What ERP is and how an ERP system works, is now known to every business or enterprise, and due to this increased awareness, it is not a hyped concept anymore.
An enterprise resource planning system is beneficial for any business (be it large or small) in several terms, as it takes into account the integration and automation of all business resources and functions. An ERP system help businesses to collect, stockpile, manage and figure out data from different business actions that include product planning, manufacturing, human resources, advertising and sales, inventory management, shipping of products, purchase, data services, finance and accounting, etc. With the help of this system, a business can easily track its resources, share data across departments and can track the status of its commitments. But, knowing the benefits of an ERP system is not sufficient enough for a business to grow. It is important for a business to know the emerging trends in ERP, so that it will find or understand the new opportunities to achieve the desired goals and objectives.
- CRM is the first and the foremost priority: Most of the ERP systems in organizations are, now, driven by CRM. An effective CRM platform will help enterprises to deliver right information, that too at speed, for a successful ERP system. The valuable customer data, obtained from an effective CRM system, makes the sales team of an enterprise efficient, which thereby boost-up company’s sales.
- Need based ERP: Small and medium-sized enterprises or firms require only some of the functionalities of a complete ERP software. Except few core functions, rest other functions remain idle, thereby reducing the overall productivity of the product purchase. This is the reason why the usage of ERP is foiled in SMBs. As a result, the current market trend is the sale of need-based ERP software.
- Increasing focus on Business Intelligence: ERP and Business intelligence can be a powerful combination. Using this software along with specialized business intelligence, businesses are focusing on making better predictions and taking better decisions. If a business has employed an effective and right enterprise resource planning system, it can take better decisions for future development.
- Increasing need for focused services: The time when the software was introduced, the focus was only towards making specialized systems. But, with the passage of time, vendors have started supporting generic systems, and organizations are now using specialized ERP software to great extent.
- Changes in market: Significant changes in the market have given vendors a platform to make their presence stronger. Earlier, there were many vendors, but now there are few recognized players with stronger offerings in their focus areas.
- Mobile ERP: Another emerging trend is that, now, organizations are investing in ERP solutions that are easily accessible from mobile devices like smartphones and tablets.