ERP Trends in 2019: Where’s the industry headed?


Digital Age - Transformation into ERP
                         
                              ERP Trends in 2019: Where’s the industry headed?

We live in a digital age where businesses are moving forward aggressively towards their digital transformation to keep up within the current scenario. This explains the rise and demand of ERP software’s for business management.
ERP has come a long way from it’s insipience and continues to grow in an impressive manner with robust functionalities as the business demands turns more complicated than earlier. 
From the start of 2019 ERP has crossed many milestones and is growing at a rate faster than ever before. With over 70% of companies now actively seeking for options that can help them scale their businesses in the digital ecosystem, ERP, especially Cloud ERP has been the choice of many large and small businesses to widen the growth spectrum within their line of business. 
Despite the industry you identify yourself to be in, here are a few ERP trends that you need to stay informed of. 
  1. Business key highlights identification and analysis:  
There was a time when ERP systems were not technologically adept to provide deeper understanding of all business processes but were rather a tool for data collection and unification. 
With time, vendors found ways to give the software a holistic approach, the data collected within your software suit can be processed and analyzed helping you with monthly and even weekly reports on the go, whenever the need be.
 Data visualizations are now also a part of most ERP suites and makes the unwinding of complex digits and information simple to the point where anyone can comprehend and understand what the business needs. 
  1. Cloud ERP demand incline:  
From the past decade, Cloud ERP has been on the path of becoming the default standard in modern business management tools. From 20$ billion in 2015 to projected at 30$billion in the year 2021, it’s fitting to say “sky is the limit” for this cloud rush.
The hype for Cloud ERP is one with a reason, in fact multiple benefits that allow it to stand out from other ERP systems.
 Mobile, cost-effective, agile, it has proven to be as effective as on-premise systems and in certain cases even surpassed it. 
  1. Smarter Integration: 
 Manufacturing industry could be nerve-racking, it is absolutely pivotal to keep track of the whole   process right from the beginning to the end. This could get tedious and time-taking without and ERP system in place.
 With IoT advancement, there are methods to link your physical piece of machinery with the ERP suite your company has in place in order to track production closely, spot errors and make key decisions on the go. 
  1. The bigger picture – Growing with ERP system: 
ERP contribution is not limited to manufacturing or tasks that are repetitive, most often to ensure success within ERP the business is required to embrace the change with a positive outlook which means reflecting your thoughts to your employees on all levels who make your organization what it is. 
Guiding them along the way, training them to excel the new system in place, helping the understand the short term and long-term benefits of the software etc.
With that being said, your ERP system should not be a one-time gig, meaning it needs to grow as your business grows too, for it to be able to cope with your business requirements, new modules have to implemented within the software which requires your vendor to fully understand your business and help your align your business goals with the software.

It is vital that your ERP vendor understand your business to guide your every step of the way, right from implementation to complications if any. 
A reliable partner should be able to reflect on how to effectively leverage from the existing ERP software and should also help business owner’s ERP growth track opportunities that align with their business goals.
Backed by the experience and expertise of professionals in tech, finance and business management, we at TYA Suite are driven to bring a change in the way business is done. With tech by our side we are constantly on the look out to help your scale your business with the TYA Suite and help your stay ahead of the competition.

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