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How to Take Advantage of Enterprise Resource Planning (ERP) Solutions

Enterprise resource planning is reaching its peak as businesses are starting to invest in ERP integration.

ERP is a broad concept, and many different businesses and vendors will have their own definitions and implementation use cases. At a base level, ERP is simply a process that is used by businesses to both manage and integrate the most vital aspects of a business. An ERP solution can be an accounting system, financial system, planning system, marketing system, etc.

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Such solutions can be used to help business leads implement resource planning through the process of integrating all of the necessary processes to run their business with one simple system. ERP solutions can include everything from inventory purchasing to financial management systems to integration planning to marketing to human resources. To put it simply, it’s a can-do-all solution that many businesses can take advantage of.

Unfortunately, enterprise resource planning systems can be somewhat difficult to grasp. Because of all of the broad use cases for this solution, many IT managers or CTOs don’t even know where to start when it comes to using and implementing one.

It all starts with knowing the trends and what the future of enterprise resource planning looks like in 2020 and beyond.

Future Trends in Enterprise Resource Planning Solutions

Cloud migration for all business sizes.

2019 was an interesting year for tech in that, many software industries and niches made a big move toward the cloud. Unfortunately, ERP software has been notably slower to migrate to cloud computing. This is likely to change in 2020.

With cloud migration graduating from “trend” to “industry norm,” it’s very likely that traditional ERP platforms and ERP startups will begin to implement cloud computing into their applications. Not only is this cost-effective for everyone involved, but it’s also more secure and efficient for business data. Cloud ERP also makes it possible for ongoing upgrades with a lot fewer headaches involved.

More disruption.

Disruption is nothing new, but in the ERP world, it’s going to likely become a major trend in 2020.

The biggest ERP platforms have been the go-to for this type of software for years. Now, in the era of “disruption or bust” we’re seeing a lot more competition from startups, namely SaaS startups.

Keep an eye out for new names in the industry and exactly how their products are different (and better) than traditional ERP solutions. Namely, disruptive platforms will approach the act of gathering and processing data with improved automation.

Major hybrids as all-in-one solutions.

Many businesses use ERP, CRM, and other related tools separately. Meaning that a business will typically use one platform for enterprise resource planning, another for customer relationship management, another for multi-team collaboration, etc.

This is not only costly, but it’s also not very organized. Disruptive ERP applications are taking this into account and beginning to create all-in-one solutions for businesses that go beyond ERP needs.

Some notable applications that are doing this include:

Microsoft Business Central ERP (Includes accounting, inventory management, reporting, analytics, and enterprise-wide functionality)
Sage ERP (Includes financial and accounting Cloud computing, warehouse management, procurement, reporting and analytics, and highly customizable enterprise-wide functionality.)
Aysling Service Operations (An SRP-CRM-ERP hybrid platform that includes cloud-based services, operations planning, automation, project management, order management, event management, and multi-tool integration)

As noted earlier, it would be wise to still keep one’s thumb on the pulse of new up-and-coming startups that boast disruptive ERP features in their applications.

Custom and industry-specific ERP solutions.

ERP platforms aren’t extremely customizable. This is unfortunate since virtually any business and any niche could really benefit from the increased production and organization that an ERP application can provide. But since we can expect disruption to be a major trend in ERP solutions in 2020, we can also assume that this glaring flaw will be corrected by innovative startups.

For example: Let’s look at the relatively new and exploding cannabis industry in the United States. Businesses in this industry are quickly growing from small startups to large enterprises. As a result, they’ll need customizable ERP platforms that can help them track things like seed types, new strains, and other things that are unique to that industry. This could also apply to Australia’s growing interest in adopting farmtech and the unique ERP software needs the farming industry will have in the near future.

The goal of a customer-centric experience will influence how startups craft their unique platforms in 2020.

How to Take Advantage of Enterprise Resource Planning (ERP) Solutions

1. Understand your business and industry needs

What exactly made you consider enterprise resource planning solutions? Was it simple curiosity, or was it a specific use case that got you inspired?

2. Understand if the solution can grow with you and evolve

Businesses never stay exactly the same forever. That’s the nature of growth— if your business is doing well, it’s going to grow. If your business is going to stay in touch with new innovations and solutions that could improve it, it will evolve naturally.

3. Consider the integration of various platforms

ERP software should be an all-in-one solution. After all, that’s one of the biggest benefits of using ti— fewer products, less information and training.

Still, you may still use some platforms that you aren’t willing to give up quite yet, such as your tried and true collaboration platform or CRM software. When looking for ERP software, note whether or not the platform allows for easy or even possible integration with other platforms.

4. Understand if you have ongoing support

As with any new platform or software that is to be used across the business itself, you’re going to need support at some point. Whether it’s for a technical issue or for assistance in workforce training, it’s a necessity for enterprise resource planning software to come with easy-to-access user support. It’s strongly recommended that you don’t dive into a deal with a vendor if there isn’t clear information about the nature of their customer support.

Get in touch with us to learn more about Nexon’s Business ERP solutions