If you go with the trend, every now and then, the market is introduced to a bulk of mobile devices that are more capable and more powerful than the generation preceding it. We have reached a stage where the latest smartphones can do just anything from taking care of your health, to suggesting pathway, reminding you of your important tasks and even playing your favorite track- simply at a tap on the screen or through your voice command. And these smartphones are getting smarter with each passing generation for a greater convenience and operability. The great part is even business software are also getting into the shoes of smartphones and are evolving themselves continually for a cleaner, precise and faster business operations. Amazing, isn’t it?
I am sure you would agree, but your mind might be occupied by the big ‘how’. All the answers lie in just one term and that is Enterprise Resource Planning or ERP software solutions. ERP systems are known to make assembly lines smarter, research and development (R&D) more innovative, and operations more streamlined and efficient. They also empower your business with capabilities to improve routine processes day by day and they are no behind in technological advancements. Here’s how ERP solutions are staying ahead:
Cloud will now be the soul of business: As business data always needs to be in motion; mobile phones, tablets, and laptops have become the tools of choice for accessing information. This access to information anywhere anytime is made available over the cloud. Companies of all sizes are using the cloud to cut costs in IT, human resources, and sales management functions. And, to shift the focus from core product to better services. Cloud ERP solutions provide the ability to produce information faster than ever thereby, helping businesses make smarter decisions. It not only offers a holistic and a more elaborate view of the manufacturing and the supply chain but also helps business owners to manufacture complex products in a shorter time resulting in cost savings, innovation, and profitability.
Automation is the key: Automation refers to the processes that are best suited to machines, such as planning, forecasting, production, and packaging. Business Process Automation or BPA solutions involve implementing software applications that automate routine business tasks like, a customer order system communicating with the warehouse system in order to automatically place orders for in-demand inventory. Automating processes with ERP systems allow for a more seamless operational environment for independent departments that need to collaborate.
Revolutionizing the Retail: The brick and mortar stores are practically on the verge of evasion. The trend is switching over to omnichannel retailing i.e. selling via online stores, mobile or over the social media. Virtual reality, digital convergence, and in-store digital assistants are becoming the hot new sensations to enhance customer experience. Integration of all e-commerce platforms to your ERP solution makes the business operations much easier as the real-time inventory update takes place along with order consolidation via various sources leading to planned production activity.
AI Enabled Data Processing: ERP machines are turning more intelligent day by day. The new age applications are designed such that they support collaboration and facilitate data access through responsive interfaces. Artificial intelligence will also transform business applications, making them more predictive and prescriptive; thus organisations can leverage the explosion in data to build a smarter and a more successful business.
Transform the Security Tools: Online security is a serious issue for your business and your customers, so it pays to be vigilant. Just as smartphones are launched with face-contour recognition for greater reliability and eliminating the chances of fraud; even ERP’s are powered by latest security tools like process approvals and digital signatures to avoid unauthorised access and data trespassing. Since the traffic due to online transactions is increasing significantly, your valuable data and customer information is at a greater risk of exposure and such advanced security tools help to protect the confidential information. These ERP systems also remove the burden of upgrades and management, freeing up valuable resources to focus on much-needed innovation and business growth.
Marketing Powered by Analytics: Customization and personalization are the need of the hour and hence, the abundant data from multiple touch points need to be managed smartly. With the new age analytic tools, companies are getting better and better with trend analysis and aiming sharply at customizing products and services through the creation of ever-finer customer segmentation. Smart ERPs when integrated with your point-of-sale system, allows you to collect and analyse business data such as stock, sales, staff and seasonal trends, all at the touch of a button.
ERPs with In-memory Computing: Making smart and wise business decisions are largely driven by data speed and the ability to be responsive. Today’s ERP is powered by the out of the box functionalities of SAP HANA, which is a new class of real-time analytics and applications. Its unique in-memory database instantly analyzes huge volumes of data as it’s created, without complex layers of data management and storage. The various data operations and analysis can be carried out over HANA without overlapping from other servers. This is why the speed performance of HANA server is excellent and it is meant for analyzing data on a large scale.
The pace of technology change, innovation, and business adoption has been stunning in the recent times be it for a mobile phone or an ERP Software. Hope this blog gave a viewpoint that business technology isn’t far behind the new generation smartphones, instead of matching the tempo swiftly. In case you wish to know more about a modern ERP, feel free to contact our executives on email@example.com. You can even visit us at www.batchmaster.co.in.