in exciting and path-breaking developments in the Enterprise Resource Planning Industry landscape and these will eventually shape the Future of ERP in 2018 the times to come. No matter whether you are a small business or a mid-size company, staying abreast with the latest technological advancements emerging in the Top trends in ERP 2018 can help take your business to unprecedented heights.