ERP TRENDS TO WATCH OUT IN 2023

Enterprise resource planning (ERP) solutions have expanded their tentacles in diverse business functions, from accounting and HR to sales force automation (SFA) and e-commerce. Businesses doubtlessly rely on ERP for its benefits, including minimizing costs by abolishing redundant tasks and automating tedious processes. ERP offers access to the employee’s critical information and enables them to make better and faster decisions.

ERP solutions evolved and incorporated modern technologies to empower broader procedures with time. At the same time, businesses have found them more reliable and worthy. Thanks to higher management performance, greater accuracy, and improved planning.

Besides, various ERP trends are leading in Grexpro different industries, and this article is based on some of the major trends anticipated to rule this year.

Major ERP trends leading in 2023

Cloud ERP

Over previously preferred on-premises ERP implementation, organizations are now adopting cloud ERP to take the benefits such as seamless deployment, flexibility, low costs, modern functionality, easy accessibility, and more for better business growth.

The emergence of a pandemic is also one reason that has contributed to making cloud ERP a trend. Cloud-based applications enable employees to work from anywhere with an internet connection. Moreover, with its advanced functionality and core processes, cloud ERP has become the backbone of organizations.

Two-Tier ERP

Two-Tier ERP is amongst the topmost trends in 2023. Over the single ERP system utilization for both the headquarters and one-size-fits-all approach, a two-tier strategy empowers organizations to hold the investment in existing ERP systems at the corporate level as tier 1, along with enabling the subsidiaries and divisions to function with a different cloud-based ERP solution. The companies can use their core ERP system for core processes and financials, as well as address their specific requirements. This approach is associated with an array of benefits, including affordability, seamlessness, and flexibility.

Digital Transformation

Digital transformation signifies the integration of digital technology into business functions to boost regular operations. This approach leads to improved revenue and holds on the competitiveness, increasing employee productivity and refining customer services.

Beginning with ERP is the best step as it typically becomes a part of most of the areas of the organization. In addition, ERP integrated with IoT devices and implementation of AI and advanced analytics is also considered a digital transformation.

Personalization

Cloud ERP is a low-code platform designed for seamless configuration. Additionally, various ERP solutions are available that are tailored to the requirement of specific industry needs. Companies require ERP solution that enable them to offer personalized and suitable customer experiences. ERPs offering features such as customizable dashboards and AI-based efficient and conversational user interfaces, including chatbots, are highly in demand.

Artificial Intelligence-Powered Improvements

ERP immersed with AI and machine learning is among the greatest trends. They are ruling in order to fulfill the increased demand for customization and are also helpful in improving a wide range of business procedures. While some companies add AI functionality to ERP systems, various ERP software now have built-in features and capabilities. AI-based ERP also offers considerable benefits, such as more insights and improved processes.

Mobile ERP

ERP providers also offer mobile support as mobile apps are becoming a norm. ERP solution offers on-the-go access to evaluative business data enabling employees to perform both back-end and front-end tasks from anywhere between the warehouse floor to the retail checkout terminal. These apps are designed with user-friendly interfaces and help them get the work done, such as call logging, time tracking, and status monitoring of critical workflows, without requiring a desktop.