Trends in the business world are constantly evolving and maturing; they originate from simple thoughts or ideas, grow as strategies, mature and finally become necessities, that we wonder how we ever ran a business without them.
There are a lot of technology as well as business trends affecting enterprises these days. It is obvious that leaders in global Enterprise Resource Planning (ERP) marketplace always show an open approach to innovations and market trends through the years. Below are the major trends that I believe have the potential to shape the future of ERP.
Internet of Things (IoT) will revolutionize business
The Internet of Things has already started taking the human race to the world where anything around us has the capacity to communicate, as you have seen in science fiction movies. Analyzing progression in technology and increasing demand for intelligent devices, I believe there will be 100% IoT within a decade.
(Image: Disruptive Technologies Global Trends 2025; Wikimedia Commons - Licence)
In the case of Enterprise Resource Planning solutions, devices attached to various resources and assets can feed all relevant data including their location, performance, usage etc. to the application without requiring human intervention.
Wide acceptance for cloud services
For many years, the data security concern was the big issue restricting organizations from moving to cloud ERP. Now, as the result of technological advancements and fine-tuning these security concerns have been addressed and socialized.
(Video : ePROMIS Solutions Inc. Texas)
As stated in the market analysis report of ePROMIS Solutions Inc., a global leader in Enterprise Resource Planning solutions, the number of Cloud ERP inquiries has increased by 60% in the first half of 2016, compared to the same period in the previous year. Analyzing current market trends, I predict a much wider acceptance for cloud ERP in the coming years.
Getting more specific
Globally the trend to become more industry-specific continues to grow and more organizations consider improving their business processes with a flexible industry-specific ERP environment.
(Photo: 贝莉儿 NG; Image source: unsplash.com. Creative Commons Zero - Licence)
Though a number of ERP vendors offer industry-specific solutions these days, only a few solutions have succeeded in providing organizations with the exact functionality, when and where the business needs it. The demand for pragmatic and innovative industry-specific software will reform the ERP industry and more organizations will replace their generic, traditional ERP software with industry specific solutions.
More SMEs will adopt an ERP environment
Market studies acknowledge the Small and Medium Enterprises as the backbone of any economy. Identifying the potential of growing organizations, leaders of global ERP software sphere are now focusing on developing efficient strategies to dominate the small and mid-size sector.
(Photo: Luis Llerena; Image source: unsplash.com. Creative Commons Zero - Licence)
Up till ERP software and deployment became more cost-effective, larger organizations had a bigger technological advantage over their smaller and mid-sized rivals. Gone are the days where a company needs millions to embrace Enterprise Resource Planning environment. The increasing competition and the need for more sophisticated business solutions will accelerate ERP adoption of Small and Medium-sized Enterprises.
"Trends originate from simple thoughts or ideas, grow as strategies, mature and finally become necessities, that we wonder how we ever ran a business without them"
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