Adapting to technology has proven essential to businesses. This is why enterprises are now relying on ERP solutions. Like any other technology, ERP has been evolving over the years, let’s see what are the top ERP trends to look out for in 2020:
Two Tier Model
Two-tier ERP is used by organizations that have multiple sites or are based on multiple geographical level. Such systems are not only less complex to implement (in comparison to tier 1 ERP) but it is also economical. Companies adopting such systems get more control and flexibility to meet their needs.
Two ERP systems running hand in hand within a company is a two-tier model. The ERP handling corporate-level operation is Tier 1 ERP and the ERP which handling operation at a subsidiary level is Tier 2 ERP.
ERP for Small Enterprises
No business is too small for implementing an ERP solution. ERP is not just for large scale enterprises but it is also for small scale enterprises. With an ERP it turns easy for an organization to streamline its operations, making it convenient to make appropriate strategic decisions. Giving small businesses a competitive edge in the market.
Artificial Intelligence (AI)
2020 would witness a trend of AI integration with ERP. With AI (artificial intelligence) and ERP working hand in hand, appropriate decisions can be made, work speed doubles and mistakes can be avoided. Operations like managing finances, forecasting, advanced analytics would be a no problem zone to handle for a company. With so many capabilities, employee efficiency would increase, this would exponentially increase the growth of the company.
Cloud ERP is an ongoing trend. In 2019 all kinds of businesses adopted cloud systems. The year 2020 would experience the same trend. With a cloud system, companies can access data from anywhere across the globe. Cloud systems give companies better security in terms of data storage. Also, it is easy to maintain as the requirement to maintain an in-house server goes out of the picture, resulting in lower operating costs. Cloud ERP solution providers would offer even more options and features in the upcoming year.
Having a mobile ERP gives companies instant access to information. It is expected from companies to provide mobile software solutions that help them manage their business operations in a click. A mobile application gives companies a competitive edge. Making it easier for companies to get better visibility and work with required data without any hassle.
Organizations that adopt to cloud ERP would always be subject to upgrades. Instead of sticking on an old version or an outdated ERP system it is always best to upgrade your ERP. This keeps a company ahead in terms of managing their entire work processes. Say, ERP systems which are GST compliant makes it convenient for the finance department to manage. With GST methods changing every day it would be difficult for the company to work with an old version. Having an ERP system that upgrades their ERP system as per changing rules would always make it easy for organizations to manage.
Instead of dealing with a whole lot of data, having an ERP which gives real-time useful insights would make it easy for corporates to operate. Not only will the fetched conclusion be useful but also accurate to plan and make further decisions.