Growth Factors and Future of ERP Systems in the Global Market
Published by : Industrial Automation
Growing innovations and advancements are minimizing the cumbersomeness of enterprise resource planning (ERP) systems and open up scope as third-party applications to assist the business process efficiently. According to the Survey from PwC’s 22nd Annual Global CEO Survey, it is stated that 85% of all CEOs accepted that the commercialization of artificial intelligence (AI) is a widely substantial impact on the companies and their business models in the coming years.
It is expected that despite the evolution of AI in the market, there is witness maturity in the demand for intelligent technologies and the expectations of ERP systems in particular to support innovations—have fundamentally changed business demands. Such demands are –
Feature of flexible process handling by Smart ERP
Smart ERP systems are not intending to handle single operations like traditional ERP systems, but are flexible enough to cater to the demand from different business processes. In most businesses, it starts with feeding with automating repetitive routine processes in the backend.
Moreover, the integration of machine learning and deep learning algorithms is functionalizing it for analyzing and detecting errors in the production, business process, and workplace safety through its feature of predictive analytics. The approach to flexible process handling is cost-effective and enhances the scope of innovations, which expected to simplify the acceptance of ERP systems in everyday work.
Scalable Web Services enhance the scope for innovation in the ERP system
Currently, the ERP system requires a significant amount of data to identify and understands the trends, patterns, and correlations to draw a conclusion in the most efficient manner. It enables two positive consequences that are provide open-end access to companies of all sizes, as well as its adoption, which is no longer a question of IT budget.
ERP system needs modernization in terms of update platform in the software architecture like Microsoft .NET to operate upon Azure’s resources seamlessly. Moreover, it provides easiness to the companies to connect a company’s own business processes with intelligent cloud services and AI resources, such as intelligent edge and cognitive services.
Future of the integration of intelligent technologies in the ERP System
In the past and current, the ERP system has a responsibility for organizing the company’s information, reports generation, and visualizing critical real-time data through dashboards. Moreover, in the current market trend, there is the integration of intelligent technologies in the ERP System to make it more viable to meet the demand from the current businesses through providing support related to recognize trends and patterns, action recommendations, interrelationships operations, and automate complex processes.
ERP system is available as on-premise and cloud-based to provide analysis to improve the business process efficiently at low cost, that further expected to lead its demand in the global market for the modern ERP system integrated with the intelligent technologies in the coming years.