ERP technology is constantly evolving since its inception. New modules, features, extensions, or functionalities are added as business requirements expand and continue to grow. The relevance of ERP in business enterprise management can never be ignored. Automated processes and improved visibility into operations in organizations result in cost reductions that help them achieve a competitive advantage over players in the market. While many of the advancements in ERP software development have already been made, it also cannot be stopped. There are many new aspects to discover in this field in the coming years. Here is a short list of some of the highly anticipated changes that will emerge in ERP technology in 2018.
# 1 Cloud-based solutions will prevail more
Cloud-based ERP will be a dominant transformation in the ERP field in the next year and beyond, and most software development companies will increase their cloud offerings multiple times. While many effective cloud solutions provided by top-rated providers are already on the market like Microsoft Dynamics 365, SAP S4HANA, Oracle Cloud, the scenario will change for small and medium providers as well. Therefore, the coming year will see major conflicts between normal ERP software and cloud-based solutions. However, cloud-based ERPs are sure to gain wide acceptance everywhere.
# 2 Legacy ERP software will fade
As more and more ERP software vendors come to market with innovative, customized and versatile solutions, organizations are moving from their restrictive legacy software systems to bespoke solutions. ERP providers are proficient in developing solutions that perfectly meet all individual business requirements. They can add new functionality, modify existing modules, or support long-term solutions. Therefore, legacy systems will deteriorate next year and more organizations will migrate to modern ERPs.
# 3 Big Data analysis will emerge
One big positive trend that will emerge next year is Big Data, which makes companies able to manage large data sets with greater precision or with minimal chance of error. Big data helps companies find real-time information on customer demands and market patterns. Now most companies have to rely on data analysts or operational teams for reports on customer purchases and market trends. However, with Big Data analysis, entrepreneurs can easily discover all the discrete changes in market trends to discover new opportunities.
# 4 Artificial intelligence will attract attention
ERP software applications will advance a lot in the coming days with the integration of Artificial Intelligence. AI is an intelligent technology or so-called “machine intelligence” that was developed some time later and that allows machines to perform cognitive actions such as problem solving. As AI increases the reach of machines or software, making them capable of performing tasks that require a certain amount of intelligence, it will also become an essential part of business functions. It will help companies reduce operating expenses by participating in routine lower-level functions such as invoice generation.
2018 will definitely bring many transitions in the ERP domain and these are just four predictions that are sure to happen. While it will be an exciting year for ERP development, it is worth seeing how organizations will respond to these changes.