Top ERP Trends in 2023
As technology continues to evolve at a rapid pace, so too do the business applications your team relies on day-to-day. In this blog, discuss the top ERP trends to watch out for in 2023.
As businesses embrace a "do more with less" mentality in the wake of increasing operating costs and heightened competition, many are searching for new ways to streamline operations and turn data into actionable insight. With these challenges, come new technology trends, with some of the key trends in ERP technology listed below.
With the uptake of cloud-based business solutions on the rise, it is no surprise that ERP solutions are being deployed in the cloud more often. This is something that has been gradually on the rise over the past few years and will be continued into 2023. Cloud ERP makes ERP more accessible to smaller businesses, reducing the initial investment required with monthly subscription-based models. Cloud ERP also offers more benefits beyond cost savings such as remote access, cross-platform abilities, enhanced security and much more.
More Industry Specific Solutions
All industries have unique operational processes and having a solution that is tailored to meet these needs can be invaluable. Not only making things easier for end-users but saving money on costly or time-consuming customisations down the line. For example, those in the e-commerce space will have different requirements than those in supply chain management or hospitality. While it is often the case that no solution has everything required for a complex company working with a partner familiar with your industry can help ensure you get the right customisations or add-ons from the beginning.
More Emphasis on Advanced ERP Intelligence & Reporting
ERP solutions are becoming more advanced. Many technology solutions today are incorporating AI, ML and advanced analytics. ERP is no exception. This type of technology can help users extract the value in their data with integrations like Power BI delivering comprehensive data visualisations and real-time reporting. AI and ML can help take these data a step further by delivering actionable insights based on this data. Further, they can also facilitate smart automation saving time as well as smart virtual assistants.
Rise of Mobile ERP
In a world of hybrid and remote working, many employees need to be able to access business applications on the go from their mobile or tablet devices. It is no surprise that mobile ERP is expected to be on the rise in the coming year. This relates to the earlier point about cloud-based ERP solutions, these cloud solutions facilitate employees to have remote and secure access to business applications such as ERP. Therefore, a mobile-friendly solution makes sense, helping boost productivity while saving time and resources for the business.
If you would like to learn more about how to take advantage of ERP software, get in touch today to speak with one of our specialists.