Another year is upon us and now is a good time to take stock of the ERP trends that are expected throughout 2023. It is expected that the waves of digital transformation started by the pandemic will continue this year. The global supply chain is pressed by inflation, recession, continuing Covid policies and immigration, as well as rising demand. Disruption is a harsh reality and organisations must continue to adopt and adapt to maintain business continuity.
ERP systems are more important than ever in this landscape. With that in mind, here are some of the key ERP trends for 2023.
Industry-specific Trumps Enterprise-wide
The ERP market is swiftly learning that a one-size-fits-all approach is not working. All industries have their own challenges and priorities so ERPs are evolving to offer more industry-specific functionality. This reduces the need for costly customisations so implementation and deployment are streamlined.
Businesses and technology executives expect ERP solutions to deliver on the needs of their sector and vendors are starting to identify their speciality sectors. This approach seems to be replacing the system of introducing an ERP and progressively expanding it to meet the needs of the business. This is good news for smaller businesses operating in different sectors that may otherwise have been unable to afford the cost of customisation.
Greater Flexibility of Customisation Options
Where customisation is needed, ERP vendors are feeling the pressure to offer more operational differences. The modern organisation has distinct flavours and nuances. ERP systems need to have the flexibility to deliver different modules that meet the operations of a diverse range of businesses.
In the past, ERP solutions often demanded a substantial change to an organisation’s business flow to be implemented. With more flexible customisation options, solutions can be tailored so that operations can continue to operate largely the way they did before, albeit with streamlined processes and greater efficiency. Easy, versatile customisation reduces learning curves and promotes simple adoption.
Cloud-based ERP is not new, but it remains one of the most revolutionary trends. Cloud computing reinvented the way ERP works, with cloud-hosted operations driving greater efficiency in work practices. More organisations were able to leverage these platforms to save time, reduce cost of ownership and reinvent the way they operate.
Cloud applications are open, flexible and scalable and the ERP market is now dominated by SaaS solutions. Although on-premise solutions are still a great fit for some businesses and offer far greater customisation options, the general trend amongst businesses is a move to the cloud. Many on-premise solutions are now also being hosted in the cloud on cloud-computing platforms like Microsoft Azure.
Huge amounts of ERP data are being migrated to the cloud because of the obvious advantages. Consequently, the market size of cloud computing is set to grow by as much as 17.9% by 2028.
Mobile is a huge part of this as well. The surge in remote working is leading more organisations to implement mobile ERP, and it is becoming a necessary tool for many. With mobile ERP, you get greater system visibility and accessibility throughout the company. The result is faster business processes, greater productivity and savings on time, cost and resources. Mobile ERP apps provide an ‘on-the-go’ solution for things like CRM, warehousing, proof of delivery, point of sale (POS) and more.
Full Integration With Other Systems
The rise of cloud ERP adoption is forcing enhanced integration using standard APIs. When an ERP offers freedom to integrate with third-party applications, it becomes a far more appealing prospect. Customisable ERP solutions deliver the capability to integrate more niche third-party solutions via APIs. This means companies can easily add and remove features to make their ERP solutions their own.
Leading ERP providers assist companies in adopting next-generation technologies by integrating their products with them. It is becoming easier and easier to combine ERP solutions with third-party applications thanks to the availability of JSON and web services.
Monitoring of Supply Chain Compliance
Over the past few years there has been a huge shift in attitude as to where our goods come from, and the environmental and human impacts resulting from their production. Companies need to be aware of Environmental and Social Governance (ESG) as to not fall foul of emerging new laws designed to protect the environment and the people involved in the supply chain.
In 2023, companies with employees numbering over 3,000 who do business in Germany must monitor supply chains for environmental risks and specific human rights issues. Germany is only the latest European country to introduce such measures. This means there is greater monitoring and scrutiny of the supply chain.
ERP systems are introducing tools to gain greater visibility into the supply chain. They enable you to monitor and manage a number of variables including suppliers, audits, delayed shipments, market fluctuations and more. If you have the right ERP system in place, you can add all the supplier monitoring requirements you need. This will give you greater power over monitoring and managing your supply chain.
With the passage of time, ERP systems have become infinitely more advanced. Today, platforms exist that incorporate the most cutting-edge technologies including machine learning (ML) and artificial intelligence (AI). Both these resources greatly enhance an ERP solution’s data analytics capabilities. They transform business data into actionable insights and even facilitate smart functions like zero-touch automation and interactive assistants.
With the continuing advancement of AI software and ML strategies, their capabilities are constantly expanding. More and more routine activities can be taken over by computers to remove the need for human evaluation. Through 2023 and beyond, advancements in ERP intelligence will definitely be a major consideration for companies.
It is widely predicted that, in 2023, around 40% of Global 2000 companies will be using ERP systems as the main hubs for data and transactions in their industry-based ecosystems. With this in mind, access to transactions and data in real time is absolutely essential. This needs to be the case both on an operational level and a strategic one too.
On the operational level, users will need to see things like what is happening on the production floor in real time. Other things will include the origin of an issue with the supply chain or the amount of stock remaining on shelves. This will enable companies to make smarter, informed business decisions. This is absolutely essential in this age of supply chain disruption.
The ERP landscape is constantly evolving, and for bigger businesses this means taking swift advantage of the latest advances in this vast industry. With things like Machine Learning and Artificial Intelligence now a reality within ERP, the possibilities are endless.
The massive advances in ERP technology might be out of reach for many smaller businesses due in large part to affordability. This doesn’t however mean that small businesses can’t reap the benefit of basic ERP solutions. Many small businesses still conduct their operations across a range of disparate software applications and spreadsheets, so by simply adopting an ERP solution, however basic, they could reap massive rewards.
Why choose Eventura as your ERP implementation partner?
Eventura has been providing robust business solutions to countless organizations for over two decades. We are ERP experts and can identify all of your business needs, and deliver a comprehensive ERP solution that works for you.
As Sage 200 Partners and NetSuite Solution Providers, we can help you identify which solution will fit your business needs the best. Our expert team of business analysts, developers, consultants, technicians and support staff can guide you through your entire project, from initial scoping through to implementation and on-going support.
We’re also managed IT service providers meaning we can help you identify your entire IT infrastructure requirements from day one. If you would like to speak to one of our ERP experts to discuss your options or request a free demo, you can request a free call back here.