Trending ERP Technologies | Vital Insights
The world is changing rapidly and with it are changing the trends. To thrive in the world of business, it is necessary to keep yourself updated with the new trends and technologies. The success formula for any business is ‘shake hands with technology and increase your value.’ ERP (Enterprise Resource Planning) is one such technology that has made a drastic change in the way various businesses operate. Most of the businesses are now well-synced with this technology. No doubt, ERPs have been performing functions of reducing risks and improving cash flow excellently, but now it’s high time that companies enhance their ERP systems to grab more opportunities. In this blog, explore some of the trending ERP technologies that will turn out to be a game changer for your business.
Trending ERP Technologies to Revamp Your Business
1.) Internet of Things (IoT) Equipped ERPs
Just like the internet, the Internet of Things also has the potential to change the world. The biggest advantage of IoT is that as more and more devices are connected to the internet, the data can automatically be fueled in an ERP system.
IoT will give you a better chance to get an insight of supply chain, shipping partners and appliance performance. Your ERP system when integrated with AI can also enhance your overall decision making by providing more data.
In the near future, companies will not only use IoT technologies to automate or manage data but also for integrating various devices with less disruption.
Businesses need to be ready for the latest IoT technologies to not feel the FOMO and stay on top of this trend.
2.) AI-enabled ERP Systems
Now, it’s time for businesses to transform data into useful business insights. For this, businesses are investing more in AI (Artificial Intelligence), machine learning solutions and predictive analytics. The use of AI with ERP will increase organizational security, business policy automation, and data loss predictions. This is one of the most trending ERP technologies to revamp your business.
3.) Intelligent Automation
Till now, AI and analytics were being used to remove repetitive tasks. Now, in the year 2019, intelligent automation will help analyze a huge amount of data and spot those trends which were impossible to detect earlier. Intelligent automation will be a game changer for businesses.
Here are some of the benefits your organization will get:
- Minimized operational complexity
- Enhanced business decision-making
- Increased agility
- Improved problem solving and risk analysis
4.) Social Media and Digital Marketing
In the year 2019, ERP modules that focussed on sales need to become social media savvy. The reason is social media is now using a massive user base. So, if you ignore social media, you are indirectly ignoring your potential customers. ERP systems now need to include data gathering links and direct marketing across multiple social media channels to stay ahead in the competition.
5.) Blockchain Technology
In the near future, Blockchain technology has a major role to play in strengthening the ERP ecosystem. Soon, blockchain would be used with ERP systems to reduce shipping expenses, improve tracking, and anti-tampering services.
ERP can take you to unexplored levels of efficiency, however, you need to stay updated with the upcoming trends and technologies in the digital space. The opportunities for businesses are endless and now it’s time to creatively adapt these new trending ERP technologies and drive your customer value.