Since we have entered our new year, now is a good time to take stock of the business landscape and see what is happening in the world of ERP in the year ahead. Below are just a few of the top trends we see developing in the ERP industry for 2019.
Merging Of the Legacy ERP Systems
We are all looking to do more, faster, and more efficiently. The drive to more with less is pervasive. This is especially true with ERP software. Because ERP software impacts all areas of business, companies want to be able to take advantage of the technological advances available to be as competitive as possible. ERP vendors understand this and are putting more development resources into building new features and creating secure software, while at the same time, the support and development for legacy systems have dwindled. Understandably, ERP vendors are less likely to introduce new functionality or provide long-term support for older versions and legacy products. To continue to receive the support and software functionality they need, companies will find themselves forced to move off their legacy ERP systems. Business Need for ERP Application.
Trying Hybrid ERP Option
While the advantages of using a cloud-based ERP are numerous, it remains true that a cloud-only strategy is not the best option for all companies. To serve those companies, many ERP partners, offer hybrid ERP options giving companies the flexibility to add new cloud-based modules to an existing ERP. For example, if a company’s on-premise ERP is working just fine, but they would like to add on additional functionality without having to purchase additional hardware or scrap their existing system, they can now just plug a SaaS module on top of the existing ERP. This is becoming a more popular option for many companies, as it provides more flexibility, without breaking the bank.
Another “Hybrid ERP” option trending lately, is the concept of incremental ERP deployment. Rather than replace an ERP in its entirety, many large companies are choosing to deploy a SaaS ERP for a portion or subsidiary of their company. This approach gives businesses the opportunity to monitor SaaS ERP performance to determine how it might fit into the existing on-premise ERP implementation, or whether it should replace on-premise ERP throughout the entire organization. It is sort of the test-drive option of the ERP world.
The Internet of Things with
ERP and the Internet of Things (IoT) has been in our lexicon and “trending” for quite some time. However, as more devices and software become connected to the internet, the more we will be hearing about ERP and IoT trending together. More connectivity means more data that will be automatically funneled into the ERP system. More data means better oversight into supply chain logistics and performance, inventory management, and resource allocation, to name just a few advantages for real-time data access. As the benefits of having this type of data readily accessible prove invaluable, companies that can will invest in building out their ERP and IoT functionality.
The ERP industry is constantly changing and adapting to meet the needs of its users. While the why of change stays consistent, the how does not. To stay abreast of the changes and trends happening in the ERP industry and what you need to know to keep your company competitive, be sure to subscribe to our blog, and our newsletters; we will deliver these insights straight to your inbox.