ERP software in our day and age
ERP software (short for Enterprise Resource Planning) has become a staple of businesses today. It helps you run a business more efficiently with the help of automation, leaving you and your employees with enough time to focus on more value-adding work. Like any other technology, ERP has grown and changed over the years. This kind of system was initially created for the manufacturing industry, to help keep track of things like inventory. Today, however, any company in any industry can benefit from the use of an ERP system. That being said, let’s take a look at some of the latest trends in ERP software.
In light of the recent pandemic, a lot of people have shifted their systems to the cloud in order to support a remote workforce. ERP was a little slower to get there because companies were reluctant to trust the cloud with their core applications and systems. Now, however, there is a trend of businesses investing in cloud-based ERP systems.
This kind of cloud structure works best for small and medium-sized businesses since they do not have to invest in maintaining large and complex systems that they might not have the resources for. Instead, they can hire only one or two employees to manage the technological side of their ERP system. Another benefit of cloud-based ERP is the flexibility that it affords. Businesses (especially small ones) can scale their resources dynamically based on the need of the hour. Since they only have to pay for the storage space that they use, this also helps to cut costs.
Since organisations from vastly different industries now use ERP software services, there is no one-size-fits-all when it comes to ERP. In the past, the complex code used to build ERP platforms was a barrier to customisation. However, there now exist several “low-code” platforms that virtually any company can take advantage of. The existence of both these “low-code” platforms and open-source ones has led to lower ERP software prices. ERP systems are becoming not only more customisable but also more accessible.
Since businesses these days do their best to personalise their customers’ experiences, they need a system that can accommodate their own changing needs. A customisable dashboard is a common attribute of ERP systems today, giving employees easy access to the features that are essential for their responsibilities. Customisable ERP systems do not give you control over every single facet of their software; instead, they make it easy for you to change what you need without having to modify the entire structure of the system.
Two-tier ERP, as the name suggests, consists of two parts – one for the headquarters or parent company, and one for the regional offices or subsidiaries. This split system exists because businesses found that it was very challenging to implement a single ERP system for all offices. This is mostly because regional offices and subsidiaries do not need all the functionality that headquarters do.
As a company grows and expands, it will naturally create divisions. Each of these divisions could have completely different processes and frameworks based on their role in the organisation. Two-tier ERP can be thought of as a form of personalisation, that allows companies to customise their ERP software according to the needs of whoever is using it. For example, the corporate part of the system – or tier 1 – is usually highly customised and has the ability to run an entire organisation. On the other hand, tier 2 of the system is usually simpler and does not consume as many resources as tier 1.
Digital transformation refers to the ways in which you can change – or transform – your business processes using technology and digital tools. These tools typically allow you to streamline your business processes. For example, routine tasks can be automated so that the people in your organisation have the bandwidth to engage in value-adding tasks.
As the market becomes more competitive, it is increasingly important for businesses to move towards digital transformation in order to stay afloat. Many companies are choosing to start their transformation with ERP software – especially with cloud ERP. In addition to automating processes, engaging in digital transformation can give you data-driven insights to make better and more informed business decisions. These days, most ERP software has in-built analytics and reporting tools that can help you reach your digital transformation goals.
AI (Artificial Intelligence)
AI and machine learning capabilities have been steadily improving over the years. Including these technologies in ERP systems is no longer a novel idea. Most ERP software these days makes use of AI in one form or another – to quickly scan through large amounts of data, to optimise schedules, or even to make predictions about business performance in the future.
Apart from planning and logistics, AI now also plays a large role in engaging with customers. A good example of this is the increased use of chatbots. An AI chatbot integrated with ERP software can draw on data in the system to instantly answer any questions customers might have about availability, prices, or delivery time.
While computers are by no means out of date, a lot of people prefer to have mobile options for all their applications and ERP systems are no exception. With mobile ERP, employees can complete both back-end and front-end tasks, and keep an eye on the status of critical projects with ease – instead of having to sit down in front of a computer, they can access all the data and functionality that they need on the go.
If you’re looking for ERP software, you’re in the right place!
iTrobes is a leading ERP software company that offers its services all over the world. Our experienced developers will help you build an ERP system that is customisable to your needs. We can help you streamline your workflow, identify KPIs on the go, and simplify your business procedures to give you an edge over your competitors.
Write to us today to get started!