2021 is creeping up on you. Here’s what you need to know to regarding the trends of ERP systems (Business Operating System) so you don’t seem like you’re living under a rock. Here are some points we’ve gathered.
Instantaneous Insights to Data
Data stored in the system can be accessed instantaneously as it updates, and reports can be generated immediately from that data. Issues can be prevented from arising as you are always kept in the loop of what is going on and have a better grasp of the progress of your business- such as the performance of the company or changes in your inventory.
Being able to access these data and information in real-time would put your business a cut above the rest as you can form smarter decisions based on these timely and precise information. These insights allow you to take a pragmatic approach when strategizing and planning for your business, which will benefit the organization in the long run.
Advancement of Cloud ERP
The introduction of cloud-based ERP is revolutionary, to say the least. Although it is not a newly introduced concept, it is quickly evolving to become the standard choice for businesses.
With the launch of cloud computing solutions, no longer are ERP solutions only limited as an ‘on-premise’ solution. Woes about pricey software updates and maintenance are thrown out the window. We know how budgeting is vital to your business. Now, you have the option to choose only those modules essential for your departments, thereby saving yourself from spending on the unnecessary.
As cloud services continue to grow more popular, development of various new features and customization options will no longer be just a dream. This will further improve customers’ satisfaction as it continues to adapt better to their needs with personalized solutions.
Mobile Application- Check on Your Business Wherever You Are
Having a mobile approach to ERP means business operations can be performed even if you are on holiday in the Bahamas. Not that it’s ideal, but it’s possible. All you need is a mobile device like a tablet or a smartphone and voila, you are able to close deals even if you’re not in the office. This is all made possible as all the information you need can be accessed remotely through a mobile device. As such, the reach of your company can be vastly expanded.
Not to mention with ERP mobile apps, you’re able to review employee time, track inventory or even organize your schedules. And imagine, all these are achievable just at your fingertips. The best thing? Your customers can be kept satisfied as you’re able to perform these various functions remotely, at any time.
Artificial Intelligence is Real Intelligence
There has been chatter for a while now about Artificial Intelligence (AI) in the ERP industry. This technology is known as iERP – Intelligent ERP. What would be most advantageous to your business is the ability of IERP to examine past data and other insights. From here, you will be recommended by the system more apt ways of performing your internal processes. Think of how much your business’ productivity and efficiency can be amplified with the implementation of IERP.
ERP Revolves Around Customers- YOU!
As ERP evolves, it becomes more user friendly – think of it like ERP Made Easy. It will be simple enough to implement and upkeep with minimal hand-holding from vendors.
Internet of Things (IoT)
“The Internet of Things (IoT) is a concept that provides objects, such as cars and electrical appliances, with the capacity to transfer data over a network without requiring human interaction”.
Through all the collected data, businesses can scrutinize the organization’s performance. Basically, the sensors will be the ones doing the heavy lifting- evaluating and examining all those data. Gone are the days of manual data entry, which will definitely cause for celebration for your employees. They can now focus on more significant tasks.
"ERP is commonly misperceived as a computer system. Not so. It's a people system made possible by a computer system." – Thomas Wallace and Michael Kremzar
FINTECH RAKYAT helps businesses migrate to the next generation of the Digital Age. Our Business Operating System: HIVE BizOS is a comprehensive package of custom back-end and front-end solutions, designed to allow you to modernize your business quickly and effectively.
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