We are close to 2020 and if you were to still look at ERP about 5 to 7 years ago, it was deemed as one of the most exciting areas of a business. Today, that trend still stands. While the ‘vanilla’ in ERP is a constant feature, there is no denying that the industry is pretty much consistently evolving with newer technologies becoming guiding lights to better deployment. Even if this is an old-school concept, it is relevant, even now, with better cloud service applications that have the (unimaginable) ability to deliver functionality modularly.
By definition, Enterprise Resource Planning is a software tool that can single-handedly control every aspect of your business from inquiry to order processing to after-sales customer support. Come 2019, and manufacturers and distributors are looking into future to map out IT strategies amongst fast-paced, interlinked and complex technological drifts that are not going to be backing down any time in the imminent. For businesses, the advanced version of the ERP software portends good tidings due to its enhanced performance. Manufacturing and distributing are all set to be transformed in 2019.
With more than a decade implementing ERPs for several businesses, XCEL Corp ensures constructive development and deployment of all systems to precisely interact with the processes, immaterial of its size and complexity.
Trends in 2017 and 2018 would get honorable mentions because of the evolution that these years saw in terms of Big Data, software processes and more importantly open source ERPs. These trends, to a great extent, though further than what they were two years or even one year ago, still hold ground.
2017 significantly focused on technological tools that would be indispensable to manage a business and these software were almost imperative for organizations to adapt to the rapid changes in e-commerce.
It was also a time when businesses were overwhelmed with big data. Futuristic paths would be spearheaded only with the effective usage of big data and analytics. Businesses can still undertake critical decisions parallel to rapidly altering market trends while identifying open markets with the study of big data.
Open Source ERPs
Small and medium businesses were predicted to reap the benefits of e-commerce through the availability of open source ERP solutions that were cloud-based. About the same time, integrated ERPs were also introduced into the market. Big data was becoming easily manageable with the help of these fresh open source resources preparing companies for the impending e-commerce arena.
The moment cloud computing ERP was introduced, single window operations got a tremendous boost. All business management, including BI and CRM, were managed with one software through seamless integration of all the existing and newer processes. Control was enabled by a centralized data server along with a network of cloud computing. This modernized businesses while assisting in big data management..
With the arrival of 2018, social media and technology ERP took the limelight impacting the adoption of ERP Systems for development and growth. Some of the best trends were observed in Cloud, Social, Mobile and Modular ERP solutions.
Proffering cheaper and faster solutions, productive cloud-hosted ERP solutions helped enterprises grow quickly due to their flexibility, accessibility and due to their ability to overcome challenges such as high maintenance costs.
ERPs integrated into social media
Social media took an upturn as well, with the abundance of its usage especially becoming a vital medium for customer interaction. Therefore, a modern ERP software would get functionally edible with an in-built social media package that would track, monitor and process the entire information flow. With the integration of social media, already-potent ERP platforms only widened their horizons.
With the surge in mobile purchases, it became necessary for organizations to get real-time access to customer information. Mobile ERPs were innovated that would facilitate data gathering, instant report generation and would simplify core business processes while providing valuable insights into a business’s future processes.
Modular ERPs are attractive even today as these allow users to choose modules within an ERP that are only important to them. This way, acquisition costs are minimized as only a few features are utilized that suit the requirement of the business.
Outright benefits of an ERP
There are several advantages to implementing an ERP system within an enterprise. It simplifies day-to-day operations, automates crucial business processes, minimizes manual tasks and augments analysis and insights. Besides, it also cuts down on the inefficiencies of an organization by remodeling businesses and aligning software goals to sync them adequately to suit a business’s requirements.
Business processes are remodeled to map out tasks, roles, and interactions within a system. XCEL Corp, particularly, builds ERP software to support every job while illustrating comprehensive requirements within a process.
Technological transformation precedes process modeling, and ERP implementation is more than just that. It eliminates redundant and repeated processes to create more efficient and productive operations while laying emphasis on development across all levels of the business and not just those elements encompassed in the software alone. The technology provides enterprises with room for identification, prioritization, and improvement before even beginning the deployment.
Along with ERP comes change and rewarding business in terms of cost savings and efficiency.
You must choose the right ERP vendor to support your requirements. XCEL Corp meets with every process stakeholder within a company to understand business goals and perceive the complexity and sophistication of the software you require. Our experts make every effort to determine the specific needs of the company and align them with industry requirements and software scalabilities. We also proffer customization to provide you with the perfect fit, especially when your service processes are intricate. All your crucial activities are strategically executed without resorting to drudgery.
Prophecies for 2019
With the right kind of ERP systems, no doubt, the future is absolutely bright. Manufacturers and distributors, in particular, are looking to map out strategies that will match the pace of enterprise technology to transform their existing processes into productive and cost-effective systems that are future-ready.
And so, it is the buzz word. No longer considered meaningless, the introduction of advanced analytics is only going to increase the presence of IoT in 2019. Interconnected machines will grab data from the internet to provide performance metrics and other crucial insights that will optimize production and shop floor performances. IoT enterprises will power equipment to interact with the ERP system so that data is automatically and adequately captured and manufacturers, in turn, will gather greater visibility into their production and supply chain. Operations will be streamlined while augmenting machine connectivity thus managing processes efficiently and encouraging better decision-making. Delays will be prevented, inventory well-managed and downtime drastically reduced with the help of sensors, RFID tags and smart beacons incorporated into manufacturing and production. As one of the most exciting trends for this year, IoT is also anticipated to enhance peak efficiency within units.
ERP implementation will not be limited to enterprise usage alone. It is expected to gain a wider reach with Small and Medium-sized businesses making smarter IT investments. Craving to drastically eliminate rigid points of solutions and weary of current inefficiencies, SMBs are bound to invest in strategic ERP offerings that profess all-in-one systems to efficiently manage end-to-end business performances.
Compliance and security
A growing area of focus due to habitual cybersecurity breaches, and new regulations such as GDPR being imposed in 2018, security and compliance will be prioritized. Data protection will take precedence and security protocols will be presented with enhanced encryptions while incorporating stringent restrictions and accessibility.
Never willing to go out of fashion, due to its versatility, Cloud ERPs will still continue to rise. There are several businesses migrating to the cloud with efficient vendor partnerships such as XCEL Corp that provide them with major improvements. This New Year, the cloud ERP trend is all set to continue and cloud deployments will dominate the market. Businesses will see lower up-front costs while reaping the benefits of enhanced flexibility and scalability with the Cloud ERP.
ERP is not a hidden or a big-ticket element anymore, as it is becoming more secure, accessible and advanced. The ERP market is continuously growing and businesses will have to soon upgrade to modern software solutions if they have to stay up-to-date.
With Gold Standards of ERP practices, XCEL Corp will ensure that your solutions follow the best practices of a system even if you are implementing ERP for the first time. Our ERP systems are built-in with risk mitigation tools and therefore, provide users with secure workflow automation and help maintain data integrity.
Whether you want to upgrade your legacy software or if you wish to integrate existing platforms, reach out to XCEL Corp’s experts for a consultation.