Many organizations have adopted ERP software solutions for excellence in their business operations and boosting productivity. They provide useful insights to the businesses for making faster and smart decisions. Technological advancements are taking place almost every day and it is important for the companies to adopt these new trends to remain competitive and attain business growth. These new technologies and trends have a powerful impact on the future of ERP applications. ERP is a popular business management software that is believed to be influenced by the coming trends and future technologies. Therefore, ERP users should take potential benefits by adopting these trends.
Here are the top significant trends that are going to reform the future of ERP for sure :
1. IoT (Internet of things)
The Internet of Things has been already taking the world by storm. It is an ecosystem of connected physical objects that can communicate with each other and can be accessible via the internet. So, any device which is a part of IoT can communicate to the ERP system. Moreover, these IoT devices can deliver all the relevant data including location, performance and other information required for the ERP application without the need of humans.
2. Big Data Analytics
An ERP software records a massive amount of data and this information remains unused for the maximum benefits. With the increasing use cases, this data generation is ready to grow exponentially. ERP integrated with Big Data analytics tool can use this data to make accurate predictions, better business strategies and intelligent decisions. This way, big data analytics tools can reshape the future of ERP.
3. Wearable Technologies
The wearable technology market has become a hot topic of discussion among many marketers. Based on a report from Juniper Research, the wearable technology market is estimated to reach $68.7 million worth by 2019. For example, Augmented Reality glasses allows for hands-free operations that can be a gift to many blue collar workers. Even smart watches show a step forward compared to PDAs and smartphones because they are more easily accessible. Moreover, these watches have very fewer chances to be lost and dropped.
4. Cloud Technology
For the past 3 decades, legacy and on-premise ERP systems have dominated the global ERP market. The in-house ERP technology is not capable enough to take advantage of the latest trends and technologies because their platform does not support it.
In the world of internet and cloud technologies, we will definitely see a paradigm shift in ERP systems. Cloud ERP solutions are all set to take over in ERP world as they are faster and support future updates. In fact, Cloud ERPs are flexible and have capabilities to support the latest technologies.
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