Latest ERP Trends in 2023
Currently, many businesses have resumed operations since the pandemic, and many have realized that market conditions are different from before. By considering various problems and challenges in the market as well as digital transformation, the use of an ERP system in companies will certainly help in facing bigger market problems and challenges.
Below is some information regarding estimated ERP trends for 2023 and beyond that can help your business stay competitive.
Cloud ERP
Many companies use on-premises ERP applications and don't want to trust them to the cloud, but that is changing quickly. Businesses leverage cloud ERP for simpler deployment, lower costs, elasticity, new functionality, fewer internal resource requirements, and the ability to add users and functions to easily meet business growth needs.
The pandemic made the value of cloud ERP even clearer and accelerated the shift away from on-premise software, because a cloud-based application can enable employees to do their work from anywhere provided they have an internet connection.
Two-Tier ERP
Two-Tier ERP is a strategy that allows a company to increase their level of investment in an existing ERP system at the corporate level (tier 1), while subsidiaries and other divisions run using a different ERP system (tier 2) which is usually cloud-based. Larger companies can continue to use their core ERP systems for finance and other processes. Meanwhile, subsidiaries are turning to solutions that can meet their specific needs.
Digital Transformation
Digital transformation refers to integrating digital technology into all functions to improve daily operations. This approach can usually increase revenue and competitiveness as well as employee productivity, as well as improve service and communication with customers.
Other Technologies Integrated with ERP
Although modern ERP is a major part of a company's digital transformation, it is only part of a larger technology investment. Companies are integrating their business applications with other emerging technologies, including IoT, to improve core processes. For example, a retailer uses a warehouse management system that collects data from a mobile scanner and smart conveyor to track the movement of goods within the warehouse. Some companies integrate ERP systems with e-commerce to improve the workflow of online orders, trigger automatic order fulfillment, update inventory levels, and record payments.
In the next year we will also see a greater connection between social media and ERP, by viewing the social media activity of customers and prospects in one place, companies can develop a more complete understanding of their audiences, allowing them to improve their digital marketing strategies and customer experience. By integrating data from social media interactions with sales history and customer communications, companies can gain more insight into the entire sales process and experiment with new ways to target and sell.
Personalization
Historically, ERP platforms with complex language scripts have been difficult to adapt to the specific needs of each business. But companies can now leverage cloud ERP platforms that have been designed for easier configuration, or what analysts call “low-code” platforms. There are also several ERP solutions tailored to the needs of specific industries.
As companies focus on providing a more personalized and relevant customer experience, they need an ERP system that can accommodate all these needs with features such as highly customizable dashboards. One emerging trend is the growing popularity of AI-based interfaces and conversational tools such as chatbots, which can interpret users' voice or text input and answer questions using customer and order information stored in the ERP.
AI-Powered Insights and Improvements
AI and machine learning capabilities embedded into ERP systems work behind the scenes to help meet the increasing demand for personalization and improve a wide range of business processes. While many companies were able to add AI functionality to some ERP systems in the past, more vendors now offer ERP software with such capabilities built-in.
AI dapat memberikan manfaat yang signifikan untuk bisnis, termasuk :
More insight
As companies collect more operational and customer data than ever before, they are leveraging AI to provide valuable business insights based on that information. AI technology scans large amounts of unstructured information, quickly identifying patterns and predicting trends that would be impossible to discover just by manually crunching the numbers.
Better process
AI helps automate and improve a wide variety of processes. For example, consider a manufacturer that implements a just-in-time inventory strategy, targeting shipping at the last possible moment in order to minimize inventory carrying costs. AI, in the form of machine learning, can improve supply delivery, and labor schedules to increase productivity and reduce costs.
Predictive Analytics
The need for AI-infused ERP highlights companies' increasing desire to dig deeper into operational data and customer data for new and relevant insights that will improve both the top-line (total revenue) and bottom-line (total profit).
While it has always been possible to analyze ERP data to uncover what happened in a business' past, the focus this year and beyond will be on using predictive analytics to uncover and address what may happen in the future. For example, software with machine learning capabilities can comb through a company's maintenance data about machine repairs to predict when a breakdown is likely to occur. Companies can optimize maintenance schedules so that they can repair or replace machine parts before damage occurs so as not to cause problems.
Mobile ERP
ERP providers have been offering support and mobile applications for some time. ERP solutions are evolving to provide on-the-go access to critical business data, enabling employees to perform back-end and front-end tasks wherever they are. Mobile ERP is also able to encourage collaboration between workers who are in different time zones.
Mobile ERP applications are created using a user-friendly interface that is able to help users to complete their tasks when they are not in front of the computer. Employees can complete tasks such as expense reports, call recording and time tracking, they can also monitor important workflows or approvals from their mobile phones. Mobile ERP also offers real-time data and insights and provides comprehensive benefits including always-on remote access, increased productivity, faster and more accurate data capture, and increased agility.