ERP 4.0 - Future of Business on Cloud

11 Nov,2019

The companies without having right technology are going to see a tough competition in the near future. ERP vendors have been following the industry trends to develop & design the products to stay competitive in the market. On the other hand, enterprises are looking the best ERP suits for their businesses to meet their customers’ expectations.

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The leveraging technologies like Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML) have been revolutionizing and transforming every industry. The Enterprise Resource Planning (ERP) is going to play a vital role in delivering and enhancing productivity.

According to ERP consultants, the cloud ERP market is likely to touch USD 29.84 billion by 2021 and the market will be driven by could based application. The rise of technology adoption and digital transformation is going to check inefficient process and redundancy in the business environment.

We are on the cusp of Industry 4.0, the fourth Industrial Revolution. In the era of industry 4.0, companies must but looking for ERP 4.0 for their production and working environment. The technologies like cloud computing, IoT, 3D printing and mobile devices will help manufacturers and businesses to deal with the challenges. Cloud ERP will become core application that connects smart machines, productions, sensors other application.  

Let’s have a look at the future of ERP

User interface (UI) and user experience (UX)

It is considered that ERP applications are complex and clunky. Compared to the other business application, UI & UX is a bit challenging in ERP applications. The design and layout of the ERP application is going to change for better users’ engagement and experience. The business application will become more users friendly.  Most of the companies have been trying to bridge the gap between software development and design to give a better experience to the users. Another big challenge for ERP business application is that functionality of the application. There will be many functional flows and it is difficult for the designers to maintain the flow as per the functionalities which may vary with the usage. Complex functionality process it a challenge but designers need to present the application flow in such a way to improve users’ experience.

Customization

ERP application will help to transform business process. Due to different business models and process flow, companies opt to customize the application as per their business activities. This is considered as good that as their employees no need to change their process and they start their hand on the ERP application without disturbing the process at all.

In near future the application will come with minimum or no customization. The application will be crafted as per the workflow and business logic so that the users do not need any customization or basic customization to use the business application.  Of late, companies have been following “low-code” or “no-code” policies in building the ERP applications.

E-Commerce Integration

Integration is the most common question among ERP application buyers. They look for an application with is easy to integrate with existing application to manage data or interaction. In future the application could come with all the e-commerce features as by 2040, 95 percent of the purchases are being felicitated by e-commerce. The online sales or e-commerce activities as interrelated with the inventory management. Companies in the e-commerce domain will certainly look for one application where they can manage their online store as well as their inventory. And, any module to existing application is bliss for their business. In fact, the ERP software will be a priority in the e-commerce domain.

Implementing Blockchain in ERP Software

The blockchain technology has been the buzzing word in the technology landscape. Many companies are working the possibility to implement the blockchain technology in ERP software to make it more secure. As blockchain works on distributed ledgers system making it more secure. The implementation of blockchain technology will reduce the cost supply chain cost and the business data will be in safe environment.

Adoption of SaaS

By 2020, more than 78 percent of enterprises will adopt cloud-based ERP application for business operations. SaaS will be the core when it comes to digital transformation in the business environment. On the contrary, the adoption of SaaS will be slower with the larger enterprises. Businesses will be driven by cloud-based application in the future and ERP will be one of top business app for the companies.

Data Protection

Of late, the consumers are fully aware about their rights and how to avoid any sort of data privacy. Considering the changing scenario, the companies have been following strong measures to protect the private and sensitive data of their customers. ERP application with full secure features could be first choice for many enterprises.  

Open APIs

APIs will make things easier for suppliers and retail customers. The transactions and activities are possible with open APIs, which are considered as crucial in creating a ‘community.’ Customers can create integration and use them to achieve the results. Whereas API publishers can expand their network by allowing users to use it and expand the community just like open source technologies.  There APIs are also subject to development and testing to make them bug free.

The companies without having right technology are going to see a tough competition in the near future. ERP vendors have been following the industry trends to develop & design the products to stay competitive in the market. On the other hand, enterprises are looking the best ERP suits for their businesses to meet their customers’ expectations.

If you have any questions or comments in regard to ERP Software solutions, please do write to us at info@learntechx.com. Please follow us on our Facebook, Twitter & LinkedIn.

