By Stuart Scanlon, managing director, and Dr Danéel van Eck, director of strategy, epic ERP
The pace of technology is astounding! Change has become a constant and ERP is in a constant state of evolution. This is great for businesses who are looking to streamline processes, improve efficiencies and drive up the bottom line.
Here are some of the main trends we believe will be prominent in 2023:
1. Change management
People are growing more resistant to change after experiencing a significant amount of it in a short period of time. This can make change management more difficult, especially when trying to implement new systems and processes such as an ERP platform.
It is important to communicate the benefits of any new system clearly and highlight how it will improve the way employees work in order to overcome resistance and ensure successful adoption.
2. Adaptation
The current global economic climate, characterised by potential downturns and volatility in the market, has led to a greater focus on utilisation and adoption. Organisations need to do more with less.
One way to achieve this is by maximising the use of existing resources and systems, which includes ensuring that employees are effectively utilising and adopting the systems and processes that are already in place. This can help to optimise performance and improve efficiency, which is crucial in times of economic uncertainty.
3. Specialisation
One size does not fit all. Industry-specific solutions are key. This is especially true in manufacturing, where different industries have different requirements and processes. For example, a manufacturing company that produces automotive parts will have different needs from a company that produces consumer electronics.
Companies need a partner who takes a holistic view of their business and industry before offering a suitable solution. This leads to better utilisation and adoption of the system as it is more closely aligned with the client’s unique processes and requirements.
4. Non-traditional players
There has been a marked increase in non-traditional software players, such as Salesforce, providing ERP as part of their product offering. This trend is driven by a desire for platform standardisation. Once a client is on a particular platform, the vendor can expand the tools available to them to keep them on that platform. This allows for a more holistic integration of the ERP system, as it can be customised and standardised to offer a broader range of services beyond its traditional offerings.
This is in line with the trend towards fully integrated ERP systems that can provide a comprehensive solution for managing a variety of business processes.
5. Off-the-shelf solutions
The trend in the ERP industry is moving towards less customisation and more pre-built, off-the-shelf solutions. This approach can make implementation faster, cheaper, and more reliable.
In the past, configuring these out-of-the-box solutions could be complicated and lead to inaccuracies in implementation. These days this is no longer the case. Building ERP systems from scratch is becoming less common as pre-built solutions are more cost-effective and have a quicker time to market. It also allows the vendors to focus on providing a more robust and reliable product, as well as offering ongoing support, which can be difficult to achieve with custom-built solutions.
By using pre-built solutions, companies can take advantage of the experience and best practices of the vendor, which can lead to a more efficient and effective implementation.
6. ERP for everyone!
ERP systems are no longer just for manufacturing companies; they are now being adopted by a wide range of industries. The ERP offering has become more agile, adjustable, and affordable, making it a viable option for a wider range of businesses. In the past, the lack of ability to execute and the long implementation process were major turnoffs for many companies, but now ERP solutions are designed to be more fit-for-purpose and can be implemented more quickly and efficiently.
ERP systems are increasingly being adopted by industries such as retail, healthcare, finance, construction, education, distribution and many more. ERP systems can help companies in these industries to manage their financials, supply chain, inventory, production, human resources, and customer relationship management in a more integrated and efficient way.
In fact, ERP is now considered a must-have solution for all types of businesses, regardless of their size, industry, or complexity of operations, as it helps them to automate their processes, increase efficiency, improve decision-making, and gain better visibility into their operations.
7. Artificial intelligence
The use of AI in ERP systems is growing rapidly, allowing for greater insights and faster decision-making. In the past, the traditional method for using ERP systems was to deploy them and then manually gather and analyse data to make business decisions. However, with the advancement of AI, ERP systems can now gather and analyse data automatically, making the process more efficient and accurate.
AI can be integrated into various ERP modules. This allows for the system to make predictions and recommendations based on the data it collects, which can help companies to optimise their operations and make better decisions.
The use of AI in ERP systems can also help to improve forecasting, reduce operational costs, and increase efficiency. In addition, it can be used to automate repetitive processes, such as data entry and analysis, which can free up employees to focus on more strategic tasks.
The integration of AI and machine learning into ERP systems, can also help to improve the accuracy of predictions, and help companies to identify potential issues before they become a problem.
Contact us if you would like to learn how epic ERP can help your business grow.
