Technology and human existence are made for each other. We use technology because it makes our lives easy and comfortable. One cannot think of living in a world without using and depending on technologies. Some technologies such as big data, AI and IoT are going to play a key role in shaping the future of enterprise software applications. In fact, these futuristic technologies are greatly impacting different parts of the business and internal processes over the years. In addition, ERP is a software that has experienced wide adoptions across small to large enterprises and these technologies can empower ERP applications in the future. ERP systems are scalable that is the reason, they have an immense user base.
Let’s see what are those technologies that will influence ERP applications in the coming time:
1. Big Data
The increasing amount of information can provide you with useful insights and predictive analytics when processed by modern big data tools. Businesses are now relying on big data to identify market trends and customer behaviors and for making informed business decisions. Predictive analytics enables companies to predict the future and see the possibility. Business intelligence is a popular tool used to analyze data in ERP applications. So, this is such a transforming technology when implemented in ERP, presents the analytics you need to enhance business productivity and make better strategic decisions.
2. Artificial intelligence
Out of all emerging technologies, AI will have the most powerful impact on ERP software applications. Who would want non-intelligent ERP systems? The real value of data lies in data interpretation and its analysis. ERP applications equipped with AI technology make the customer experience better. For example, chatbots used in mobile apps enhance the customer experience, self-driving cars, etc. AI-enabled ERP solutions help in enhancing internal processes to run a business more efficiently. They also provide security to ERP applications from cyber attacks.
3. Internet of Things
IoT is a technology that makes Internet-connected devices smarter. It is a union of millions of devices connected together to collect and share data. IoT plays a vital role in enhancing the ERP functionality. According to business experts, an ERP software solution must have flexibility and the ability to act in real time. IoT enabled ERP solutions to enable users to send and receive data via laptops, tablets, wearable devices, watches, cars etc. IoT devices gather data and share it with other devices.
For example, an IoT device equipped in the warehouse can detect the amount of inventory and send this information back to the ERP system. So, it will power the functionality of ERP warehouse management. In addition, By using these IoT devices your employees get the greater freedom to work while staying in remote locations.
4. Cloud solutions
Cloud ERP solutions are considered to be the future of ERPs. The adoption of cloud ERPs has increased drastically as the data size also keeps on increasing in ERP systems. Storing this huge amount of data in ERP is difficult. However, Cloud ERPs offer an infinite amount of storage and computing power. So, any company whether it is big or small can remain flexible to growing demands and only if it chooses cloud ERP software solutions. Web-based ERP also guarantees fewer expenses as it can be accessed through mobiles and laptop with the internet. You don’t need to spend on hardware and maintenance cost.