Writer: Efsun Amani
The COVID-19 pandemic has transformed Enterprise Resource Planning (ERP) in all fields. Its impact on the demand and supply cycle has led companies to find fundamental solutions.
Companies that have previously switched to Enterprise Resource Planning can more easily adapt their business processes to the pace of change.
Businesses rely on ERP to reduce costs by automating many tasks and giving officials faster access to vital information to make the right decisions.
While companies increasingly use ERP to run their business processes and make the right decisions easily, ERP systems constantly adapt to new technologies. In this article, we would like to discuss ERP system developments since 2020. First, let’s talk briefly about ERP;
What is ERP?
In short, the ERP system is a technical support that gathers all the company’s business processes in a standardized manner under one roof. Enterprise resource planning supports, consolidates, and controls all company business processes.
Advantages provided by ERP
All data is always kept up to date in a central database, eliminating manual verification and validation processes.
All employees can access the same database within their authority limits, thus facilitating internal communication.
It allows you to use time more efficiently and save time.
Feature of ERP System
ERP systems provide the company’s operating processes and needs with different modules that can be integrated into a single leading software.
ERP modules vary depending on the company’s activity type, sector, structure, and number of users.
Standard ERP modules are as follows:
• Sales and Distribution, Stock Management, Purchasing Management, Production Planning and Production Control
• CRM (Customer Relationship Management)
• Financial Affairs (General Accounting, Finance, Cost accounting, etc.)
• Payroll and Human Resources
ERP trends
With the developments, cloud ERP systems have come to the fore for companies that predominantly implement the remote working model; the reason for this is that they can be maintained more easily remotely.
One app for everything
First, we can discuss the ERP trends of 2023 and implementation (moving specific business processes to the mobile world with special applications).
Implementation plays a vital role in enterprise resource planning software.
For example, a mobile application can give warehouse tracking for the logistics process.
The data obtained here can later serve as a resource for performance planning.
Smart services
One of the newly noticed aspects of digitalization is smart services. Smart services, also known as digital services, have offered unlimited opportunities for companies. Smart services collect and analyze data from networked, intelligent, technical systems and platforms. The resulting data is then transferred to the ERP system and can be used in many areas to create new business opportunities, from marketing to sales, product planning, and after-sales support.
Data mining
In data mining, data in the enterprise resource planning system can be turned into reliable and monetizable predictions using statistical methods. This process, which can be carried out completely automatically, provides better results as companies collect more information. Operations such as customer churn prevention or dynamic pricing can now be carried out with data.
Cloud ERP
With the COVID-19 epidemic, the value of cloud ERP increased even more and accelerated the transition from on-premise software to cloud ERP. Because now employees can do their jobs from anywhere with an internet connection using cloud-based applications. Additionally, investments in cloud ERP are increasing to reduce costs and support savings.
Two-layer ERP
A less costly two-layer ERP system can be established in companies without installing a single ERP system for the headquarters and its affiliated offices. This system is a strategy to increase investments in the company’s existing ERP at the first layer. Other departments use different ERP solutions, usually cloud-based, as the second layer. While large businesses can use the core ERP system for essential processes, small businesses can turn to solutions that meet the specific needs of the units.
Digital transformation
Digital transformation, which integrates digital technology into all business processes, increases employee productivity and improves customer services and communication.
Since the ERP system can be applied in all areas of activity of the company, it is the right place to start this transformation.
Other technologies integrated with ERP
Companies are integrating business applications with new technologies to improve core operations.
Personalization
It is not easy to customize to the specific needs of each business. Businesses can benefit from cloud ERP platforms designed with analysts’ low-code technology to more easily configure their processes.
Artificial intelligence – powerful insights and improvements
While companies can add AI functionality to their ERP systems, more vendors now offer ERP software that provides these capabilities built-in.
Predictive analytics studies
It is always possible to analyze ERP data to uncover historical data of the business. Still, after 2021, the focus is on using predictive analytics to find and address what may happen in the future.
Mobile ERP
ERP solutions are evolving to provide on-the-go access to critical business data.
With its user-friendly interface, mobile ERP applications can help users do their work even when they are away from the computer. This solution provides real-time data and provides benefits in obtaining faster and more accurate data.
ERP in the future
The sudden impact of the COVID-19 global epidemic on demand and supply flows pushed companies to look for solutions. Optimizing processes to use and manage ERP software remotely is one of these solutions. Examples include taking advantage of the practicality of mobile ERP, providing secure remote access, increasing the automation of business processes, and benefiting from ERP supply chain capabilities for the business to continue its business processes uninterruptedly.
Resources:
ErpCommittee.org
innova.com.tr
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