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A huge wave of digital transformations has flooded all peaceful IT harbors during recent years. Software development is no exception. Hundreds of ERP initiatives undergo constant deployment and expert evaluations. Thousands of enterprises are in search of best software vendors and trustworthy decisions.
Billions of dollars are spent annually within the IT sphere and its branches, for example, the worldwide expenditure on enterprise software is forecast to reach $457 billion by the end of 2019. According to Statista research, the global revenue in the ERP software market is expected to witness growth up to $86 billion by 2022.
ERP itself stands for enterprise resource planning which includes software development, implementation and management to meet business needs of small, medium and large companies. This large segment enables complex integrations of multilevel business operations in one database or application.
It is no surprise that ERP was one of the hottest topics under discussion during the topsoft Conference 2019 in Switzerland which we had the greatest pleasure to visit last month.
The next year will continue to convince that traditional business models have to demonstrate the competitive flexibility to comply with the forthcoming evolution and tendencies. Here you may have a quick look at the main ERP trends in 2020.
First of all, many enterprises have already opted for ERP strategies in managing their business processes. Nevertheless, in some cases, companies seriously consider changing ERP vendors or improving what they have. Scroll down to answer some essential questions about your business resource planning.
Before rushing into ERP software deployment from the start, let’s talk about the handy peculiarities for you to consider.
In the beginning, try to evaluate the size of your business and its potential power supply. While some ERP functionalities are designed for small enterprises, others will perfectly suit the needs of large companies.
Needless to say, that before realization a lot of planning should take place. Obviously, resource planning is not that easy because you meet a huge load of responsible decisions at different levels.
Follow your schedule step by step to avoid time overruns which inevitably will result in extra money spending. However, ERP is a long-time initiative, so bear it in mind that slowing down the pace may become cheaper at times.
Software modification of production processes, financial management, human resources and customer experience is a shortlist of transformations you need to take. Think about necessary changes as a holistic business modification.
Consider all digital transformation options that will comply with your business needs and get ready to experience failures. Though almost all performance hardships can be predicted and thus avoided due to expert guidance.
According to Statista, the top three of enterprise application market includes SAP, Microsoft and Oracle. Another source, “The 2019 Digital Transformation, HCM, and ERP Report”, suggests that Microsoft Dynamics 365, SAP S/4HANA, NetSuite, Workday and Salesforce are the leaders among ERP vendors.
Our team provides you with a compilation of ERP systems to opt for in 2020.
Applicability: SML businesses
MS Dynamics AX is a digital solution that enables upgrading operation workflow and financial management. It provides you with useful functionalities for optimizing customer experience, manufacturing and supply chain due to real-time reports and efficient analysis. This software automatically synchronizes with other MS products and controls cost planning. MS Dynamics is flexible and adjustable to different dimensions and parameters. It also provides real-time transparency, storage and logistics monitoring, uses predictive analysis to extract useful insight and meets regulatory requirements.
Applicability: Large businesses.
SAP ERP was developed to cover all business needs from CRM to accounting processes in an integrated automatic database. This solution helps establish visibility and control among multiple enterprise departments, sync product and service catalogs within 25 industries. It is highly efficient in B2B and B2C management processes as it covers HR, customer relationships, manufacturing, sales rate with a powerful thus simple interface on top. Data can be easily converted to SAP S/4HANA.
NetSuite’s most prominent advantage is a wide range of functionality that is not available for many other providers. Though it is new to the cloud, this solution manages financial and inventory processes, manufacturing, CRM and HCM. Collaboration with Oracle (NetSuite OneWorld) becomes a visible achievement for both companies as it acquires such functions as Business Intelligence and finance management, order and billing control, revenues and payrolls which makes this ERP system perfect for advanced financial industries. Automated software maintenance results in the transparency of workflows, real-time personalization and easy access.
Applicability: MLBs, global businesses
Oracle ERP Cloud is a successful SaaS product from one of the largest software vendors Oracle Corp. This platform consists of 7 adjustable modules and offers embedded analytical tools to automate major business processes to free you from insignificant manual interference. It features financial end-to-end management, streamlines procurement, improves inner collaboration, optimizes project executions, enforces risk control and encourages competitive decision-making. Oracle ERP Cloud is an all-inclusive, executive, broad and deep, integrated cutting-edge solution for complex functionalities with intuitive design.
Acumatica is an impressive cloud-based system that perfectly suits mid-market demands. It provides scalable user experience due to smart technologies. Its flexibility allows measuring and integrating omnichannel data from in one place. This connected business software suggests a number of responsive services such as stable customization, financial reporting, distribution, multi-tenant SaaS and others. Being the best customer-oriented platform, Acumatica performs real-time management thus delivers a higher rate of customer satisfaction.
Applicability: SML businesses
IQMS is an efficient solution for all-size enterprises across many industries though it has the reputation of best manufacturing software. When it comes to process management within heavy manufacturing organizations, IQMS meets business needs perfectly. The functionalities include customer demand adjustment, production scheduling, supply chain logistics and inventory tracking to name just a few. The system’s services provide seamless customer support, past and potential sales rates, efficient product distribution as well as some specific tools for automobile, medical, defense, food industries and likewise.
Rootstock’s prominent service is connected with manufacturing, distribution and supply chain. This software is built on the leading market platform Salesforce that is a powerful combination to boost your business.
This ERP cloud system connects you with customers and employees, syncs built-in social media features, allows 24/7 access and control. One of the key features is the agile approach towards business interactions alongside with ERP and CRM integrity.
Sage Group is one of the largest ERP software suppliers in the world so its products serve to efficiently integrate vital business workflows. Predominantly Sage ERP caters financial and enterprise management, including orders, inventory, accounting, HR, supply chain, customer interactions, regulations and other front- and back- processes. This platform is known for its beneficially flexible procedures with no location or industry limitations. Expert support and legal compliance ensure your business from undesirable pitfalls.
SYSPRO is the software with probably the highest rate of user satisfaction due to its capacity to adjust to different business sizes and needs. SYSPRO is mainly developed to streamline operations on sales analysis, inventory and supply chain management. It is sustainable for businesses looking for visualization of various workflows and personalization of actionable insights. The software features full product traceability, multilayer integrity and sales trends prediction thus enables clients leverage from technological know-hows, like AI, ML and IoT, to full extent.
Applicability: Mid- and large-size businesses
Epicor ERP software integrates a toolkit for planning and scheduling, customer relationship management, human resource and company content handling. With Business Intelligence and Big Data Analytics involved, Epicor enforces security, coordinates services on a timely basis and improves digital shopping and mobile services. This software eliminates time and money overruns due to establishing efficient financial as well as collaborative social relations between departments.
With all that said, using ERP software as a consistent and reliable way to manage business operational processes within an organization proves to be economically viable. The same holds true for tackling complex enterprise-grade needs where scalability used to be an issue.
With the implementation of predictive analytics, ERP software’s potential is going to become more prominent than ever before. Numerous successful examples of resource planning forecast greater business capabilities, customer satisfaction and financial benefits in the upcoming years. Is this about you? Feel free to contact us for further information.
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