10 ERP Trends for 2019
It’s that time of year: Businesses around the world are planning and budgeting for 2019. And if you’re like most businesses, part of the planning process involves looking at current systems and processes to determine what needs to be addressed in 2019. If you’re taking a close look at your ERP system, you’re not alone. The ERP software market is forecast to grow globally to $47B by 2022, according to MarketWatch.
Why? Because, although it’s been around for a very long time, ERP is still very relevant and is considered a core system. However, companies are having a hard time figuring out how it fits into their path to digital transformation. How do you evolve and extend core systems like your ERP along with those that are customer facing to ensure you are taking advantage of digital transformation’s potential?
To keep your ERP relevant—or, if you’re looking to replace your ERP—what to look for in a new system, consider these trends for 2019, and measure your current system or the system you’re considering against them:
- Don’t discount ERP just because you’re not a large company. Traditionally, ERP was thought of as a tool for enterprises, but that’s not the case anymore. With cloud deployment options, software and implementation costs are significantly reduced, making it possible for companies of any size to take advantage of benefits ERP has to offer.
- Use the cloud as the key to transformation. The cloud isn’t just a platform or a deployment option; it’s the key to digital transformation, so your ERP should be in step. Although it’s tempting to stay on premises for whatever reasons you might have, don’t box yourself in. Develop a cloud strategy that includes your ERP and other core systems.
- Extend with AI, machine learning, and analytics. Part of your plan should be to invest in intelligence and automation. Traditionally, ERP users would look for add-on products, but that’s no longer necessary. These capabilities are part of today’s ERP systems, allowing you to grow and scale in your own way and in real-time.
- Don’t forget social media. Regardless of your business or industry, social media is no longer a “nice to have.” It can significantly change the way you operate at every level and in every department, so your ERP needs to be able to integrate or at least cooperate with your social media strategy.
- Partner with firms that break the traditional mold. With the advent of the cloud, the traditional role of technology partners will no longer suffice. Find an ERP partner that matches technology they provide and how they deliver service with your needs—not the other way around.
- Take advantage of personalization. Today’s ERP systems are built for personalization. Some, like Dynamics Business Central, even offer tools to help make it easy and fast for anyone—not just programmers—to customize the application to their needs, improving everything from productivity to the customer experience.
- Don’t underestimate the power of data. Data has become a very valuable asset, so you need an ERP that ensures the ability to access, analyze, and present that data. Your ERP should give you the ability to tap into other data sources as well.
- Security, security, security. You hear it everywhere, every day. Data security is not to be taken lightly, or you pay the consequences. While ERP alone can’t cover all your security requirements, it is imperative that your ERP offers controls to protect the data it contains and make it easy for you to monitor and audit.
- Ensure mobile accessibility. Regardless of industry, mobile devices are being used more frequently, and mobile workforces are becoming more commonplace. Your ERP must give your employees the ability to access it from anywhere, at any time.
- Don’t forget features. It’s never a good idea to choose an ERP (or evaluate your current ERP) based on features alone. However, it’s still important to evaluate based on your company’s needs and thoroughly test features to ensure they deliver on their promises.
ERP is changing, but it is still a core system and has the potential to drive digital transformation. Stop thinking of ERP as an accounting system or record-keeping software. Make it a part of your transformation strategy, and make sure it has the strength and agility to let you take advantage of new trends and technology.
Contact the experts at ArcherPoint to talk about how your ERP can help you transform in 2019.