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ERP or Enterprise Resource Planning system, a business process management software that automates, integrates, and digitizes core business processes, is now becoming an integral part of business management.
The system helps optimize business performance by consolidating and simplifying common business processes into one convenient platform. For many organizations, the ERP system has helped streamline business management giving them a significant competitive edge in the market.
ERP System – A Quick Look Back
The roots of the development of the ERP systems can be traced back in the 1960s. Back then, it was primarily used to manage basic manufacturing processes and control inventory. ERP then evolved to MRP or Material Requirement Planning in the 1970s. And, by the 1990s the ERP systems’ functions have elaborated, with Gartner becoming the first to coin the term ERP. Fast forward today, modern ERP systems are now ubiquitous, particularly in large businesses. The systems are now used to cover core business processes from accounting, maintenance, marketing, human resources and more.
ERP Platforms Heading to the Cloud
As globalization takes over, everyone can agree that the ERP systems will be heading to the cloud technology. This will allow data to be more accessible, more cost-effective and more functional to more people who will need them. With the ERP’s movement to the cloud, many ERP developments are expected to follow.
Level-Up User Experience
Modern ERP systems will feature advanced user integration with more personalized solutions and empower users in shaping the UI or user interface of the system. That said, future ERP system will need to support multiple users collaboration and enhanced customization platform.
Data Availability Anytime, Anywhere
The cloud technology is almost always associated with mobility. With ERP moving to the cloud, critical information will be available to the users anywhere and anytime. This translates into real-time, faster, and more efficient operations especially when the growth of remote working teams is expected in the coming future.
Multiple Solutions in One Platform
Agility which is the ability to evolve, innovate and adapt to change easily will be one important advantage of the modern ERP system. ERP will need to come up with multiple solutions to address both internal and external challenges in organizational management. With the upswing of independent applications and point solutions, ERP will likely face the challenge associated with the integration of data coming from multiple sources.
Business Intelligence
With the growing interest in AI technologies, AI and ERP integration are imminent. ERP combined with Business Intelligence will offer more intelligent applications, advanced analytics, and heightened workflow automation.
ERP System Challenges in the Future
The hallmarks of ERP system all point out to enhanced business management and ultimately, better customer experience.
But the ERP systems’ evolution is not going to come without challenges. One particular obstacle will most likely be the people. History proves that when adopting new technology, most people are skeptical and automation transformation is slowed down. The bottom line is, ERP implementation will need collaboration and conscious management efforts. Only then will ERP be more beneficial and live up to its reputation.
Published:19/04/2024
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