3 ERP Trends For 2021
Now that we are in the first month of 2021, it is a good time to look ahead what are the major ERP trends can we expect in this year. In 2020, Many companies started to figure out systems to handle remote work. Technology and software are developing quickly and there will be a strong impact on how ERP is developed in the future.
Some companies are using on-premises ERP and they may realize its expensive cost, limitations of flexibility and innovation. Therefore, cloud adoption is going to play a vital role in 2021. Plus, ERP implementation comes with startup fees and hardware costs so they may too expensive for small businesses. Many enterprises refrained from investing in ERP software development before the Coronavirus.
Cloud ERP is an Enterprise Resource Planning (ERP) system that runs on a vendor’s cloud platform and allows their clients (Enterprises) to access over the internet. Cloud ERP systems are likely to go mainstream in the following years and we will see significant progress in 2021.
Cloud is the backbone of the data-driven, app-based tech ecosystem that has been vital in helping us manage this change.
With the advent of cloud computing, the global cloud computing market is poised to grow from $371.4 billion in 2020 to a whopping $832.1 billion by 2025. More vendors are now offering cloud-hosted solutions. It makes ERP systems more accessible and no longer have to worry about expensive maintenance or upgrades fee.
Rise of iERP
Artificial Intelligence features, also known as iERP, will enable businesses to increase productivity and efficiency. To enhance ERP performance enhancement, enterprises normally need to install additional plugins to their ERP systems. However, it’s becoming increasingly common now to have such functionalities built-in in 2021.
An iERP enables companies to automate their complex business processes through intelligent data processing methods. The signature capability will be innovative data processing that will lead to reduction of errors and information loading time, creation of new workflows, process automation of routine tasks such as account payables, and conversion of complex, unstructured data into actionable insights.
Rise of Mobile ERP
According to Forbes, mobile ERP platforms are expected to grow in popularity as business processes are conducted on mobile phones and tablets rather than on computers.
Mobile ERP gives you greater flexibility without the need for a large investment. In 2021, having your ERP or business applications installed on a mobile to allow you accessing the critical business data-on-the-go will be a norm. Mobile ERP allows employees to get a snapshot of accurately captured data via a user-friendly dashboard, view status of workflows from their phones, complete tasks at home, and collaborate with colleagues across the world. For example, not all employees in your company speaks Japanese but they still need to be able to use mobile data collection devices. Customized applications include the ability to quickly switch the display to an alternative language.
This anywhere-anytime accessibility to back-end and front-end data in new ERP and business applications tools is a trend that will see an upward swing in the coming year.
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