Enterprise Resource Planning (ERP) solutions are designed to improve the operational efficiency of the business resources. It incorporates all process life cycles of operations, including planning, development, manufacturing, finance, human resource, purchases and sales into a single system for efficient and effective management of organizational objectives.
According to the recent report facts about ERP includes:
i) Performance of companies with ERP vs. without ERP
On average, organizations with ERP perform better with overall performance benefits including,
- Improvement in complete and on-time shipments of goods.
- Reduction in administrative costs.
- Improvement in Inventory level.
- Reduction in operational costs.
- Better profitability.
- On time legal compliances.
ii) 54% of companies haven’t implemented ERP for their business operations
iii) The spreadsheet is the one which is used by most of the organization instead of ERP for their business processes
ERP Software Trends for 2018
1. Multi-Location Operations:
The geographical limits have begun to remove as technology improves.
Recently many companies operate from multiple locations across the globe. Managing multiple locations adds more complexity to ERP implementation. The latest versions of ERP solutions come up with facility for multilocation data handling.
2. Integration of ERP with other solutions:
Many companies use specific solution to manage process control, quality management and other systems that help in their operations. One of the recent trends in ERP is to integrate these domain-specific solutions with the ERP systems. Best ERPs will have provisions to add interface with existing legacy systems and synchronize their data.
Nowadays companies are looking for ERP solutions which can be customized as per their specific process requirements. Companies will have their own process flows and report formats. The inherent complexities in customizations can be reduced to the minimum if the ERP system is designed in such a way.
Data analytics is one of the core requirements of an ERP system. Predictive analytics always help management in the decision-making process. Newer versions of ERP systems provide analytical tools which become a recent trend in ERP solutions.
Future of ERP Software
1. Artificial Intelligence
Artificial Intelligence AI, will have more influence on future of ERP systems and will undoubtedly have a decisive impact on the future business irrespective of size or industry. Companies started upgrading ERP systems with advanced AI tools to improve the operational process efficiency. The future of all ERP systems depends on the adaptability of artificial intelligence tools. The use of AI tools will invariably replace many human interactions in ERP systems.
2. IOT (Internet of Things)
Recently products and devices are connected to the internet with latest IOT technologies. The future of all ERPs lies in the capability of integrating IOT making it possible to pass more data automatically into the Enterprise Resource Planning system. The entire system provides a clear view of processes like logistics details, supply chains, device performance, etc. Nowadays ERP vendors are designing tools to integrate IOT with their ERP systems.
3. Big Data
Big data plays a major role in ERP implementations. The latest ERP systems allow management to utilize big data tools without affecting the existing solution architecture. Even though the ERP and big data are running parallel now, in recent future will work as a combined solution for effective management and decision making.
When we consider ERP softwares regionally, ERP softwares in Dubai have changed considerably with new features, functionality, and technology. The common ERPs used are SAP, Oracle, Microsoft GP. Net suit etc.
MyBooksERP, developed and marketed by Mindsoft Technologies FZC is one of the top-tier ERP solutions in Dubai with value-added tax modules.
MyBooksERP will help users to optimize interactions with customers.
MyBooksERP solution will create quotes with accurate product configuration and provide instant access for inventory management. MyBooksERP provides control and visibility to drive sustainable and scalable growth.
MyBooksERP empowers customer with the tools they need to use and enhance the productivity. MyBooksERP frameworks designed to help users benefit from best practices with minimized cost and time involved in ERP implementation. MyBooksERP is Dubai’s best customizable ERP with inbuilt payroll module.