What is ERP and why it is a must for 2020?
STEP INTO 2020 WITH FUTURE READY TECHNOLOGY!
The New Year stands before us like a chapter in a book, waiting to be written. One can begin the story by setting goals and dreaming to start afresh. Ninety percent of times we make resolutions which are meant to be broken, but the aspirations are new with a zeal for life. At the onset of yet another new year, the technology industry is all set to bring in innovations and new nuances. With the changing times we all move forward and upgrade ourselves to the new. It is an affirmation that you are living your life and believe in growth as only dreams give birth to change.
Team Expand ERP wishes all our patrons and partners a very Productive and Progressive 2020!
WHAT IS ERP?
ERP is the abbreviation for Enterprise Resource Planning which is a business automation software used by companies since the 90’s. It streamlines daily business processing such as accounting, procurement, project management, risk management and compliance and supply chain operations.This system ties together a multitude of business activities and enables the flow of data between them. A complete ERP suite also includes enterprise performance management software that helps plan budget, predict and report on an organisation’s financial results. The central feature of all ERP system is a shared database that supports multiple functions that is used by different business units. In other words it gives a 360 degree view of all business data in real time where every unit works with the same data,increasing productivity and reducing errors.
ERP system is the mode of communication for integrating people, processes and technologies across a modern ambitious enterprise. For instance, a manufacturing company that builds automobiles can procure its machineries and components from several multiple suppliers using an ERP system. It can also track the requisition and purchase of goods and ensure seamless flow of processes throughout any transaction. In short ERP systems bring order to chaos so that all users-from CEO to accountants, can create, store and use the same data derived through common processes. There are certain specific business benefits with ERP that includes:
- Improved business insight
- Lower operational costs
- Enhanced collaboration with users,
- Improved efficiency
- Higher user adoption rates
- Low level of errors and risks and
- Lower management and operational costs
With the arrival of cloud technology, ERP has become more agile, scalable and affordable. Expand ERP Cloud delivers connected teams, unified data and real time insights to help you and your finance team ensure that the best business decisions are made. With Cloud ERP, your organisation can be future ready. Expand ERP cloud solution is built for the digital age including mobile,social,analytics and the latest emerging technologies.
THE FUTURE IS IN CLOUD: The importance of ERP in 2020
Global ERP software market is expected to amass $41.69 billion by 2020, registering a CAGR of 7.2% during the 2014-2020 forecast period. Between transiting to Cloud, disruption cycles, competition from Amazon and more, 2020 seems to be an exciting year for ERP
Enlisted below are 6 inevitable trends
that are going to takeover in the near future
1. Moving to Cloud
The benefits of cloud-based ERP are numerous and often provide maximum help to small businesses. Cloud-based solutions make it easy for small businesses so they don’t have to maintain their own systems, drastically reducing the need for in-house IT. This makes it possible for small companies with just one or two IT employees to take advantage of an ERP system they otherwise wouldn’t be able to afford to maintain.Of course, large companies also can reap the benefits of cloud-based ERP in a number of ways.
2. Cloud ERP is continuously upgrading
Cloud architecture is fairly a new advancement in technology and continuous updates can be beneficial for companies. However you need to be prepared with staff and plan for an ongoing stream of feature changes and enhancements. So instead of one huge upgrade every few years it is going to change in smaller ways with more frequency. With increased popularisation of ERP systems, the consumerization of ERP systems will be rising.The new generation workforce demand for systems that aren’t run on obsolete technologies. Similarly ERP vendors that support outdated user interfaces will face increased pressure to create user friendly features.
3. More customisable according to personal needs
In the future ERP users will demand for ultimate customisation of ERP, tailored specifically to the needs of their industry resulting in a more niche market.Currently,the low code market sits just under four billion dollars, by 2020, it is estimated to place the industry at 15 billion dollars.
4. Flexibility of ERP vendors
Vendors will need to be flexible and agile in order to compete during this time of constant change. They should consider things like platforms, microservices and other similar components if they want to create a truly seamless system. From User’s point of view, as businesses give up total control of their systems for ease of use and convenience, they’ll need to learn to be more flexible. As a company, it is better to be open to changing processes. It is impossible to predict how your manufacturing business will look in the future years. ERP for transportation manufacturing or any other manufacturing industry needs to facilitate a reliable stream of top-tier parts. But amid constantly changing product configuration, suppliers partners and of course, customers, flexibility is a must.
5. Amazon Effect
In today’s market, Amazon elevates the need for advanced technologies, requiring rapid deliveries and quick, data-driven decisions. As AI and IoT create a buzz around and are increasingly interested in capabilities that will help proactively navigate disruption and change, such as predictive forecasting and inventory planning. As and when the ERP users increase, it’s most likely that we’ll see an increment in these new technologies.
6. Beyond Siri
Siri and Alexa have brought us convenience for hassle-free phone calls,reliable alarms. and effective browsing. AI or Artificial Intelligence is the future of ERP system enhancements.An AI based voice activated personal assistant can be invaluable to manufacturers making it easier for information to flow seamlessly for in-depth analysis.The automatic analysis of shop floor data also helps streamline production by identifying problems or irregularities on the spot.
The future trends play a pivotal role in today’s evolving market trends and requirements. ERP features for manufacturing SME’s must be able to connect devices, departments, partners, suppliers and your loyal customers in one versatile database. AT powered ERP for transportation or other manufacturing industries will do a lot more than simply track every aspect of your business. It will take your business to the next level and actually provide recommendations for improving and optimising at every level, becoming the real brains behind the operation.
We do it differently.
With automatic regular backups on Cloud and masking feature your data is secured with us for a lifetime.
A ready to fit solution with deep industry knowledge which can be further customized as per your business needs.
Warehousing, Sales force, HR, GPS tracking, we provide solutions for every possible process of your business. Expand ERP Mobile App enables you to now manage your entire business on the move.Mobile apps are undeniably the most quickest and efficient way to respond to real time changes in production. Having instant mobile access on the shop floor makes it possible for the users to deal with live problems instantly, reducing wasted resources and materials.Supervisors can also access product availability or change work data on the spot to eradicate a problem in its tracks. With Expand ERP mobile based app you can achieve all this in real time.
Expand ERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best fit for your business.
Expand ERP has completed 15 glorious years in building trust and faith of our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Jaipur and in other cities. With the advent of a new year we have new aspirations, new dreams and fresh focuses. We will maintain our goal to spread the latest trend in technology to as many organisations we can reach out to. Our team will focus relentlessly to spread awareness and touch the lives of business owners and help them reach their goals. If your goal as an entrepreneur is to achieve great heights for your company, Expand ERP Cloud based software is your ultimate route to the peak. Please leave a comment below for more enquiries and information.