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What is the future of ERPs?

Since the 1990s, when ERP solutions were born, we have seen how they have evolved, adapting to the ever-changing needs of companies and to continuous technological innovations. Today, ERP solutions are commonplace in most companies, helping to optimise processes and increase business competitiveness, but what does the future hold for ERPs? How will this software evolve in the coming years?

It is clear that ERPs remains one of the best business solutions available, and that their use in the future is on an upward trend. As technology advances, it is logical that ERP software also advances, adapting and evolving with these new changes.

The trends that mark the evolution of this software are:

Massive shift towards the ERP in the cloud.

While it is true that the implementation of ERP software in the cloud has been around for some time, it is only recently that companies have started to use it. Until recently, most ERP applications were only offered as on-premise solutions that required you to invest in hardware and licences at a fairly high cost. With the rise of the cloud, more and more providers are offering a cloud-hosted ERP that is much more affordable, with no maintenance or system upgrades, and much better security.

Adaptation to e-commerce and omnichannel retail.

The rise of e-commerce has made integration with ERPs essential for companies, since it is a new sales source that must be managed within the ERP. In contrast to the multichannel concept, where each sales channel is an independent entity, the concept of omnichannel emerges, which allows us to link all sales channels in order to optimise resources, reduce time and cost and offer the best customer experience. This is where the role of the ERP comes in, which will focus on omni-channelling and keeping all parts of the business cohesive.

Predictive data analysis.

Although for some time now we have been able to use a Business Intelligence system in our ERP software that provides us with all the information on our company’s situation, the trend from now on will be the use of predictive analytics. Through the use of Artificial Intelligence, we will be able to perform this type of advanced analysis using new and historical data to predict future activity, behaviour and trends.

Artificial Intelligence, IoT, Machine Learning, Augmented Reality…

The integration of ERP with Artificial Intelligence technology will provide companies with a significant advantage in data processing, financial process automation, item identification, etc. With the integration of the internet of things (IoT), the possibilities are enormous. The IoT offers seamless connectivity to all sensors or physical devices in a network without the need for human intervention, helping us to obtain real-time data on machine performance and monitor the production process more closely. And if we add to all this the new growing technologies such as Augmented Reality or Machine Learning, then the automation of manufacturing processes, management, data collection and decision-making will become comprehensive, allowing greater optimisation of time and costs.

In short, ERP solutions continue to be vital for the future of companies and will increasingly help us to automate and optimise processes. The future of ERPs will be long and promises to be full of great things.

If you have not yet introduced ERP software in your company, Dynamics 365 partners will help you define which Dynamics software is right for your company and identify the right partner for you.

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