The leveraging technologies like Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML) have been revolutionizing and transforming every industry. The Enterprise Resource Planning (ERP) is going to play a vital role in delivering and enhancing productivity.

According to ERP consultants, the cloud ERP market is likely to touch USD 29.84 billion by 2021 and the market will be driven by could based application. The rise of technology adoption and digital transformation is going to check inefficient process and redundancy in the business environment.

We are on the cusp of Industry 4.0, the fourth Industrial Revolution. In the era of industry 4.0, companies must but looking for ERP 4.0 for their production and working environment. The technologies like cloud computing, IoT, 3D printing and mobile devices will help manufacturers and businesses to deal with the challenges. Cloud ERP will become core application that connects smart machines, productions, sensors other application.  

Let’s have a look at the future of ERP

User interface (UI) and user experience (UX)

It is considered that ERP applications are complex and clunky. Compared to the other business application, UI & UX is a bit challenging in ERP applications. The design and layout of the ERP application is going to change for better users’ engagement and experience. The business application will become more users friendly.  Most of the companies have been trying to bridge the gap between software development and design to give a better experience to the users. Another big challenge for ERP business application is that functionality of the application. There will be many functional flows and it is difficult for the designers to maintain the flow as per the functionalities which may vary with the usage. Complex functionality process it a challenge but designers need to present the application flow in such a way to improve users’ experience.

Customization

ERP application will help to transform business process. Due to different business models and process flow, companies opt to customize the application as per their business activities. This is considered as good that as their employees no need to change their process and they start their hand on the ERP application without disturbing the process at all.

In near future the application will come with minimum or no customization. The application will be crafted as per the workflow and business logic so that the users do not need any customization or basic customization to use the business application.  Of late, companies have been following “low-code” or “no-code” policies in building the ERP applications.

E-Commerce Integration

Integration is the most common question among ERP application buyers. They look for an application with is easy to integrate with existing application to manage data or interaction. In future the application could come with all the e-commerce features as by 2040, 95 percent of the purchases are being felicitated by e-commerce. The online sales or e-commerce activities as interrelated with the inventory management. Companies in the e-commerce domain will certainly look for one application where they can manage their online store as well as their inventory. And, any module to existing application is bliss for their business. In fact, the ERP software will be a priority in the e-commerce domain.

Implementing Blockchain in ERP Software

The blockchain technology has been the buzzing word in the technology landscape. Many companies are working the possibility to implement the blockchain technology in ERP software to make it more secure. As blockchain works on distributed ledgers system making it more secure. The implementation of blockchain technology will reduce the cost supply chain cost and the business data will be in safe environment.

Adoption of SaaS

By 2020, more than 78 percent of enterprises will adopt cloud-based ERP application for business operations. SaaS will be the core when it comes to digital transformation in the business environment. On the contrary, the adoption of SaaS will be slower with the larger enterprises. Businesses will be driven by cloud-based application in the future and ERP will be one of top business app for the companies.

Data Protection

Of late, the consumers are fully aware about their rights and how to avoid any sort of data privacy. Considering the changing scenario, the companies have been following strong measures to protect the private and sensitive data of their customers. ERP application with full secure features could be first choice for many enterprises.  

Open APIs

APIs will make things easier for suppliers and retail customers. The transactions and activities are possible with open APIs, which are considered as crucial in creating a ‘community.’ Customers can create integration and use them to achieve the results. Whereas API publishers can expand their network by allowing users to use it and expand the community just like open source technologies.  There APIs are also subject to development and testing to make them bug free.

The companies without having right technology are going to see a tough competition in the near future. ERP vendors have been following the industry trends to develop & design the products to stay competitive in the market. On the other hand, enterprises are looking the best ERP suits for their businesses to meet their customers’ expectations.

If you have any questions or comments in regard to ERP Software solutions, please do write to us at info@learntechx.com. Please follow us on our Facebook, Twitter & LinkedIn.

DIGITAL TRANSFORMATION

Take a closer look

See for yourself how our ERP and CRM Solutions help your business grow.

Learn More

Healthcare Product

See how preventive healthcare product can help to reduce your losses

Learn More