Enterprise Resource Planning Software is not a hyped concept anymore. It is an actuality, and it is here to stay. The way people do business today has changed significantly. The needs of customer are changing, and this drives business response, making the organizations more agile and efficient. In order to grow, companies must expand, offer more, serve better and be open to experimenting with different models to get to what exactly works for them. So, how does your IT infrastructure adapt into this climate of explosive and urgent business growth? Let us take a quick round-up at how enterprise resource planning software have kept up with the market, driven it, and even supported businesses.
Enterprise Management System Software was born from a need to make software that could meet the changing requirements. The first formal system was created in the 1980s and was targeted at large enterprises focusses primarily on finance. But as time went by and technology advanced, user specific needs came into play. Priorities for different companies were different, and then came the need for customization. While a major section of companies, especially those in the technology sector begin to get excited by what was ‘new and enhanced’. However, others wanted to know ‘how they could improve their systems and keep up with new technology without even starting the process from scratch’ each time.
Enterprise system providers rose to the challenge. ERP was overhauled, coming up with the required customization. Small and medium companies began to look for options that were affordable. Soon companies came to realize that for maximum advantage, ERP must be viewed less as an IT need and more as one for the business to make sure that it is truly future proof. Then next came the trend of cloud computing, because these systems deliver over the internet. With more customers than ever before, ERP providers grew and with even newer solutions, and therefore businesses pushed for even greater agility.
Biggest Changes in ERP over the years
- Enterprise Resource Planning Software Customization
More and more companies are choosing to customize their Enterprise Resource Planning Solution options than ever before. The 2005 ERP Business Report says that a whopping 93% of companies preferred to customize their Enterprise Management System Software to varying degrees.
- ERP and SaaS
SaaS applications stored on the cloud-based servers have witnessed a significant rise in popularity over the years. Enterprise Resource Planning Companies are finally starting to identify the need to switch to SaaS applications. On premise ERP tools need storage on company servers, which can make up- front hardware costs and continued maintenance a pricey endeavor. Many ERP companies are coming up with SaaS products for new customers looking to implement cloud-based Enterprise Resource Planning Solution. It seems cloud-based ERP is here to stay for the predictable future. Software’s like ebizframe, a web-based ERP software can help you share information between various departments and allows them to collaborate efficiently.
How has IoT Improved the Enterprise Resource Planning Software?
IoT refers to a collective term used for billions of physical devices all across the world that are connected to the internet, bot collecting and sharing data. Can you think of all the devices in your life that helps connect and share data? Well, this comprises of everything from smartphones and heart monitors to refrigerators, coffee makers, washing machines, cars and much more.
Simply put, IoT augments the usefulness and power of an Enterprise Resource Planning Solution, whether on premise or in the cloud. It is quite easy to see why companies in various industries are pondering over the creative ways to utilize IoT. If we talk about the manufacturing and customer service sector, handheld scanners have significantly augmented the functions of an Enterprise Resource Planning Software. It enables keeping up with inventory much more achievable, while also providing the data required for better forecasting and production. This ensures that the products are adequately stocked so that when customers are all set to make a purchase, so are you. Moreover, the use of handheld scanners can mitigate the administrative costs.
There is no doubt that the uses of smartphones have also had a worthwhile impact on enterprise resource planning (ERP), enhancing the quality of service for both the customers and employees. Access to important information is now at their fingertips, thus creating better response times by delivering real-time information. Customers no longer have to wait to find out if something they are interested in is in stock.
IoT also enables for increased versatility, enhances data and makes life much easier for everyone. By 2020, it is estimated that a colossal 95% of products are expected to be IoT enabled. Any business that has yet to espouse this technology is at a significant disadvantage when compared with the users of IoT technology.