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Top 5 Predictions for the ERP software industry in 2020

By Kris
Top 5 Predictions for the ERP software industry in 2020

Once, it was difficult to manage all the areas of a large scale business and the ERP system came into existence. ERP or Enterprise Resource Planning is a high-level technology that was considered for only large-scale businesses. The areas where ERP software works well are marketing, finance, supply chain, human resource, procurement and other parts of a business. It helps in streamlining the processes within an organization and also assist in making strategy based business decisions. However, keeping the benefits of implementing ERP software in a business, the ERP market is skyrocketing with the adoption of this system in small and large scale business. ERP applications are currently integrating the business process vendors are working to unite the collaboration of clients, suppliers, and employees that work together. Many ERP companies have started to concentrate on SME, they're providing tailor-made services and products vertically by lessening the cost and complexity of implementation. The technologies continue to change if they want to stay competitive, and businesses have to be able to adapt to new technologies. Because of an unavoidable advance in engineering, it could be hard to judge which direction industry resources that are specific are going. Fortunately, enterprise resource planning is comparatively easy to project and may be predicted with a few measures of clarity. Dennis Gabor once said, “We cannot predict the future, but we can invent it.”

Currently, ERP businesses are trying to expand their product's capacity that's the reason many are catering to SMEs or subject matter experts rather than large businesses. E-commerce and internet combined have played a role. Companies are attempting to combine their logistics management functions with the internet in order that suppliers may also have easy access to info from anyplace in the world. 

Here are the top 5 predictions for the ERP software industry in 2020:

1. User-Friendly ERP Systems or consumerization of ERP: Technological up-gradation is skyrocketing towards a new era, where gadgets, tools, and machines take a vital part. We are moving forward in an era where people more agile with the software run applications than any backdated methodology. In such a case, an ERP system that is user-friendly and easy to access will be ideal for a business. The kids of today’s generation are acquainted with the internet for completing their assignments. So, it is quite natural that they need some upgraded version and user-friendly ERP system rather than the age-old green – screen ones.
 
2. Mobility will play a vital role:  Smartphones has swiped away the basic versions of mobile phones. People and especially the new generation are more habituated with the smart applications of smartphones. They are addicted to the devices and want to perform every function by simple finger-touch. That clearly depicts, the coming years will be the age where a cell phone or rather smartphones will play the role of easy access to professional data remotely. Instead of the traditional desktop access, mobile devices and similar smart gadgets will do the enterprise data access. That means the mobile ERP software solutions will be more in demand than regular desktop ERP solutions. 
 
3. Business Intelligence will be in demand:  Business Intelligence is already gaining enough momentum to get accelerated in the coming years. Only collecting the transactional and calculated data via ERP software is not going to help in using those for the business. Enterprises will need more strong and intelligent techniques to make use of the information gathered through the collection of these data. That is why, in the year ahead from 2020, a robust ERP solution with business intelligence will be in primary demand that will, in turn, increase the profitability of your business. 

4. Social network integration: In the case of ERP systems, social network deems very important. Companies at which employees are not frequently face-to-face or familiar with one another could have trouble sharing info and being more collaborative, the way in which additional data ERP systems provide might require. The role of social media is quite large in such cases. From research and study, some insights can be given as an example of the role of social media in business. Consumers visit websites recommended by their friends, or have positive comments or have more viewers. Before buying a product or service consumers will look for more information in the social media sites and if found satisfactory review and information, they will opt for purchasing that. Also, the internal social connection of an enterprise can be boosted with the social platforms in the business. CRM is an integral part of the ERP system and a strategic plan can be created by tracking the customer bases using social communication tools. Thus social network integration with ERP software system is going to rule 2020.
    
5. Cloud-based ERP system: ERP software is software as a service that helps users to access ERP software via the internet. In the age of internet and online applications, accessing business-critical applications at any time and any location is easier. Maintenance of cloud-based ERP is also easier as no physical space and system are required. The type of software used is ideal for small and medium scale businesses, whereas, the general ERP system is used for the most large scale businesses. Thus ERP software is going to be the latest trends in the year 2020.

ERP system is the future of business irrespective of small and large ones. However, the above-mentioned trends will rule the future ERP system to increase profitability and enhance growth in a business. Closing thoughts: AIDOOS is offering platforms for all types of solutions to your business from professional subject matter experts. What you need to do is just post your business issue and pay when the task gets completed.