ERP in 2023: A Look at the Emerging Trends and Technologies

1. ERP Software Trends For 2023 and 2024 silvertouchtech.co.uk

2. The special thing about ERP is that it is a dynamically changing software. ERP software changes based on evolving business needs. So every year, you can expect ERP systems to include new features and functionalities. ERP companies add features based on the prevailing trend. In 2023 as well, there are some specific trends that shape the decision of ERP makers to add new functionalities. silvertouchtech.co.uk

3. ERP Software Trends • Cloud ERP • IoT and Big Data • Real-time Data Analytics • ERP Mobility • AI & Machine Learning • Content Marketing • Customised ERP Solution • ERP For 3D Printing silvertouchtech.co.uk

4. Cloud ERP Cloud-based ERP offers a lot of benefits that translate to not just cost-saving but time-saving as well. Cloud-based ERPs – especially SaaS ERPs – remove the requirement for buying expensive physical hardware. So, companies don’t need to spend a lot of money upfront. This, in turn, results in further cost-saving for companies as they don’t need to hire expensive IT specialists to manage the ERP – everything is managed either by the ERP company or the vendor. silvertouchtech.co.uk

5. IoT and Big Data Analytics The role of ERP has graduated from being just a “single source of truth” to a full-on IoT system that has the power to crunch big data. For example, the flagship ERP for small businesses – SAP Business One – can be used as an IoT device to control the production order. This means no one needs to be present in the factory to commence production manually upon receiving the production order silvertouchtech.co.uk

6. Real-time Data Analytics No IoT system can work properly if it does not have real-time data processing capability. As more and more ERPs are aiming to provide IoT capabilities, they have no choice but to integrate real-time data analytics capabilities. Even for non-IoT-related tasks, ERPs like SAP S/4 Hana offer solutions like embedded analytics that provide real-time analysis silvertouchtech.co.uk

7. ERP Mobility It’s the world of smartphones and remote work. Gone are the days when you have to be within the company premises, sitting on a specific computer to access the ERP system. In 2023, if employees can’t access relevant data (data that they have permission to view) available in the ERP system, then the whole purpose of ERP will be defeated. silvertouchtech.co.uk

8. AI & Machine Learning Another trend that’s gaining momentum is the integration of Machine Learning capabilities into the ERP system and making the whole system intelligent. For example, in SAP S/4 Hana, the system examines all the sales enquiries and examines which one among them has the biggest potential to be converted to an actual sales order. SAP has its own Conversational AI chatbot that can be integrated with S/4 Hana, which makes managing business processes simpler with the use of voice commands. silvertouchtech.co.uk

9. Customised ERP Solution Each and every business is unique. Two businesses in the same industry can have pain points that are different from one another. This is why, when it comes to ERP, one size does not fit all. This is where the role of ERP vendors like Silver Touch Technologies comes in. While ERPs provide a predictable suite of services, it is the vendors who customise the ERPs based on the requirements of their clients. silvertouchtech.co.uk

10. ERP For 3D Printing One interesting trend that can be seen continuing in 2023 is the trend of ERP being used in additive manufacturing or 3D printing. While there is already more than enough ERP software for the manufacturing industry, 3D requires specialised manufacturing ERP that can work in collaboration with CAD software. silvertouchtech.co.uk

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