The Bright Future Of ERP The Bright Future Of ERP

The bright future for ERP

The world has very quickly becoming automated as companies are looking for ways to minimize cost and reduce human errors.
However, in the last decade, businesses and analysts alike have foretold the death of the Enterprise Resource Planning (ERP) system as they criticized its complexity difficulty in operation, expensive and time-consuming and they (analyst) cited with the dawn of technology, ERP will be wiped out.

"The proposed process designs should always be designed within the logic of the ERP systems."

by Andera.

As we consider over a century back - cash registers were the earliest Order Entry / Payment Collection systems, and NCR Systems (National Cash Register) was born in the late 1800's.
Now 20 years later, ERP is still alive and well. Globalization, digitalization, the internet and a whole host of other technologies have made it virtually impossible for businesses to move away from ERP.
There's simply too much critical data housed in the underlying databases for elimination to ever be a viable option.
Customization is almost always a necessity and can mean locking into a current version or vendor because those customizations are impossible to maintain.
Although ERP is one of the older segments of the business software landscape, ERP vendors are consistently evolving to become more powerful, more affordable, and less complex.
Mega-vendors such as Oracle and SAP have a major share of the ERP market, but newer companies are nudging their way into the space with Software-as-a-Service (SaaS) options that are changing the game.
Whether you're trying to get a handle on how your customer relationship management (CRM) efforts are impacting your bottom line, or if you're tracking revenue from point-of-sale (POS) to research & development (R&D), ERP can be an asset to your company. At its core, ERP provides transaction automation for business operations.
So it is expected that AI, Machine learning and other emerging technologies will have a point of intersection. The advantages that these technologies offer will be applied to ERP solutions.
With the use of emerging technologies like VR, AI and others, custom ERP solutions will be built to suit certain industries, from manufacturing to health and tech, ERP solutions that suit exact needs will be designed.
Therefore ERP solutions which are AI enabled will come in very handy is such cases. As AI can learn to read, learn, and even process a lot of data and predicting future outcomes easily, it will also be able to perform basic everyday tasks, thereby leaving room for people to perform more important tasks.
This is why many organizations have turned to ERP. More than just an organizational tool, ERP gives the enterprise an unprecedented ability to streamline the business model by coordinating resources and processes in ways that are not possible under previously segregated data ecosystems.
In other words, ERP is the primary means of eliminating the data stores (Data Islands) that hamper productivity and drive up costs.
The best ERP systems feature everything from open and cloud-based solutions to highly tailored systems for key vertical industries.
So ERP functions have been around for over a century, have kept evolving with technology shifts, and are akin to an 'operating system' for business.
That said, the future of ERP is positive. It remains one of the biggest areas of software spending for businesses, and new suppliers continue to emerge in the space despite its long maturity and relatively slow-cycle change dynamics.

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