Top 3 ERP Trends in 2021 ERP News
Enterprise Resource Planning (ERP) software supports and manages multiple business functions including purchases, sales, accounts, inventory, payroll, and manufacturing processes. Not only can the mundane tasks be eliminated by automation but the employees can also have role-based access to the functioning of the business.
Today, businesses depend on ERP not just to manage backend operations but also to automate routine tasks and strategic decision-making. The data available through effective usage of ERP can provide intelligent data analytics which can transform business digitally. It can lead to faster and smarter decision-making that helps the business to stand out from its competition.
TOP 3 ERP TRENDS IN 2021 ERP NEWS
ERP has seen increased adoption in recent times. Technology solutions that are not flexible stand a large chance to slow down the business operations and decision-making process ultimately leading to loss of market share. Here are the top 3 ERP trends in 2021 ERP news which will shape the future of businesses:
Trend 1 – Shift to Cloud-based Solutions
Among the trends in Enterprise Resource Planning, the shift to cloud-based solutions has been most prominent in the past and current year. Since the outbreak of Covid-19, the recording of business transactions on standalone systems has been turned upside down. With the majority of the workforce shifting to work from remote location models cloud has been nothing short of a blessing. Apart from offering the flexibility to work from anywhere, most businesses have gained from cost reduction, faster agile performance, real-time analytics, customer experience, and more.
Trend 2 – Vendors offering Custom Solutions
One of the major trends in ERP stands for flexible ERPs which means its vendors are offering custom solutions to suit the specific operational struggles of the business. Only a few of the software solutions can be said to be suited for different industries. More and more software vendors are understanding the struggle associated with it and are coming up with an option to provide customized software solutions for different industries. Such customization also helps the businesses gain access to data that can be more relevant for the industry they operate in.
Trend 3 – Data Analytics
Over years, the value of data has remained unexplored. Data analytics has emerged to be among the most beneficial of the ERP market trends. Businesses have become dependent on IT as never before. Employees and management can connect to ERP from their devices in any location and gain access to such analytics. Over some time, the analytics provide accurate predictions for the way any business unit should function to execute profitable business strategies.
Unlike the previous times, ERP trends are not limited to large conglomerates. They are also made affordable by cloud technology making many software solutions accessible to small and medium businesses. Many organizations begin with basic versions and then scale up as they begin benefitting from the usage of technology.
If you are looking to gain from the ERP trends reach out to the experts at Turqosoft who can help redefine your business process. Connect with us through email firstname.lastname@example.org or call us on +91 9841205845. Also, you can follow us on LinkedIn, Facebook, Twitter, or Instagram for a regular dose of interesting updates.