ERP Trends to Watch Out in 2023
ERP Trends to Watch Out in 2023
Growing competition has proportionately grown the challenges related to business disruption and adaptations. As a result, businesses have started exploring opportunities and leveraging technology with negligible investment to create a balance between reduced costs and growing business resilience.
In recent years, companies across different industries have started investing in Enterprise Resource Planning ERP software solutions, systems, and platforms for enhanced management operations while saving cost and time.
This blog will discuss the top ERP trends that will set industry standards in 2023 and beyond.
Increase in adoption of ERP
This year, the ERP market is expected to expand across diverse business verticals. It will make inroads in SMEs and large-scale businesses as well. Many new industries, like retail, healthcare, and construction will also start adopting and leveraging the benefits of ERP software solutions, systems, and platforms to enhance their operations.
Customized and user-friendly interface
Many ERP solutions are available in the market, but not all are easy to use and often complicate the entire process. As the demands continue to evolve, users have started looking for a customized and simple interface. To cater to the changing requirements, leading ERP software development companies will offer ERP software solutions with a user-friendly and tailored interface, a trend that will continue in 2023.
High focus on analytics and business intelligence
Growing analytical tools like business intelligence and AI have replaced legacy ERP functionalities and their limitations with robust new analytic tools for greater data insights. This year, companies are likely to put a renewed emphasis on analytics and real-time data, which will help them make better decisions.
Adoption of cloud-based solutions
The existing work culture demands mobile and cloud-based solutions that can be used anywhere, anytime. Also, cloud-based solutions are more affordable than on-premise systems and promise improved cyber security and compliance that allows seamless team collaboration. Cloud-based ERP software solutions will emerge as one of the most significant trends owing to their easy scalability and global accessibility.
Increase in demand for low-code or no-code development tools
According to Gartner, by 2025, 70% of new business application developments will likely be built on a low-code platform, and 50% of clients are expected to migrate from businesses unrelated to IT.
Today, you don’t need to be a coder to build a tailored business application. With advanced ERP software solutions, companies can experience lower development costs and enhanced flexibility and agility.
Emergence of XaaS (anything as a service)
This year, the subscription economy will expand across diverse business verticals and software markets. In recent years, software-as-a-service (SaaS) has evolved into platform-as-a-service (PaaS), which transformed into infrastructure-as-a-service (IaaS) and then device-as-a-service (DaaS). Anything-as-a-service (XaaS) will break business siloes. It combines capabilities of cross-functional business services and offers them on a subscription basis over the web networks, also called micro-services.
ERP software solutions can be sold over the Internet via subscriptions once they become subscription-based, cutting upfront costs, eliminating maintenance fees, enhancing customer support, and simplifying IT deployment. Additionally, XaaS works on a no-commitment basis and allows businesses to pay precisely only for what they need.
Ways to Know If a Business is Ready for ERP
ERP software solutions are no longer optional for any business. Here are some of the top reasons that indicate your business is ready for ERP software solutions and systems.
Old Legacy Systems are in Place
ERP software solutions and systems help businesses get rid of old legacy systems. Leveraging old systems makes it challenging for businesses to find the right support, making it difficult and costlier for them to change and adapt.
In some cases, businesses are pushed to stick to the legacy systems as they contain business-critical data that would be lost if the system is switched off. But, with ERP software solutions and systems, businesses can easily migrate the data, enabling them to switch off the old system and free up valuable resources.
Business Wants to Scale its Roadmaps
A reliable and advanced ERP software solution or system helps businesses scale roadmaps. As businesses continue to grow, they must expand to new geographical locations or markets. An effective ERP software solution can help businesses quickly map out an achievable and realistic growth strategy.
Consult with a trusted ERP Software Development Company
ERP software solutions and systems offer incredible benefits for businesses in terms of customer experience, data management, and efficiency. Businesses can get the most out of an ERP software solution or system only when they know how it can be leveraged and how it will support them in achieving specific goals and objectives.
When used correctly, ERP software solutions and systems can enhance business operations and improve bottom-line growth. But businesses need to consult with an experienced and reliable ERP and CRM software development and software solutions company like Bursys.
Reach out to their ERP and CRM solution providers team to learn how they have been helping businesses transform and achieve desired goals.